Government of Canada invests in aeronautics sector's green transition by supporting launch of H55 Canada Inc. Français
Government of Canada grants $10,000,000 in financial assistance to support Swiss business H55's opening in Canada, contributing to the recovery in Quebec's aerospace sector.
MONTRÉAL, March 8, 2023 /CNW/ - Canada Economic Development for Quebec Regions (CED)
Ensuring Quebec's economy makes the environmental transition is a priority for the Government of Canada. That is why the Honourable Pascale St–Onge, Minister of Sport and Minister responsible for CED, today announced 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.
Established in Switzerland in 2017, H55 is a spin–off of the Solar Impulse project, the first airplane to fly around the world without fuel or pollution in 2015–2016. 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.
Aerospace is a pillar of the economy and of innovation in Canada. It is one of the most research–intensive and export–focused manufacturing industries, employing over 230,000 highly qualified people across the country. The aerospace sector is essential to the economic development of communities and businesses from coast to coast to coast. The Government of Canada is committed to supporting businesses within Canada's aerospace sector by helping them adopt sustainable practices from an environmental standpoint and seize opportunities to contribute to the country's future growth.
Quotes
"Our government has made concrete commitments to demonstrate that a strong economy and a healthy environment go hand in hand. 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."
The Honourable Pascale St–Onge, Member of Parliament for Brome–Missisquoi, Minister of Sport and Minister responsible for CED
"Having CED as a partner is an important validation of our experience coming from a major global aerospace cluster. 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."
André Borschberg, H55's Co–Founder and Executive Chairman
Quick facts
- The funds have been granted under the Aerospace Regional Recovery Initiative (ARRI). Delivered by Canada's regional development agencies (RDAs) with a national budget of $250 million over three years, the ARRI complements other measures announced in Canada's COVID–19 Economic Response Plan. It is part of a global Government of Canada strategy that includes measures being implemented by Innovation, Science and Economic Development Canada to boost the aerospace industry.
- CED is a key federal partner in Quebec's regional economic development. With its 12 regional business offices, CED accompanies businesses, supporting organizations and all regions across Quebec into tomorrow's economy.
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SOURCE Canada Economic Development for Quebec Regions
Media Relations, Canada Economic Development for Quebec Regions, [email protected]; Ariane Joazard-Bélizaire, Press Secretary, Office of the Minister of Sport and Minister responsible for Canada Economic Development for Quebec Regions, [email protected]
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