The possibility of flying an electric airplane is becoming attainable. The Swiss company "H55" announced on Wednesday an investment of $100 million to build a factory for producing batteries for the aviation sector near Montreal.

This investment was announced from St. Hubert Airport in the city of Longueuil, south of Montreal Island. The factory will be built in Longueuil, the fifth largest city in Quebec by population (approximately 255,000 according to the official 2021 census).

The company expects to deliver the first battery units to "Pratt & Whitney," the aircraft engine manufacturer, starting in 2024.

The Canadian branch of this American company, also located in Longueuil, will use these batteries in the production of hybrid engines for the Canadian-made "Dash-8" aircraft.

H55 also expects to deliver battery units to "CAE" for equipping "Piper Archer" planes used for pilot training. This Canadian company, based in Montreal, specializes in manufacturing simulation technologies and pilot training.

Moreover, the Swiss company plans to build a 13,000-square-foot building for the first phase of its new factory, but it intends to triple this space, and even quadruple it, rapidly.

Upon completion of these works, H55 believes that it will be able to produce half a million battery units annually, targeting the entire North American market.

The company's CEO, Martin Larose, anticipates hiring about 200 people at the new factory within five years.

In addition to manufacturing, the company also plans to engage in research and development activities at its facilities.

The federal government will support the project with a loan of $10 million. The Quebec government has not yet announced its contribution, but H55 has not hidden in its statements that it hopes to receive support from the province as well.

The Quebec Minister of Economy, Innovation, and Energy, Pierre Fitzgibbon, who attended the announcement at St. Hubert Airport yesterday, expressed openness to supporting H55's efforts.