United Airlines Holdings Inc (NASDAQ: UAL) said it has invested in Electric Power Systems, a company producing battery technology for aerospace applications. The financial details of the investment were not disclosed.
United is targeting EPS modules for potential use in the airline's current ground operations while eyeing an all-electric flight academy in the future.
This is United's second investment in electric battery technology, after sodium-ion battery-maker Natron.
Electric Power Systems aims to provide a whole battery "ecosystem" for aviation, from the packs on aircraft to charging stations on the ground.
"What makes EPS's technology different and exciting is the scope of operational possibilities where we have the option to deploy it today and, in the future, to help electrify and decarbonize our operations," said United Airlines Ventures President Michael Leskinen.
EPS's powertrain could serve as the core propulsion system for a family of future electric aircraft concepts, starting with an electric trainer.
Recently, United Airlines clocked second-quarter earnings of $5.03 per share versus the analyst consensus of $4.03
Price Action: UAL shares are trading higher by 2.2% at $57.83 on the last check Friday.