Safran today has acquired an equity interest in OXIS Energy through its Safran Corporate Ventures subsidiary, which invests in disruptive technology businesses.
OXIS Energy, a leader in lithium-sulfur cell technology for high energy density battery systems, has already been granted 173 patents with 96 pending. Benefiting from more than 15 years of R&D in the field of lithium-sulfur chemistry, interest in its work from different industry sectors is growing significantly.
£7 million raised in new funding
Safran Corporate Ventures is participating in a £7 million round of fresh funding alongside Aerotec and new investors, including Arkema. The investments made by these companies take the total capital raised to just under £24m and include Samsung Ventures which contributed to the fund in December 2016. The capital raised will be used to commercialize and automate the process of mass production of rechargeable Lithium Sulfur cells/modules, using state of the art digital manufacturing machinery for worldwide distribution to manufacturers of vehicles. OXIS intends to focus on the aviation, defense and the heavy electric vehicles markets, such as buses and trucks.
Potential benefits for new hybrid and electric propulsion solutions on tomorrow's airplanes
Simultaneously, OXIS announces the signature of two Joint Development Agreements with its partners. Firstly, Safran and OXIS will cooperate on high energy density battery cells for the aviation industry.
"This technology cooperation is emblematic of Safran's strategy in hybrid propulsion solutions. Safran is already at the cutting edge of this field, and is considering the future use of OXIS cells in some of its products in order to offer a level of performance that sets us apart from competition, said Alain Sauret, Safran Electrical & Power CEO. The agreements will enable the two companies to pool our skills and effectively transform both R&D activities into disruptive products for our clients in aerospace."
Secondly, Arkema and OXIS have defined a common roadmap to further improve battery lifetime and energy density.
Date: Jan 22, 2019