Periodic Reporting for period 1 - EPS55 (Electric Propulsion System for the Air Transportation of Tomorrow)
Período documentado: 2019-03-01 hasta 2019-06-30
As part of the phase 1 activities for H55, we conducted a comprehensive feasibility study with the aim of assessing the Technical, Commercial and Financial feasibility of our novel EPS55 electric propulsion and battery management system for very light aircraft and VTOL.
Technically, a deep study was undertaken into the EPS prototype improvements effected to date, with promising developments for our battery management and electric propulsion systems. Following a successful prototype development, we managed to initiate validation and testing through the flying the Bristell B23 trainer on the 21st of June 2019. We have already acquired experimental certification for our prototype, with further validation expected to facilitate the future optimisation and attainment of full commercial certification for the EPS55 solution. To ensure continued technical development, a comprehensive technical risk assessment was conducted, with robust mitigation strategies put in place to ensure successful development.
Commercially, a deep market analysis revealed an increasing demand for electric propulsion and pilot trainers, with a growing number of players developing electric-powered VLA and VTOL technologies. We have also identified strategic partnerships for component supply and certification, including establishing commercial networks for market penetration. A patent study has shown that EPS55 does not infringe on existing technologies, therefore enabling the continued development of our solution. Further protection of our IP is underway, with periodic IP landscape searches scheduled to ensure continued freedom to operate.
Financially, our cost-benefit analysis comparing EPS55 with the corresponding combustion type engines for flight trainers have shown that using an EPS55 powered flight trainer resulted in at least 80% cheaper operating costs, compared to competitor technologies. Our market study has shown immense potential for sales within the trainer and VTOL markets, with EPS55 projected to generate potentially over €100 million in accumulated revenue by 2025.
Commercially, a deep market analysis revealed an increasing demand for electric propulsion and pilot trainers, with a growing number of players developing electric-powered VLA and VTOL technologies. We have also identified strategic partnerships for component supply and certification, including establishing commercial networks for market penetration. A patent study has shown that EPS55 does not infringe on existing technologies, therefore enabling the continued development of our solution. Further protection of our IP is underway, with periodic IP landscape searches scheduled to ensure continued freedom to operate.
Financially, our cost-benefit analysis comparing EPS55 with the corresponding combustion type engines for flight trainers have shown that using an EPS55 powered flight trainer resulted in at least 80% cheaper operating costs, compared to competitor technologies. Our market study has shown immense potential for sales within the trainer and VTOL markets, with EPS55 projected to generate potentially over €100 million in accumulated revenue by 2025.
Although electric propulsion is still new, we have already demonstrated the significant potential benefits of electric propulsion. Our preliminary assessments reveal that aircraft operational costs are reduced by at least $92.5/h owing to the low electricity costs. Compared to combustion powered aircraft, our propulsion system is not only lighter but also cheaper, quieter and environmentally safe.