Brenda Marie Rivers
Electric Power Systems, a manufacturer of high-power energy storage systems, has secured Series A funding from Boeing and Safran to help further the production of next-generation battery technology.
The two firms made a joint investment in EPS to support the development of lightweight energy storage products designed for electric aircraft, Boeing said Tuesday.
Brian Schettler, managing director at Boeing HorizonX Ventures, said EPS’ battery offerings meet Boeing’s safety requirements and will help the company improve the quality of future air mobility products.
Alain Sauret, president of electrical and power at Safran, added that the investment supports the company’s efforts to develop more environmentally friendly propulsion systems.
Boeing previously invested in lithium battery manufacturer Cuberg, while Safran Ventures recently allocated funds for lithium-sulfur cell technology maker OXIS Energy.
Logan, Utah-based EPS offers energy storage systems encompassing power electronics, cells, controls, software and thermal management technologies for electric and hybrid electric planes.
