Edge Autonomy on Monday said it has acquired Adaptive Energy, a small company that designs and manufactures fuel cells used for backup, off-grid and unmanned aircraft system (UAS) power.
Terms of the deal were not disclosed. Adaptive Energy is based in Ann Arbor, Mich., and has about 40 employees.
Adaptive Energy provides solid oxide fuel cells (SOFC) for low-watt power and has nearly 2,000 of the systems deployed worldwide for use by military, critical infrastructure and transportation customers. Edge Autonomy has used the company’s lightweight, energy sense SOFCs in its UAS platforms for more than a decade.
Edge Autonomy is a portfolio company of the private equity firm AE Industrial Partners
(AEI) and was formed in February after the merger of UAV Factory and Jennings Aeronautics. AEI acquired Jennings Aeronautics last fall and merged it with UAV Factory to scale the company and strengthen its UAS and related offerings. At that time, the combined company had about 200 employees.
“Having used Adaptive Energy’s SOFCs for years, we know first-hand the value the team will bring to Edge Autonomy and our customers,” John Purvis, CEO of Edge Autonomy, said in a statement. “Adaptive Energy has done an impressive job investing in R&D, and we plan to leverage the company’s technology and research as we look to find new ways to further extend the duration and improve the performance of our autonomous systems.”
Edge Autonomy, which is based in California and also has facilities in Latvia, provides small fixed-wing and vertical take-off-and-landing UAS for defense and commercial customers. The company also designs and builds gimbals, electro-optic and infrared payloads, launchers and other related subsystems and components.
Adaptive Energy’s CEO Michael Edison and Chief Engineer Tom Westrich will remain with the company.
“The support that both Edge Autonomy and AEI can offer will allow us to continue our focus on developing cutting-edge SOFC power solutions for industry and military,” Edison said in a statement.
Edge Autonomy’s financial adviser on the deal was RSM US LLP.