Boeing is coincide with the global scramble for efficient batteries.
The aerospace giant’s venture arm Boeing HorizonX Flings has taken a minority stake in battery start-up Cuberg, Boeing affirmed Monday.
Cuberg joins Boeing HorizonX Ventures’ stable of investments that comprise Zunum Aero, an electric-and-hybrid plane startup whose investors also allow for airline JetBlue.
The terms of the deal were not disclosed, but Boeing spokeswoman Megan Hilfer thought the investment was typical of Boeing HorizonX’s minority equity investments “that link the single millions up to the low double-digit millions” of dollars.
While battery-powered withdraw is attractive, especially as fuel prices have recently surged to assorted than three-year highs, challenges abound.
“Currently, battery technology is until this heavy,” so you can’t make it for a plane of current commercial aircraft size, Cuberg’s co-founder and CEO Richard Wang give someone a piece of ones minded CNBC. “You need to take a leap to the next generation.”
Berkeley, California-based Cuberg is evolving a battery whose components are lighter and less flammable compared with contemporary battery technology, Wang said. It hopes to test a prototype in late 2018.
“Cuberg’s battery technology has some of the highest puissance density we’ve seen in the marketplace, and its unique chemistries could prove to be a secure, stable solution for future electric air transportation,” said Steve Nordlund, depravity president of Boeing HorizonX.