Heart Aerospace
 | |
| Company type | Private |
|---|---|
| Industry | Aerospace Engineering, Aviation |
| Founded | 2019 in Gothenburg, Sweden |
| Founder |
|
| Headquarters | Los Angeles, United States |
Key people | |
Number of employees | 130 (2022) |
| Website | heartaerospace |
Heart Aerospace is a United States-based aerospace manufacturer headquartered in Los Angeles, California.
Founded in 2019 by Anders and Klara Forslund in Gothenburg, Sweden, Heart Aerospace initially operated from there.[1] By 2024, the company maintained its main office in Gothenburg alongside a research and development center located in California.[2] However, by 2025 all corporate functions and the headquarters had been relocated to Los Angeles.[3][4]
History
The inception of Heart Aerospace took place in 2019 in Gothenburg, Sweden, with Anders and Klara Forslund as its founders.[5]
In 2021, the company successfully raised $35 million during its Series A funding round. This financing was led by Breakthrough Energy Ventures, United Airlines Ventures, and Mesa Air Group, with continued support from earlier investors including EQT Ventures and Lowercarbon Capital.[6]
In September of 2022, both Air Canada and Saab invested $5 million each in Heart Aerospace. At the same time, Air Canada committed to purchasing 30 ES-30 aircraft.
Throughout 2024, Heart Aerospace secured an additional $107 million through a Series B funding round, bringing its cumulative investment to $145 million. Among the new contributors was Sagitta Ventures, a Danish early-stage investment firm. Existing investors who participated again included Air Canada, Breakthrough Energy Ventures, the European Innovation Council Fund, EQT Ventures, Lowercarbon Capital, Norrsken VC, United Airlines, and Y Combinator.[7][8]
In May 2024, the company announced the launch of a new R&D center in Los Angeles,[9][2] coinciding with Anders and Klara Forslund relocating there to manage operations.[10] By 2025, the organization had fully shifted its headquarters and ceased operations in Sweden.[3][4]
Order summary
| Date | Customer | Firm Orders | Options | Remarks |
|---|---|---|---|---|
| 13 July 2021 | United Airlines | 100 | 50 | Initially placed an order for the ES-19, later updated to the ES-30[11][12] |
| 13 July 2021 | Mesa Airlines | 100 | 50 | Originally committed to the ES-19 model, subsequently confirmed for the ES-30[11][12] |
| 15 September 2022 | Air Canada | 30 | – | [12] |
| 10 May 2023 | Rockton | 20 | 20 | Leasing firm specializing in aircraft[13] |
| Aggregate Totals | 250 | 120 | ||
Additionally, Heart Aerospace holds non-binding letters of intent for an extra 191 aircraft from carriers including Braathens Regional Airlines, Loganair, Icelandair, JSX, Scandinavian Airlines, Sounds Air, and Sevenair Air Services.[14]
Aircraft
The initial model developed by Heart Aerospace, the ES-19, was introduced in 2020 after their involvement in Y Combinator's Winter Batch of 2019.[15] This concept featured a fully electric regional airplane with seating for 19 passengers, targeted at short-distance flights around 400 kilometres (250 mi).[16] In June 2022, the company shifted its certification approach to the heavier CS-25 category under EASA CS-25, aiming to avoid exemptions for exceeding weight limits imposed by the European Union Aviation Safety Agency.[17][18] Subsequently, in September 2022, the ES-19 was replaced by the larger ES-30 model.[19][20]
The ES-30 is a hybrid-electric regional airliner designed to seat 30 passengers, focusing on sustainability and operational efficiency on short-haul routes. Its projected electric-only flight range is approximately 200 kilometres (110 nmi), while its hybrid-electric capability extends this range to about 400 km (220 nmi), offering substantial reductions in carbon emissions relative to traditional aircraft serving comparable distances. When carrying a reduced load of 25 passengers, the aircraft may achieve a range near 800 kilometres (430 nmi).[21] The development of this model benefits from a $4.1 million FAST grant awarded by the Federal Aviation Administration to support hybrid engine control system design.Cite error: The opening <ref> tag is malformed or has a bad nameCite error: The opening <ref> tag is malformed or has a bad name The company targets obtaining type certification for the ES-30 before the decade concludes.[22]
In 2024, Heart Aerospace revealed its first full-scale demonstrator named the Heart X1. This prototype is expected to conduct its initial flight powered solely by electricity during the second quarter of 2025.[22] As of Q3 2025, this milestone has yet to be achieved.
Following completion of the X1 program, Heart Aerospace intends to build a pre-production prototype known as the Heart X2. This subsequent model will integrate improvements derived from operational data gathered during X1 testing and will incorporate the company's hybrid propulsion technology. A hybrid-electric flight demonstration using this system is planned for 2026.[21][22]
Financing
In early 2019, following its involvement with Y Combinator, Heart Aerospace secured $2.1 million in initial seed capital. This round was spearheaded by investors including EQT Ventures, the Norrsken Foundation, and Lowercarbon Capital, led by Chris Sacca. By March 2021, the company had attracted attention for its ES-19 electric aircraft from several entities such as Finnair, the Nordic Network for Electric Aviation, and airlines based in New Zealand, Canada, the United States, and the United Kingdom.
July 2021 marked a significant milestone when Heart Aerospace raised $35 million in Series A financing. This round was led by Bill Gates' Breakthrough Energy Ventures alongside United Airlines Ventures and Mesa Air Group, with continued support from earlier backers like EQT Ventures and Lowercarbon Capital. At this juncture, both United Airlines Ventures and Mesa Air Group committed to purchasing up to 200 ES-19 aircraft.
In September 2022, Heart Aerospace received $5 million investments from both Air Canada and Saab. Concurrently, Air Canada placed an order for 30 units of the updated ES-30 model. Prior commitments for the ES-19 from United and Mesa Air Group were transitioned to the ES-30 configuration. Additionally, the company announced letters of intent and confirmed orders from Nordic carriers including SAS AB, Braathens Regional Aviation, Icelandair, as well as up to 40 planes for Rockton Sustainable Aviation and an order from New Zealand’s Sounds Air. By the end of that year, Heart Aerospace had accumulated 230 firm orders for the ES-30.
In February 2024, Heart Aerospace completed a Series B funding round totaling $107 million, bringing its aggregate capital raised to $145 million. This round featured participation from the European Innovation Council Fund and Sagitta Ventures—a Danish early-stage investor—alongside returning stakeholders such as Air Canada, Breakthrough Energy Ventures, EQT Ventures, Lowercarbon Capital, Norrsken VC, United Airlines, and Y Combinator.
That same year, the Federal Aviation Administration awarded Heart Aerospace a $4.1 million FAST grant aimed at advancing the development of hybrid engine control systems.
In spring 2025, an existing investor contributed an additional $40 million to Heart Aerospace’s financing efforts. By autumn 2025, total venture funding had surpassed $185 million. The company also held firm orders for 250 ES-30 aircraft with options or purchase rights extending to another 120 units.
References
- ↑ Cite error: Invalid
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<ref>tag; no text was provided for refs namedHardy - ↑ Constine, Josh (19 March 2019). "The top 10 startups from Y Combinator W19 Demo Day 1". TechCrunch. Retrieved 18 November 2024.
- ↑ Alamalhodaei, Aria (13 July 2021). "Heart Aerospace raises $35M Series A, lands order with United and Mesa Airlines for 200 aircraft". TechCrunch. Retrieved 18 November 2024.
- ↑ Perry, Dominic (15 September 2022). "Sweden's Heart Aerospace scales up to develop 30-seat hybrid-electric ES-30". Flight Global. Retrieved 18 November 2024.
- ↑ Billing, Mimi (1 February 2024). "Bill Gates-backed electric plane startup Heart Aerospace flies high with $107m raise". sifted.eu.
- ↑ "Heart Aerospace expands with new US R&D hub and CTO appointment". www.techarenan.news (in svenska). 17 May 2024. Retrieved 18 November 2024.
- ↑ Cite error: Invalid
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<ref>tag; no text was provided for refs namedAir Canada - ↑ "Swedish leasing company Rockton to buy up to 40 ES-30 airplanes from Heart Aerospace". Heart Aerospace (Press release). 10 May 2023. Retrieved 28 January 2025.
- ↑ "AirAsia Joins Heart Aerospace's Industry Advisory Board to Shape the Future of Air Travel". Heart Aerospace (Press release). 12 September 2024. Retrieved 28 January 2025.
- ↑ Cite error: Invalid
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