Akerman LLP represented Edge Autonomy, a leader in unmanned and autonomous technology, in its acquisition of Adaptive Energy, a globally recognized designer and manufacturer of solid oxide fuel cells (SOFC) for backup, off grid and UAV power. Terms of the transaction were not disclosed.
With more than two decades of fuel cell manufacturing expertise and nearly 2,000 SOFC systems deployed worldwide, Adaptive Energy is the leading provider of SOFC for low-watt power. Adaptive Energy’s innovative solutions are used in military, critical infrastructure and transportation end-markets by U.S. federal agencies and commercial customers. In addition, Adaptive Energy’s lightweight, energy dense SOFC have been integrated as critical technology in Edge Autonomy’s UAV platforms for more than 10 years.
The deal 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 is a portfolio company of AE Industrial Partners, a U.S.-based private equity firm specializing in aerospace, defense & government services, space, power & utility services and specialty industrial markets.
The Akerman team representing Adaptive Energy was led by M&A and Private Equity Practice Co-Chair Paul Quinn in West Palm Beach and supported by corporate partners Gabriella Botifoll and Carl Roston, and corporate associate Andrew Kim.