Honeywell Buys UAS Fuel Cell Provider Ballard Unmanned Systems; Mike Madsen Quoted

Honeywell Buys UAS Fuel Cell Provider Ballard Unmanned Systems; Mike Madsen Quoted
Mike Madsen President and CEO Honeywell Aerospace

Honeywell (NYSE: HON) has purchased Ballard Unmanned Systems for an undisclosed sum as part of efforts to expand its portfolio of unmanned aerial systems and urban air mobility platforms.

The transaction includes Ballard Unmanned Systems’ intellectual property, equipment, inventory and team of fuel cell experts, Honeywell said Thursday.

Ballard Unmanned Systems is a wholly owned subsidiary of Ballard Power Systems (Nasdaq: BLDP) and manufactures hydrogen fuel cell systems for UAS used in defense, cargo delivery, energy inspection and other commercial applications.

"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 CEO of Honeywell Aerospace. 

Madsen added the acquisition will allow Honeywell to produce power systems for UAS clients and adapt those platforms for other future defense, aerospace and adjacent segment applications.

The acquisition came a month after Honeywell unveiled a research and development laboratory focused on demonstrating hardware and software platforms for UAS and UAM systems. The company created a business unit in June focused on expanding its UAS and UAM tech portfolio.

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