Benzinga | Jul 15, 2021 03:49PM EDT

Pratt & Whitney Advances Sustainable Hybrid-Electric Propulsion Technology

* Raytheon Technologies Corp (NYSE:RTX) division Pratt & Whitney (P&WC) plans to advance its hybrid-electric propulsion technology and flight demonstrator program as part of a $163M CAD investment, supported by the governments of Canada and Quebec.

* The new hybrid-electric propulsion technology drives significant improvements in aircraft efficiency by optimizing performance across the different phases of flight.

* P&WC is working with De Havilland Aircraft of Canada Limited to integrate this hybrid-electric technology into a De Havilland Canada Dash 8-100 flight demonstrator.

* P&WC to target ground testing in 2022, leading to flight testing of the Dash 8-100 demonstrator in 2024.

* As part of Canada's green recovery plan, the Government of Canada's Strategic Innovation Fund is backing the technology demonstrator.

* Price action: RTX shares traded higher by 0.14% at $85.03 on the last check Thursday.