Raytheon Technologies venture capital group invests in Hermeus

Rhea-AI Summary

Raytheon Technologies (NYSE: RTX) has announced a strategic investment in Hermeus Corporation, joining a $100 million Series B financing round to support the development of hypersonic aircraft. The investment is part of RTX Ventures, aiming to advance aerospace and defense innovations. This partnership will enhance Hermeus' efforts in building its Quarterhorse aircraft and accelerating the Darkhorse project. RTX Ventures focuses on areas like artificial intelligence and precision sensing, emphasizing the importance of hypersonic technologies for national security.

Positive

• Joined a $100 million Series B financing, aiding Hermeus in aircraft development.
• Investment aligns with RTX's focus on advancing hypersonic technologies, critical for national security.
• RTX Ventures leverages broader Raytheon support for the growth of its portfolio companies.

Negative

• None.

RTX Ventures partners with hypersonic aircraft startup to accelerate innovation in the aerospace and defense sectors

WALTHAM, Mass., May 12, 2022 /PRNewswire/ -- Raytheon Technologies (NYSE: RTX) today announced a strategic investment in Hermeus Corporation, a company developing hypersonic aircraft for defense and commercial applications, through its newly established corporate venture capital group, RTX Ventures.

Joining Hermeus' previously announced $100 million Series B financing round, RTX Ventures' investment in the company will directly support the buildout of its first aircraft, Quarterhorse, and accelerate development of its next aircraft, Darkhorse.

RTX Ventures makes strategic investments in early-stage companies, accelerating the development of transformational aerospace and defense technologies. Beyond just making investments, RTX Ventures leverages the strengths of the broader Raytheon Technologies organization to support successful growth in its portfolio companies.

"Hypersonic technologies are of critical importance to national security, which is why we made our first investment in a company with such a bold plan and vision in this space," said Daniel Ateya, managing director of RTX Ventures. "Hermeus' technical approach and business plan balances near-term defense applications with long-term commercial aspirations and will help our customers reimagine the possibilities of hypersonic technologies."

"Hypersonic aircraft will radically accelerate air travel and enable the United States to address critical national security challenges," said AJ Piplica, CEO at Hermeus. "Speed is our lifeblood at Hermeus, and I've been impressed with the ability of the team at RTX Ventures to embody that virtue. We look forward to expanding collaboration and continued acceleration of our vision for a faster future." 

RTX Ventures focuses on supporting companies developing technologies that are strategically aligned to the Raytheon Technologies portfolio, with an emphasis on four broad priority areas: secure and connected ecosystems, autonomy and artificial intelligence technologies, power and propulsion systems, and precision sensing and effects.

About Raytheon Technologies
Raytheon Technologies Corporation is an aerospace and defense company that provides advanced systems and services for commercial, military and government customers worldwide. With four industry-leading businesses ― Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space and Raytheon Missiles & Defense ― the company delivers solutions that push the boundaries in avionics, cybersecurity, directed energy, electric propulsion, hypersonics, and quantum physics. The company, formed in 2020 through the combination of Raytheon Company and the United Technologies Corporation aerospace businesses, is headquartered in Waltham, Massachusetts.

Media contact:
Shannon N. Booker
C: 202-209-1824
Shannon.booker@raytheon.com      

 

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SOURCE Raytheon Technologies

FAQ

What is Raytheon Technologies' investment in Hermeus Corporation?

Raytheon Technologies (RTX) has invested in Hermeus Corporation, joining a $100 million Series B financing round to accelerate the development of hypersonic aircraft.

Why is hypersonic technology important for national security?

Hypersonic technology is crucial for national security as it enhances speed in air travel and addresses critical defense challenges.

What does RTX Ventures focus on?

RTX Ventures focuses on investments in early-stage companies developing technologies in secure ecosystems, autonomy, power systems, and precision sensing.

What will the investment support in Hermeus Corporation?

The investment will support the development of Hermeus' first aircraft, Quarterhorse, and accelerate the development of its next model, Darkhorse.

When was the investment by Raytheon Technologies announced?

The investment was announced on May 12, 2022.