ARLINGTON, Va., Oct. 11,
2022 /PRNewswire/ -- RTX Ventures, the venture
capital arm of Raytheon Technologies (NYSE:
RTX), has made a minority investment in electric propulsion
system company H55 to drive the development of electric
aviation solutions. The investment in H55 aligns with Raytheon
Technologies' longstanding leadership in the development of
innovative and sustainable propulsion technologies.
H55, a Swiss company, is a leading enabler of electric
propulsion solutions and battery systems. The team has proven
ability in developing, integrating and flight-testing electric
propulsion systems, including Solar Impulse, the first
solar-powered electric airplane to fly around the world.
"H55 is a key collaborator in our strategy for demonstrating the
potential of hybrid-electric propulsion technology, which will be
enhanced by this investment from RTX Ventures," said Graham Webb, chief sustainability officer at
Pratt & Whitney. "Together, H55 and Raytheon Technologies are
advancing new technologies that will help achieve the aviation
industry's goal of reaching net zero CO2 emissions by
2050."
As part of this investment, H55 will benefit from RTX Ventures'
guidance in supporting H55's plans to accelerate electric
propulsion solutions and battery systems. H55 is already working
with the company to develop and demonstrate hybrid-electric
propulsion technologies. RTX Ventures will also facilitate
opportunities to work together on future product development.
"Receiving an investment from RTX Ventures is yet a further
recognition of H55's track record, expertise, and potential,"
said André Borschberg, H55's executive chairman. "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."
Working together, Raytheon Technologies and H55 will advance
electric aviation and demonstrate the advantages of adopting
sustainable technologies, which are more efficient and cost
effective. This collaboration will further enable the development
of state-of-the-art clean aviation mobility solutions.
About Raytheon
Technologies
Raytheon Technologies Corporation is an aerospace and defense
company that provides advanced systems and services for commercial,
military and government customers worldwide. With four
industry-leading businesses ― Collins Aerospace, Pratt &
Whitney, Raytheon Intelligence & Space and Raytheon Missiles
& Defense ― the company delivers solutions that push the
boundaries in avionics, cybersecurity, directed energy, electric
propulsion, hypersonics and quantum physics. The company, formed in
2020 through the combination of Raytheon Company and the United
Technologies Corporation aerospace businesses, is headquartered in
Arlington, Virginia.
About H55
H55 is the leading provider of electric propulsion solutions and
battery pack systems. The Swiss based company is the technological
spin-off of Solar Impulse, the first electric airplane to fly
around the world, breaking 14 world records in distance, altitude,
and duration. With 19 years of experience, and having built and
flown 4 electric planes, the H55 team is able to solve and provide
solutions to the complex challenges of certification and aircraft
integration. H55 is the first and only company with a certified
design and production organization (EASA/FOCA) and the company's
modular systems, which have proven itself in real flight
conditions, can be integrated in different types of aircraft and
configurations.
Media contact:
Shannon N. Booker, Raytheon
Technologies
202-209-1824
Shannon.booker@rtx.com
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SOURCE Raytheon Technologies