RTX's Pratt & Whitney Canada selected by Clean Aviation to lead PHARES hybrid-electric propulsion consortium

Core Insights - Pratt & Whitney Canada has been selected to lead the Powerplant Hybrid Application REgional Segment (PHARES) project under the European Union's Clean Aviation initiative, marking the first time a Canadian company will lead such a program [1][3] - The PHARES project aims to develop a hybrid-electric propulsion demonstrator that targets up to 20% improved fuel efficiency for regional aircraft missions [2][3] - The Clean Aviation program has a budget of €4.1 billion, with €1.7 billion from EU funding and at least €2.4 billion from private funding, aiming to reduce emissions of regional aircraft by at least 30% compared to 2020 standards [4] Company and Industry Overview - RTX is the world's largest aerospace and defense company, with over 185,000 employees and projected sales exceeding $80 billion in 2024 [5] - The PHARES project aligns with RTX's technology roadmap focused on hybrid-electric propulsion and electrified aircraft systems, supporting the aviation industry's decarbonization goals [3][4] - The Clean Aviation Joint Undertaking represents a significant public-private partnership aimed at transforming aviation towards sustainability and climate neutrality [4]