Boeing and Safran invest in energy storage firm

Posted on 09 Oct 2019 and read 457 times
Boeing and Safran invest in energy storage firmBoeing 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.”

Be seen in all the right places!

Steelfab 2020 Expo Manufactura 2020 Southern Manufacturing 2020 WIN Eurasia 2020 Shenzhen International Machinery Manufacturing MACH 2020 ITM Industry Europe 2020 Manufacturing & Supply Chain Expo