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Posted on Mon, Mar 29, 2010 : 4:30 p.m.

Adaptive Materials lands $3 million from Michigan Economic Development Corp.

By Nathan Bomey

Pittsfield Township-based fuel cell firm Adaptive Materials received $3 million from the 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.

Michelle Crumm.JPG

Adaptive Materials co-founder Michelle Crumm

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.  “Funding from COEE provides the extra boost we need to break into the consumer market and deliver a truly game-changing technology.  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.

Contact AnnArbor.com’s Nathan Bomey at (734) 623-2587 or nathanbomey@annarbor.com or follow him on Twitter. You can also subscribe to AnnArbor.com Business Review's weekly e-newsletter or the upcoming breaking business news e-newsletter.

Comments

Lets Get Real

Thu, Apr 1, 2010 : 12:19 p.m.

OK, enough of this story. How many different versions do we have to read about this "darling" of the local media. It's still YOUR tax money on which they live. YOU are the investor with no ROI who funds this business. No matter how many times or how many ways Ann Arbor.com tells this story, the facts are still the same. Adaptive Materials supports its owners lifestyle and lives on public money - YOURS.