Jamie Bennet
H55, a Swiss developer of electric propulsion and battery systems, has received a minority investment from Raytheon Technologies’ venture capital business unit.
The financing builds on the companies’ existing collaboration aimed at advancing the development of sustainable aviation technologies, Raytheon said Tuesday.
RTX Ventures is currently in partnership with H55 for the development and demonstration of hybrid-electric propulsion systems. The new investment will enable the Swiss company to accelerate its flagship projects.
“With RTX Ventures, H55 will benefit from the potential opportunity to work with Raytheon Technologies on a range of projects that will enable us to intensify our offering, building-out a wide portfolio of products and solutions suitable for many customers and applications across the aviation industry,” said H55 Executive Chairman Andre Borschberg.
H55’s electric propulsion system was instrumental in the launch of Solar Impulse, the first airplane to circumnavigate Earth using solar power.
