Boeing and Safran have announced a joint investment in Electric Power Systems (EPS), a company offering a ‘suite’ of lightweight energy storage products for aerospace and other markets.

The joint investment will help EPS develop a “highly automated industrial base capable of producing aviation-grade energy storage systems at an unprecedented scale”.

The investment will also support the advance of technologies to further reduce the costs of battery systems for electric airplanes.

Brian Schettler, managing director of Boeing HorizonX Ventures (www.boeing.com), said: “EPS’s battery technology meets Boeing’s high standards of safety and can provide significant cost savings for customers.

“This strategic investment accelerates the development of clean, quiet and safe urban ‘air mobility’ solutions.”

EPS is the second advanced battery solutions company to join the Boeing HorizonX Ventures investment portfolio, following an investment in 2018 in Cuberg, an advanced lithium metal battery technology company.

Safran Ventures (www.safran-group.com) also recently invested in OXIS Energy, a UK-based leader in lithium-sulphur cell technology for high-energy-density battery systems.

Nathan Millecam, EPS CEO, said: “The electrification of flight has the potential to fundamentally change how goods, services and humans connect.”