Boeing and Safran continue to commit to the electrification of aircraft technology
The two companies recently announced a joint investment in Electric Power Systems. (EPS), a company offering a multitude of lightweight energy storage products for the aerospace industry. Based in Logan, Utah, the privately held aerospace company specializes in advanced energy storage systems comprised of cells, power electronics, controls, software and thermal management systems. The company’s technology supports a host of electric and hybrid electric airplanes such as the Nasa X57, Bye eFlyer and Bell Nexus.
“Electrification of flight has the potential to fundamentally change how goods, services, and humans connect. We are thrilled to work with visionary companies such as Boeing and Safran to further develop and field advanced energy solutions that can meet real world mission demands,” said Nathan Millecam, EPS chief executive officer.
Headlining EPS’s Series A funding round, the investment is intended to aid EPS in developing a highly automated industrial base in order to produce aviation-grade energy storage systems. EPS is also working on a means to further improve upon the current battery technologies in aircraft and reduce the costs of battery systems in electric airplanes and eVTOLs.
“EPS’ battery technology meets Boeing’s high standards of safety and can enable significant cost savings for customers,” said Brian Schettler, managing director of Boeing HorizonX Ventures. “This strategic investment accelerates the development of clean, quiet and safe urban air mobility solutions.”
EPS follows Cuberg, an advanced lithium metal battery technology company, as the second advanced battery solutions company in Boeing’s HorizonX Ventures investment portfolio. In addition, Safram Ventures has also invested in OXIS Energy, a UK-based company offering lithium-sulfur technology for high energy density battery systems.
“Safran will collaborate with EPS to offer our customers electric or hybrid-electric propulsion systems with a level of performance that sets us apart from competition,” said Alain Sauret, Safran Electrical & Power President. “This technology cooperation is emblematic of Safran’s strategy in greener propulsion solutions. Safran is already at the cutting edge of this field, and we are proud to accelerate through this investment.”
Why it’s important: Aerospace companies place a continued interest in the further development in battery systems technologies, dedicated to eventually shifting all existing aircraft power systems over to a completely electric battery system. This recent investment in EPS increases the chances that complete electrification of the aerospace market and the aerial mobility industry occurs within the next decade.
Sources // Newswire Today