magniX has been selected to Fast Company's annual list of the World's Most Innovative Companies (MIC) as number one in the energy category, for decarbonising commercial aviation. Fast Company's editors and writers sought out the most groundbreaking businesses, and the list honours the businesses making the greatest impact on both industry and culture.

In June 2019, magniX unveiled the world's most advanced electric propulsion systems for commercial aircraft focused on the middle-mile, with the all-electric 750-horsepower magni500 electric propulsion system, the 375-horsepower magni250 electric propulsion system, and the magniDrive, an aerospace-grade multi-application inverter. The electric propulsion systems produce zero emissions and will enable the reduction of aircraft operating costs by up to 80 per cent.

magniX also announced three flying platforms with Eviation, AeroTEC and Harbour Air, positioning the company as a leader in the electric aviation revolution. The first flight of the all-electric Beaver aircraft that took place December 10, 2019 with Harbour Air signalled the first step in the electric aviation revolution.

“The successful flight of the world's first all-electric commercial aircraft last year was a watershed moment for the transportation industry and served as a significant milestone for the electric aviation revolution,” says Roei Ganzarski, CEO of magniX. “I am incredibly proud of all that the magniX team has accomplished. This honour is well-deserved recognition for their tireless commitment and unending passion for what we are working to accomplish. Flying electric is no longer just a lofty goal for the future; we're making it a reality.”

In 2020, magniX is poised to keep the momentum going and will fly two additional all-electric aircraft including a Cessna Grand Caravan 208B, one of the world's most used middle-mile aircraft and the Eviation Alice, a newly designed nine-passenger all-electric plane.

The World's Most Innovative Companies is Fast Company's signature franchise and one of its most highly anticipated editorial efforts of the year. It provides both a snapshot and a road map for the future of innovation across the most dynamic sectors of the economy.

“At a time of increasing global volatility, this year's list showcases the resilience and optimism of businesses across the world. These companies are applying creativity to solve challenges within their industries and far beyond,” says Fast Company senior editor Amy Farley, who oversaw the issue with deputy editor David Lidsky.