DUBLIN : With an aim of exploiting fast-growing business opportunities in clean aviation technologies, Vmo Aircraft Leasing (“Vmo”) and H55, an innovator in the field of electric propulsion technology for aviation, today announced their decision to collaborate to develop leasing solutions for new clean aviation products.
As part of the collaboration, teams from both companies are engaged in providing leasing programs targeted to support the nascent market for financing electric aircraft, battery storage energy and management systems, said a statement regarding the announcement.
“Vmo and H55 share the same vision — reducing the air transport industry’s environmental footprint and enabling it to reach net zero emissions by 2050,” it said.
Vmo provides liquidity and fleet solutions to airlines, lessors and OEMs, with the goal of increasing operational and capital efficiency.
H55 is uniquely positioned with its product and service offerings, combining propulsion, energy storage and management, controls, and integration services.
“With H55’s 20 years of experience in electric aviation (well advanced in terms of reaching certification) and Vmo’s decades of expertise in aircraft leasing, this partnership brings together complementary competencies and has all the right prerequisites for accelerating the adoption of clean aviation technologies,” the statement said.
“Technology and innovation are rapidly changing the aviation industry’s landscape, with emission-free aircraft designs on track to revolutionize airline fleets. With the giant addressable market, lessors will play a key role in financing electric and hybrid-electric aircraft,” the statement quoted Robert Brown, Executive Chairman of Vmo Aircraft Leasing.
“We’re thrilled to be at the forefront of this exciting industry development. Working together with H55 to explore bespoke leasing models will enable us to pursue fast-growing business opportunities in the burgeoning field of clean aviation technologies and bolster our leadership position with regards to sustainability,” he added.
Commenting on the collaboration, André Borschberg, Co-Founder and Executive Chairman of H55, said: “As we are getting closer to commercialize clean aviation products, we believe it’s important to provide financing solutions for innovative products to facilitate the transition to sustainable aviation.
“A clear financial offering will make it possible to operators to fully appreciate the value they will derive from their investment.
“Leasing batteries with regular battery replacements, which will evolve in terms of improved performance, will move the cost of fuel to investing in technology. We believe that this is a very attractive offering, which only reinforces the economic and environmental advantages of electric aviation.”
Vmo and H55 agreed to kick off the collaboration with the involvement of several of H55’s first set of customers, which include OEMs, component manufacturers and operators who are working electrification programs for both new and existing designs.
