TOULOUSE, France--(BUSINESS WIRE)--Regulatory News:
Latécoère (Paris:LAT), a leading partner of the world’s major aerospace manufacturers, has invested in breathing specialist Caeli Nova to support the development of its in-flight emergency oxygen system. Caeli Nova’s innovative system will increase passenger safety in flight, reduce costs for airlines and diminish the carbon footprint of aircraft by enabling the most direct routes. It should be certified and installed as early as next year.
Latécoère is participating alongside other investors, including lead investor Ornament Health, in the Series A round of financing of Caeli Nova.
"Through this investment and industrial partnership, Latécoère is proposing to support a breakthrough technology that will simplify and improve flight safety by significantly extending the time during which passengers have access to an emergency breathing assistance system. We are pleased to be able to provide our advice in the current R&D phase as well as in the industrialization one in the future. We are thus realizing our ambition to serve the aerospace industry with innovative solutions for a sustainable world." says Serge Bérenger, Director of Innovation and R&T at Latécoère.
Caeli Nova, co-founded by Swiss venture builder LG Capital in 2017, is a UK and Swiss-based company at the intersection of healthcare and aviation, that now has 40 experts specializing in breathing technology, initially starting with providing a novel emergency oxygen system for passenger aircraft. The company has already received financial support from the UK Government, via Innovate UK.
About Latécoère
As a "Tier 1" international partner of the world's major aircraft manufacturers (Airbus, Boeing, Bombardier, Dassault, Embraer and Mitsubishi Aircraft), Latécoère is active in all segments of the aeronautics industry (commercial, regional, business and military aircraft), in two areas of activity:
- Aerostructures (55% of turnover): fuselage sections and doors,
- Interconnection Systems (45% of turnover): wiring, electrical furniture and on-board equipment.
As of December 31, 2020, the Group employed 4,172 people in 13 different countries. Latécoère, a French limited company capitalised at €132,745,925 divided into 530,983,700 shares with a par value of €0.25, is listed on Euronext Paris - Compartment B, ISIN Codes: FR0000032278 - Reuters: LAEP.PA - Bloomberg: LAT.FP.
About Caeli Nova:
Caeli Nova’s patented breathing technology can improve oxygenation of the human body in demanding situations such as altitude.
Caeli Nova’s first product, Cordillera, is an emergency oxygen system suitable for commercial and military passenger aircraft. This key safety system is designed to protect passengers in the rare event of a loss of cabin pressure, known as a decompression. In addition, Cordillera removes operational constraints and limitations facing airlines, airframers and defence aerospace today, thereby allowing airlines to operate shorter flights, with associated reductions in fuel and carbon emissions.
For more information, visit: https://caelinova.com/
About LG Capital:
LG Capital AG, led by its founder & serial entrepreneur Leo Grünstein and its Managing Director Övünç Okyay, is a Switzerland-based venture builder that teams up with strong founding teams to realize big-idea ventures from scratch. It creates ventures from the ground up as co-founder with a 7-10+ year time horizon and supports them from foundation in the fields of C-level team building, strategy & business planning, fundraising, international expansion, corporate finance and best practice sharing.
About Ornament Health:
Ornament Health AG is a Swiss company developing the app Ornament. Based on the principles of preventative medicine, the app helps users around the world monitor their health, download test results, and track the dynamics and analytics of biomarkers. Ornament Health AG was founded in 2019 and has dynamically developed health solutions by bringing together experts in the fields of medicine and technology. Since launching its app in late 2019, Ornament has now achieved an active monthly audience of more than 100'000 users.