French aerospace technology company Safran has acquired an equity interest in OXIS Energy, a manufacturer of lithium-sulfur (Li-S) cell technology for battery systems.
Safran is participating in a £7-million round of fresh funding alongside Aerotec and new investors, including French materials company Arkema. The investments made by these companies, which include Samsung in a previous round of funding, take the total capital raised to just under £24 million.
The companies seek to use the raised capital to commercialize and automate mass production of rechargeable Li-S cells and modules for distribution to vehicle manufacturers, using digital manufacturing machinery. OXIS intends to focus on the aviation, defense, and heavy EV markets, such as buses and trucks.
“Safran 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.”