Boeing, Safran Invest In EPS

Boeing and Safran have announced that they will be making a joint investment in energy solutions company Electric Power Systems (EPS). Boeing says the investment is intended to go toward the development of “a highly automated industrial base capable of producing aviation-grade energy storage systems” along with supporting technological advancements aimed at reducing the cost of battery systems for electric aircraft.

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

According to Boeing, EPS is the second advanced battery solutions company it has invested in after advanced lithium metal battery technology company Cuberg in 2018. Safran has also made previous investments with an eye toward electric aircraft power, acquiring a stake in U.K.-based OXIS Energy last January. OXIS is developing lithium-sulfur cell technology for high energy density battery systems.