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Boeing Invests in Cuberg Via HorizonX to Back Battery Tech Development

Boeing Invests in Cuberg Via HorizonX to Back Battery Tech Development - top government contractors - best government contracting event

Boeing Invests in Cuberg Via HorizonX to Back Battery Tech Development - top government contractors - best government contracting eventBoeing has invested in Cuberg to help the Berkeley, California-based startup further develop its battery cell technology for potential applications within the industrial and aerospace sectors.

Boeing said Monday it made the investment through its ventures arm HorizonX, which spearheaded a seed funding round that included HPC Energy Services.

Former researchers at Stanford University founded Cuberg in April 2015 to advance the development of a battery platform designed to generate high-energy density through the use of a lithium metal anode, high-voltage cathode and electrolyte.

Steve Nordlund, vice president of Boeing HorizonX, said Cuberg's battery technology could lead to the development of a new platform for electric air transportation.

Cuberg CEO Richard Wang said the company will use the investment to expand its research-and-development facilities and staff in order to facilitate the integration of batteries into clients' products and transition the technology to full production phase.

The funding round marks the company's initial investment in an energy storage firm since it launched HorizonX in April 2017.

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