diff --git a/docs/conf.py b/docs/conf.py
index f4142e4..19358e3 100644
--- a/docs/conf.py
+++ b/docs/conf.py
@@ -59,7 +59,7 @@
 # built documents.
 #
 # The short X.Y version.
-version = u'0.4.0'
+version = u'0.5.0'
 # The full version, including alpha/beta/rc tags.
 release = version
 
diff --git a/pyproject.toml b/pyproject.toml
index 9c86158..2b36fa1 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -4,7 +4,7 @@ build-backend = "setuptools.build_meta"
 
 [project]
 name = "grpc4bmi"
-version = "0.4.0"
+version = "0.5.0"
 description = "Run your BMI implementation in a separate process and expose it as BMI-python with GRPC"
 readme = "README.md"
 requires-python = ">=3.7"