Honeywell Acquires Ballard Unmanned Systems
-- Acquisition enters Honeywell into the hydrogen fuel cells market for unmanned aerial systems and broader aviation applicationsPHOENIX, Oct. 15, 2020 — (PRNewswire) — Honeywell (NYSE: HON) has acquired assets from privately held Ballard Unmanned Systems, a wholly owned subsidiary of Southborough, Mass.-based Ballard Power Systems Inc. Ballard Unmanned Systems designs and produces industry-leading, stored-hydrogen proton exchange membrane fuel cell systems that power unmanned aerial systems (UAS), particularly those used for energy inspection, cargo delivery, and other commercial and defense applications where demand for UAS services is growing.
Honeywell is acquiring the key intellectual property, inventory and equipment of Ballard Unmanned Systems. Ballard's team of fuel-cell experts will also join Honeywell as part of the acquisition.
"Adding Ballard Unmanned Systems to the Honeywell family is another example of our commitment to invest in the growing UAS segment," said Mike Madsen, president and chief executive officer, Honeywell Aerospace. "We can now begin producing top-quality, scalable power systems for our UAS customers and eventually adapt these systems for other future aerospace, defense and adjacent segment applications."
Fuel cells function much like traditional batteries but with a key difference: They don't run out of power or need to be recharged. A fuel cell uses the chemical energy of hydrogen or another...