Heart Aerospace Raises $107 million for Hybrid-Electric Aircraft Technology

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Tech News Summary:

  • Heart Aerospace secures $107 million in funding for hybrid electric aircraft technology
  • Funding to be used for development and certification of the ES-SO, a 30-passenger regional airliner
  • Notable investors include Breakthrough Energy Ventures, United Airlines, and Air Canada, showcasing widespread interest in sustainable air travel

Heart Aerospace, a Swedish aerospace company, has announced that it has secured a massive $107 million in funding to further develop its hybrid-electric plane technology. The funding round was led by EQT Ventures and Lowercarbon Capital, with participation from various other investors.

The company is working on the development of the ES-19, a 19-seater electric aircraft that aims to revolutionize regional travel by significantly reducing emissions and operating costs. With this new round of funding, Heart Aerospace plans to accelerate the development and certification of the ES-19 and bring it to market by 2026.

The investment comes at a crucial time as the aviation industry looks for ways to reduce its carbon footprint. The ES-19, with its hybrid-electric technology, has the potential to make a significant impact in the fight against climate change.

Heart Aerospace CEO Anders Forslund expressed his excitement about the funding, stating, “This investment will allow us to expedite the development of our revolutionary aircraft and bring it to market faster. We are thrilled to have the support of such prominent investors as we work towards our goal of sustainable, regional air travel.”

The company’s innovative approach to electric aviation has caught the attention of investors and industry experts alike, positioning Heart Aerospace as a key player in the future of sustainable air travel.

With this significant injection of capital, Heart Aerospace is well-positioned to make a substantial impact on the aviation industry and lead the way in the development of hybrid-electric plane technology.

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