H55 officials claim that, should the certification process go to plan, this system will be the world's first in aviation, as per ESG Today. Switzerland-based H55 is a company that specializes in electric aircraft propulsion systems, battery packs, as well as the energy management solutions required for these vehicles.

Martin Larose, CEO of H55, said that "this strategic investment is pivotal for expanding our North American operations and underscores confidence in our vision for electric aviation.”

The first battery packs, as per company officials, could be installed in small aircraft sometime in 2025. Part of the funds will also be used for the company's further expansion in the US market, including the buildout of the company's Montreal facility, which will be responsible for product development and engineering, among other processes.

André Borschberg, Co-Founder and Executive Chairman of H55, added that "H55 will be the first company to be compliant with its battery packs with the certification authorities. Being only a few months away from satisfying all the certification requirements for our batteries will allow us to be the first in the market, a great achievement for H55."