Hybrid eVTOL Company Plana Signs Letter of Intent with Electric Power Systems for Advanced Air Mobility Batteries

November 01, 2022 10:00 AM Eastern Daylight Time LOGAN, Utah--(BUSINESS WIRE)--Electric Power Systems (EP Systems), a leading global electric powertrain supplier in the aviation industry, today announced it has entered into a Letter of Intent (LOI) with Plana, a hybrid eVTOL company based in South Korea. Plana will deploy EPS's battery system for its commercial hybrid eVTOL aircraft, which is targeted for commercialization in 2028.

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EPS adds Plana to a growing list of customers, which includes NASA, the FAA, Boeing, Safran, and Supernal. The company also provides its electric powertrain system to X-57, Boeing's CAV (Cargo Air Vehicle), and Bell Helicopter's hybrid Advanced Air Mobility aircraft (Bell Nexus).

Plana, founded in July 2021, is the sole hybrid eVTOL startup in Korea. Plana develops hybrid eVTOL aircraft, which carries four to six passengers with one pilot, with a cruising speed of 300 km/h (maximum 350 km/h) and flight range of more than 500km.

Plana plans to finish the pure battery-based eVTOL subscale test this year and introduce a 700kg weight half-scale model next year. The company plans to launch a branch office in the U.S. for closer communication and starting the certification process with the FAA, and to participate in the Korean Grand Challenge UAM demonstration project organized by the Korea Ministry of Land, Infrastructure, and Transport (MOLIT).

Plana is accelerating its Advanced Air Mobility business with collaboration and Research & Development expertise from numerous partners across the aerospace industry, such as Airbus, Collins Aerospace, Turkish Aerospace Industries, Korea Aerospace Industries, and from the automotive industry, such as Hyundai Motor Company, Honda Motor Company, Mando, Autoliv, and Valeo.

'It is quite a meaningful moment for Plana to sign this Letter of Intent with EPS, which has established a reputation in the electric aviation industry for its expertise and reliable systems,' said Braden J. Kim, CEO of Plana Now.

"Plana has been named one of the top eVTOL development programs to watch,' said Nathan Millecam, CEO of EPS. 'We are thrilled that the Plana team has put their trust in us and are excited for this exciting collaboration.'

About Electric Power Systems

EP Systems provides high-power, scalable and certifiable powertrains for electrified aviation. It develops energy storage systems, DC fast-charging stations, and electric propulsion products for aerospace, defense, automotive, marine, and industrial traction industries. EP Systems has numerous battery systems currently powering manned and unmanned aircraft (e.g. Diamond eDA-40, NASA X-57, Aurora Flight Sciences Pegasus, Embraer Ipanema, and Boeing CAV). Advanced features, such as its patented, lightweight containment box, produce safer battery systems and have resulted in a perfect safety record in the field.