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, bringing its total to $145 million, to achieve EASA type certification by 2028 for its 30-seat ES-30 hybrid-electric regional airplane.
The ES-30 is designed to lower emissions, noise pollution, and operating costs, offering a 124 sm zero-emissions electric range and up to 497 sm using sustainable aviation fuel (SAF) in its reserve-hybrid configuration.
The company has significant airline backing, including orders and conditional agreements from United Airlines (100 aircraft), Air Canada (30 aircraft), and JSX, among others, aiming to decarbonize regional air travel.
Heart Aerospace expects to unveil a full-scale demonstrator this year, with a 2028 launch target that aligns with broader industry plans for advanced air mobility integration.

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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.