Boeing and Safran have announced a joint investment in Electric Power Systems (EPS), a company offering a suite of safe, certifiable and lightweight energy storage products that provide high-quality power 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 advancement of technologies to further reduce the costs of battery systems for electric airplanes.
Boeing HorizonX Ventures and Safran Corporate Ventures jointly invested in EPS during this Series A funding round. EPS is the second advanced battery solutions company to join the Boeing HorizonX Ventures investment portfolio, following an investment in Cuberg, an advanced lithium metal battery technology company, in 2018.
Safran Ventures also recently invested in OXIS Energy, a U.K.-based leader in lithium-sulfur cell technology for high-energy-density battery systems.
