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Boeing and Safran invest in EPS

23rd September 2019 - 10:30 GMT | by The Shephard News Team

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Boeing and Safran have jointly invested in Electric Power Systems (EPS), a company that offers certifiable and lightweight energy storage products for the aerospace market.

The investment will enable EPS to further develop aviation-grade energy storage and advance technologies to reduce the costs of battery systems for electric aircraft.

Between them, Boeing HorizonX Ventures and Safran Corporate Ventures are strengthening their advanced battery solutions capabilities. In 2018 Boeing invested in Cuberg, an advanced lithium metal battery technology company; while Safran Ventures also recently invested in OXIS Energy, a UK-based leader in lithium-sulphur cell technology for high energy density battery systems.

Brian Schettler, managing director of Boeing HorizonX Ventures, said: ‘EPS' battery technology meets Boeing's high standards of safety and can enable significant cost savings for customers. This strategic investment accelerates the development of clean, quiet and safe urban air mobility solutions.’

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