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Business/Financial

Boeing Venture Army Invests In Battery Storage Startup Cuberg

By Cal Biesecker

Monday, January 29th, 2018

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Boeing Venture Army Invests In Battery Storage Startup Cuberg

RIchard Wang, CEO and co-founder of Cuberg.

Boeing [BA] said on Monday that its HorizonX Ventures arm has made an investment in a small battery storage company that it believes could help with development of electric and hybrid propulsion systems for aircraft.Boeing didn’t disclose the size of the investment, which is typically a minority position. A company spokeswoman told Defense Daily such investments range between “the single millions up [to] the low double-digit millions” of dollars, adding that the “investment in Cuberg is within that range.”California-based Cuberg…

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