Hybrid-Electric Airplane Manufacturer Heart Aerospace Raises $107M

The series B round brought the company’s total funding raised to date to $145 million, supporting development of the ES-30 regional airplane.

Jack Daleo

Friday, February 02, 2024 at 05:20 PM ET

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Heart Aerospace’s hybrid-electric ES-30 regional airplane promises lower emissions, noise, and operating costs compared to conventionally fueled aircraft. [Courtesy: Heart Aerospace]

Key Takeaways:

Heart Aerospace secured $107 million in Series B funding, totaling $145 million, to advance the EASA type certification of its 30-seat ES-30 hybrid-electric regional airplane by 2028.
The ES-30 is designed to significantly reduce emissions, noise, and operating costs on regional routes, offering an all-electric range of 124 sm and an extended hybrid range of up to 497 sm.
The company has garnered substantial investment from prominent firms like Bill Gates' Breakthrough Energy Ventures and United Airlines Ventures, alongside approximately 250 firm orders and additional commitments from airlines such as United, Mesa, and JSX.

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A manufacturer planning to build hundreds of hybrid-electric aircraft for United Airlines’ fleet just secured some major funding.

Heart Aerospace, maker of the 30-seat, hybrid-electric ES-30 regional airplane, this week raised $107 million in a series B round, bringing the company’s total funding raised to date to $145 million. The money will go toward type certification for the ES-30 under the European Aviation Safety Agency’s (EASA) CS-25 large aeroplanes category, expected in 2028.