Aviation propulsion pioneer H55 is joining forces with Vmo Aircraft Leasing to incentivize the adoption of electric aircraft and their associated batteries and energy management systems by offering financing packages. The companies, which launched their partnership in April, say they plan to offer leasing options to aircraft operators and manufacturers that will boost the operational and capital case for switching to zero-carbon technology.
Switzerland-based H55 is a spin-off Solar Impulse project, which broke ground with a series of international flights culminating in a 2016 circumnavigation of the globe in an aircraft powered entirely by solar energy using photovoltaic cells installed in the wing. Subsequently, H55 has been developing electric propulsion systems and battery packs for several partners, including Piper Aircraft and the flight training group CAE.
H55’s co-founder and executive chairman, André Borschberg, told FutureFlight that the company is focusing first on electrifying light aviation, such as training aircraft, as well as regional transportation with a goal of supporting the certification of hundreds of new and converted aircraft to fly with electric power by 2030. For example, H55 is also providing propulsion systems for Czech Republic-based BRM Aero, which is working to bring its all-electric Bristell Energic two-seat aircraft to market by mid-2024. Prior to the energy crisis provoked by Russia's invasion of Ukraine, energy costs per flight hour were assessed at just $7, but even today H55 believes the price would be no more than around $15.
“We are working on different, market-driven leasing solutions that will mean that the cost of ownership for an electric aircraft is more favorable than for a similar aircraft with a traditional combustion engine,” Borschberg explained. “While the purchase price for an electric airplane is slightly higher, the operating cost will be lower because the energy cost will be much less, as with maintenance costs. We realized that customers could be interested in leasing this new technology, including the battery packs, because they will have a clearer idea of how much they will spend with a leasing contract, so as to be able to accurately calculate their operating costs.”
At the same time, H55 is applying its technology to larger segments of aviation through work such as supporting Pratt & Whitney Canada’s development of a hybrid-electric powertrain for a regional airliner. H55 is providing batteries for a Dash 8-100 technology demonstrator aircraft that is expected to start flight testing in 2024. The company is also supporting Vancouver-based Harbour Air in its efforts to convert the De Havilland DHC-2 Beaver aircraft to electric propulsion for commuter flights in British Columbia.
To distribute its propulsion systems and batteries to markets worldwide, H55 intends to establish local production infrastructure. It already has a subsidiary in Canada with this plan in mind.
“Technology and innovation are rapidly changing the aviation industry’s landscape, with emission-free aircraft designs on track to revolutionize airline fleets,” said Vmo Aircraft Leasing’s chairman, Robert Brown. “We’re thrilled to be at the forefront of this exciting industry development. Working together with H55 to explore bespoke leasing models will enable us to pursue fast-growing business opportunities in this burgeoning field of clean aviation technologies and bolster our leadership position with regard to sustainability.”
