Boeing and Safran have invested in Electric Power Systems, an Utah, USA-based company developing energy storage systems for aircraft.
Electric Power Systems (EPS) said that the investment will help it develop a “highly automated” industrial base for producing aviation-grade energy storage systems and to support the development of technologies to reduce the costs of battery systems for electric airplanes.
Brian Schettler, managing director of Boeing HorizonX Ventures said, “This strategic investment accelerates the development of clean, quiet and safe urban air mobility solutions.”
Alain Sauret, Safran Electrical & Power’s president said, “We 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.
“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.”
Boeing HorizonX Ventures last year also invested in Cuberg, an advanced lithium metal battery technology company, in 2018. Safran has also recently invested in OXIS Energy, a UK-based developer of lithium-sulfur cell technology for high energy density battery systems.
Nathan Millecam, CEO of EPS said, “The 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.”
EPS develops the cells, power electronics, controls, software and thermal management systems for energy storage systems. The company is involved in several projects to develop hybrid and electric aircraft, including the NASA X-57, Bye eFlyer and Bell Nexus.
