One approach that I find much more promising is using Haskell (or other robust and semantically easy to reason about and easy to verify languages) to generate C code which then can be used with normal toolchains for low-level development. Galois is doing a lot of work in this area that looks very promising. One of their projects is an autopilot system called SMACCMPilot[0] that uses a Haskell eDSL called Ivory[1] to generate safe C code. I am particularly excited about its integration with FreeRTOS tasks using the Tower Language[2] (another Haskell eDSL).
This makes it possible to generate code that can be reasoned about with Haskell but has the runtime characteristics of C. This is particularly interesting because embedded systems code is notoriously non-composable and difficult to reason about due to the enormous shared state of the hardware itself and the highly concurrent nature of interrupt-driven design. Embedded C makes a good target for this sort of design and analysis though, because it has very constrained memory usage (developers typically eschew dynamic allocation), very subtle potential issues (debugging race conditions with LEDs sucks), and very serious consequences for errors[3].
[0]http://smaccmpilot.org/index.html
[1]http://smaccmpilot.org/languages/ivory-introduction.html