PE-backed Edge Autonomy buys Adaptive Energy

Adaptive Energy is based in Ann Arbor, Michigan.

  • Adaptive Energy CEO Michael Edison and Chief Engineer Tom Westrich will remain with the company
  • RSM US LLP served as financial advisor to Edge Autonomy
  • Headquartered in San Luis Obispo, California, Edge Autonomy is a provider of unmanned and autonomous technology

Edge Autonomy, which is backed by AE Industrial Partners, has acquired Adaptive Energy, a provider of solid oxide fuel cells for backup, off grid and UAV power. No financial terms were disclosed.

Adaptive Energy is based in Ann Arbor, Michigan. Adaptive Energy CEO Michael Edison and Chief Engineer Tom Westrich will remain with the Company.

This marks the first add-on acquisition for Edge Autonomy since its formation after the merger of UAV Factory and Jennings Aeronautics in February 2022.

Edge Autonomy brings a diverse ecosystem of unmanned platforms, EO/IR camera payloads and global reach with manufacturing and flight test facilities that service customers with innovation, speed and agility.

“Adaptive Energy has been a pioneer in developing highly reliable, durable and lightweight power sources, which can extend the duration and effectiveness of UAV missions and transform the industry,” said Jeffrey Hart, a principal at AEI, in a statement. “AEI is proud to support this partnership, which will allow both companies to gain significant competitive advantages by working together.”

Akerman LLP served as legal advisor and RSM US LLP served as financial advisor to Edge Autonomy. Koenig, Oelsner, Taylor, Schoenfeld & Gaddis PC served as legal advisor to Adaptive Energy.

Headquartered in San Luis Obispo, California, Edge Autonomy is a provider of unmanned and autonomous technology.

AE Industrial Partners is a private equity firm specializing in aerospace, defense & government services, space, power & utility services, and specialty industrial markets.