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Wright Electric Receives $3.34M Award From FAA FAST Program for Battery Development
Aug 19, 2024•almost 2 years ago
Contract Type
partnership
Description
Wright Electric and its partners have been selected to receive a $3.34M award from the FAA FAST program to develop a new class of batteries that will enable zero emission aircraft flights on large 100+ passenger aircraft. The objective of the R&D program is to construct highly energy dense batteries which hold roughly three times more energy per pound of weight than the best electric car batteries.
Agreement Insights
Based on industry dataStrategic partnership established
Partnership agreements typically involve technology integration and joint go-to-market strategies
Contract momentum indicator
Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months