Malta-based electric company gets $3.3M in funding

MALTA, N.Y. (NEWS10) -- Wright Electric, based in Malta, was awarded $3,342,094 for its new Ultra-High-Energy Battery Project and research and to develop a new class of batters for zero-emission electric passenger aircraft. The funding comes from the Federal Aviation Administration (FAA)'s Fueling Aviation's Sustainable Transition (FAST) grant program, funded through the Inflation Reduction Act.

Wright Electric develops electric aircraft to make all regional, single-aisle flights zero emissions. According to Senator Schumer's office, its Ultra High Energy Battery Project will boost its ongoing research into new, highly energy-dense batteries. The goal is to produce batteries that hold more energy per pound of weight than the best electric car batteries.

“When Wright Electric was founded in 2016, the idea of a battery that would allow aircraft to fly regional routes with reserves seemed like a fantasy to most people,” says Jeff Engler, CEO at Wright Electric. “Now, we are one of several companies with a viable path toward a technology that will enable regional aircraft flights entirely on battery power.”