Adaptive Materials lands $3 million from Michigan Economic Development Corp.
Pittsfield Township-based fuel cell firm Adaptive Materials received $3 million from theÂ Michigan Economic Development Corp.'s Centers of Energy Excellence program, marking the latest capital infusion for the alternative energy leader.
Adaptive Materials said the funding would help it in the commercialization of its fuel cell technology, which helps provide low-weight portable power for various applications, including soldiers in the battlefield.
Lon Horwedel | AnnArbor.com
“Adaptive Materials is ready to move forward the fuel cell technology developed for soldiers in the field to provide portable power to consumers on the go,” chief business officer and co-founder Michelle Crumm said in a statement.Â “Funding from COEE provides the extra boost we need to break into the consumer market and deliver a truly game-changing technology.Â This market expansion will create the meaningful company growth that leads to more jobs for Michigan.”
The funding adds to a long string of recent successes for Adaptive Materials, whose fuel cell systems run on commercially available fuel like propane. The firm recently won a $4.7 million contract from the U.S. Department of Defense and a $3 million contract from the U.S. Air Force.
The influx in funding led Adaptive Materials to launch a hurried hiring initiative with plans to hire at least nine engineers within weeks. That push drew 7,100 job applications, Crumm told AnnArbor.com.
The MEDC funding was designed to help support budding alternative energy companies. The Ann Arbor region had already been established as a Center of Energy Excellence for battery companies.
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