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Canada invests in launch of H55 Canada Inc.

MONTRÉAL — Canada Economic Development for Quebec Regions (CED) provided a repayable contribution of $10,000,000 for H55 Canada Inc. This CED support, granted under the Aerospace Regional Recovery Initiative (ARRI), will enable this global leader in electric propulsion for aircraft to make Greater Montréal its North American platform for developing and manufacturing its products.

“Our government has made concrete commitments to demonstrate that a strong economy and a healthy environment go hand in hand,” said Pascale St–Onge, Member of Parliament for Brome–Missisquoi, Minister of Sport and Minister responsible for CED. “We are making strategic investments in clean technologies, a priority in our economic recovery plan. As Minister responsible for CED, I am proud to be able to announce that CED is supporting the launch of H55 Canada Inc. in Quebec. By leveraging innovative projects such as this one, which is boosting the development and adoption of green propulsion in the aeronautics sector, we are investing in the greater well-being and the economy of future generations.”

CED’s assistance will support the launch of the company’s manufacturing activities, whereby a facility is being secured and battery pack production will begin in 2024. CED’s contribution will also enable H55 to pursue its research and development efforts, customizing its solutions to the needs of its Canadian customers, Pratt & Whitney, CAE and Harbour Air, with whom it has signed partnership agreements.

“Having CED as a partner is an important validation of our experience coming from a major global aerospace cluster,” said André Borschberg, H55’s Co–Founder and Executive Chairman. “Being present in Canada is a first step in building out our North American presence. There is a strategic fit with Canada, given the country’s leading competitive position in the aviation sector and its commitment to sustainable aviation. CED’s commitment in supporting H55 illustrates a shared vision in making air transportation quiet, clean, and affordable. All the prerequisites for a successful partnership are in place.”