United Air Invests In Electric Plane Startup Heart Aerospace

United Air has invested in an electric plane startup Heart Aerospace which is a Swedish startup. As a part of this deal, it has agreed to buy 200 electric planes. It is also indicative of how good battery technology has scaled that now short-range commercial flight is possible for an aircraft using batteries which add immense weight which is an inhibitor in the "lift" that an aircraft needs. Of course, there are many players in the electric aircraft space but it is slightly ahead of the competition. Heart Aerospace is developing the ES-19, a 19-seat aircraft meant for short flights. United Air will be able to reopen short regional air routes with lower costs as the aircraft will be cheaper to operate thanks to the lack of aircraft fuel. 

Even United Air Ventures, Breakthrough Energy Ventures, which is backed by Bill Gates and Mesa Airlines have announced an investment in Heart Aerospace which means that this startup is doing something right. All the investment amounts are undisclosed but overall the series A was worth $35 million. 

The company has raised $35 Million in its series A

Interestingly, Mesa Airlines is United Air's partner in bringing electric commercial flights to the market and they have announced the order of 200 ES-19 electric planes. "In addition to UAV's investment, United Airlines has conditionally agreed to purchase 100 ES-19 aircraft, once the aircraft meet United's safety, business and operating requirements. Mesa Airlines, United's key strategic partner in bringing electric aircraft into commercial service, has also agreed to add 100 ES-19 aircraft to its fleet, subject to similar requirements," said the two in a statement. 

"Breakthrough Energy Ventures is the leading voice of investors who are supporting clean-energy technology creation. We share their view that we have to build companies who have real potential to change how industries operate and, in our case, that means investing in companies like Heart Aerospace who are developing a viable electric airliner. We recognize that customers want even more ownership of their own carbon emissions footprint. We're proud to partner with Mesa Air Group to bring electric aircraft to our customers earlier than any other US airliner. Mesa's long-serving CEO, Jonathan Ornstein has shown visionary leadership in the field of electric-powered flight," said Michael Leskinen, United's Vice President for corporate development and investor relations. 

The plan is to have upwards of 400 kilometres of range and they will be commercialised by 2026.