Canada's government has made what it said is a "repayable contribution" of C$10 million (US$ 7.3 million) to H55 Canada under its Aerospace Regional Recovery Initiative (ARRI).
The cash is to "enable this global leader in electric propulsion for aircraft to make Greater Montréal its North American platform for developing and manufacturing its products", according to a statement by Canada Economic Development for Quebec Regions.
More concretely, the CED said the cash "will support the launch of the company's manufacturing activities, whereby a facility is being secured and battery pack production will begin in 2024" and "will also enable H55 to pursue its research and development efforts, customising its solutions to the needs of its Canadian customers, Pratt & Whitney, CAE and Harbour Air".
Swiss-based 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.
The government in Ottawa "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", the CED said.