Suresnes, France-based FLYING WHALES, a company behind a major industrial programme, LCA60T, involving the development of a heavy-lift airship solution and its operating ecosystem, announced that it has closed its third round of funding at €122M.
The company is designing a new industrial low-carbon cargo transport.
Investors supporting this round
The investment came from the French government via French Tech Souverainete, which is part of the France 2030 programme led by the General Secretariat for Investment (attached to the PM’s Office) and operated by Bpifrance, and the Principauté de Monaco via the Societe Nationale de Financement.
TFLYING WHALES’ current strategic shareholders ALIAD (Air Liquide’s venture capital fund) and ADP Group also participated in this round. Additionally, Societe Generale Assurances and several private investors also joined the round.
Emmanuel Audouard, Director of Bpifrance’s cross-functional VC investment division, says, “FLYING WHALES is one of the major bold industrial projects that have the ambition to profoundly revolutionise transportation as we know it – while contributing to its decarbonisation. Bpifrance is delighted to support the FLYING WHALES teams in this new phase of its development, towards the marketing of the LCA60T.”
This financing, which was also carried out with previous shareholders, including the Quebec government via Investissement Québec, will enable the company to finalise its aeronautics programme.
Capital utilisation
Through this funding, FLYING WHALES and its industrial coalition will be able to accelerate the work required to launch FLYING WHALES SERVICES, the solution’s operational firm, as well as complete the development of the LCA60T aeronautical programme in France and Quebec, Canada.
Sebastien Bougon, Chairman and CEO of FLYING WHALES, says, “The aeronautical programme and its industrial implementation are well underway, and the development activities for the future airline and airport company, FLYING WHALES SERVICES, will be mature enough in 2023 to be spun off into a subsidiary, and thus accelerate both our already promising commercial activities and the implementation of the resources necessary for future LCA60T operations.”
“Finally, 2022 and 2023 will see the entry of one or two new strategic countries, such as Canada/Quebec, to accompany the geographic deployment of this new transport infrastructure,” adds Bougon.
Since 2017, the industrial project has benefited from ongoing support from the French, and later Quebec public authorities, particularly in structuring programmes for the development of the industry – developed by the SGPI and piloted by Bpifrance and the Quebec Ministry of Economy and Innovation. The project is also supported by several French regions, including the Nouvelle Aquitaine Region, a shareholder in FLYING WHALES and the location of the French production site.
About FLYING WHALES
Founded in 2012 by Sebastien Bougon, FLYING WHALES is developing a programme, LCA60T, a rigid airship for heavy load transport with a carrying capacity of 60 tons. The company is also creating FLYING WHALES SERVICES, the business that will run the LCA60T.
The LCA60T’s hovering loading and unloading characteristics will offer solutions to numerous logistical and landlocked problems throughout the world, with a very small environmental impact. It was initially created to meet the needs of logging renewable wood resources in difficult-to-reach areas. This solution will allow, at a low cost, to free itself from all ground constraints for the point-to-point transport of heavy or bulky loads.
The LCA60T aeronautical programme
FLYING WHALES claim that the LCA60T is a “game-changer” towards environmental challenges. It reduces ground footprint as no infrastructure is required for operation, as well as reduces emissions due to its low, but soon to be 0 emissions, thanks to hybrid and soon full-electric propulsion.
In terms of safety, the Airworthiness Authority’s certifications combined with intrinsic characteristics (safe lifting gas, rigid structure, powerful propulsion) provide the LCA60T “maximum” level of safety.
Alain ROUSSET, President of the Regional Council of New-Aquitaine, says, “This is a breakthrough technological project, unique in Europe, which combines reindustrialisation in rural areas and ecological transition. This giant airship, designed to transport heavy loads of up to 60 tons from point to point with a low environmental footprint, brings us into the era of sustainable goods transport. The New Aquitaine Region was keen to win the battle to attract this project to our territory.”
