Wednesday, June 19, 2013
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Aaron Crumm named president of alternative energy firm Adaptive Materials
Aaron Crumm, who developed the fuel cell technology that powered Adaptive Materials into one of the Ann Arbor area's hottest alternative energy firms, will take over as president of the Pittsfield Township-based company.
The couple announced in January that they had sold the company to United Kingdom-based Ultra Electronics Holdings plc in a deal worth $23 million immediately and possibly another $5 million tied to future milestones.
Today, Adaptive Materials said Michelle would continue to serve as an adviser to the company, which is now called Ultra Electronics Adaptive Materials Inc., but will step aside from day-to-day involvement. She had previously said that she would leave the company sometime this year and that Aaron would stay on board.
Phil Evans, divisional managing director of aircraft and vehicle systems for Ultra Electronics, is providing oversight of Adaptive Materials, which employs more than 50 workers at its 47,000-square-foot engineering and manufacturing division here.
Ultra has said that it plans to invest in Adaptive Material's Pittsfield Township operation. The Crumms have said that the sale was necessary to provide the deep pool of capital the company will need to expand its manufacturing capabilities and pursue new market opportunities.
The company makes portable fuel cells that can be used in military applications, including power backs for soldiers and unmanned aerial vehicles. The company is also pursuing the commercial RV market.
Source: Nathan Bomey, AnnArbor.com
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