Quebec is investing $55 million in a bold project to transport heavy machinery in Quebec’s Far North.
Posted at 8:00 am
Through Investment Quebec (IQ), the province is injecting 25 million euros into the share capital of Flying Wales and 15 million euros into its subsidiary Les Dirigibles Flying Wales Quebec. Government investment is estimated at 55 million Canadian dollars.
“These works are aimed at the development and certification of airships intended for the transport of large and heavy loads in terrains that are difficult to access by land,” we explained in a press release issued by Quebec on Thursday.
Flying Whales Group has closed its third round of financing worth 122 million euros. Along with Quebec, the French state, through the aptly named French Tech Sovereignty, and the Principality of Monaco are joining the expedition. Two existing shareholders are putting money into the venture, ALIAD (Air Liquid Fund) and Group ADP.
“Flying Whales is taking another step in its growth, where Quebec expertise will allow it to develop a new generation of aircraft,” Finance Minister Pierre Fitzgibbon said in a statement.
“Principal Parts” in Quebec
Quebec Flying Whales wants to conduct a research and development component this year. Eventually comes the aircraft manufacturing plant. First certification and commercial flights are planned for 2025-2026. The government publicly expects that “major components such as the hybrid electric propulsion system, avionics and crew cabin will be developed in Quebec.”
We will provide one hundred jobs in three years.
Here it is [au Québec] We produce and maintain the LCA60T solution for the American continents.
Sebastian Bougan, Founder and CEO of Flying Whales
Founded in 2012, Flying Whales aims to build cargo airships (LCA60T) to transport heavy loads of up to 60 tonnes.
The inventive aircraft will be equipped first with hybrid propulsion, then fully electric. Lift is produced by helium, it is stated. Partners are already pleased with its low environmental footprint.
This isn’t the first time we’ve heard of Flying Whales airships. The Quebec government approved an Investment Quebec 30 million grant for the project in 2019. These amounts were distributed, IQ confirmed in July 2020. Following Investment Canada’s decision, the Chinese presence in the capital stock had the effect of delaying the project to establish this subsidiary in the country.
Flying Whales will be able to conduct commercial operations in Canada from January 2022, Quebec guarantees today.