The advanced battery solutions company Electric Power Systems (EPS) has gotten a boost with joint investment from Boeing and Safran.
Based in Logan, Utah, EPS supports electric and hybrid aircraft including the NASA X-57, Bye eFlyer, and Bell Nexus (for which Safran is also a supplier). Boeing and Safran said their Series A funding will help EPS develop a highly automated industrial base to produce aviation-grade energy storage systems at an “unprecedented” scale, and to further reduce the costs of those systems.
“EPS’ battery technology meets Boeing’s high standards of safety and can enable significant cost savings for customers,” stated Brian Schettler, managing director of Boeing HorizonX Ventures, in a press release. “This strategic investment accelerates the development of clean, quiet, and safe urban air mobility solutions.”
Safran Electrical & Power president Alain Sauret added, “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.”
The investment in EPS follows a 2018 investment by Boeing HorizonX in Cuberg, an advanced lithium metal battery technology startup based in Emeryville, California. Safran Ventures also recently invested in OXIS Energy, a U.K.-based developer of lithium-sulfur cell technology for high-energy-density battery systems.
“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,” stated EPS CEO Nathan Millecam.