Polar Power

Polar Power said MSI Defense Solutions has integrated its DC generator into the Electronic Advanced Ground Launcher System (EAGLS), which is used to detect and counter autonomous drones and rockets. EAGLS is currently deployed in the Middle East and can operate independently or as part of larger defense networks. Polar Power plans to expand its military sales and development activities and to position its power systems for applications that require reliability, low weight, compact design, fuel efficiency and low maintenance. The company did not disclose financial terms or order volumes. » More on de.investing.com

Polar Power is expanding into military applications and is developing power systems for drone defense, autonomous target-acquisition platforms, border security stations and unmanned surface vessels in collaboration with the U.S. Navy Warfare Center Dahlgren and several defense firms. The products are being evaluated for propulsion, communications, surveillance and defense applications on autonomous platforms; the company also supplies compact generators for mobile battery charging. Current military orders involve only small quantities, typically $1–1.5 million in annual revenue, and larger production contracts depend on successful completion of field tests and qualifications. » More on de.investing.com

Polar Power has added Jim Ahern and Menachem Menny Shalom to its board of directors. Ahern brings more than 40 years of leadership experience and teaches at the W. P. Carey School of Business; Shalom is CEO of T3 Defense and holds degrees in law, accounting, and banking and finance. The company says the appointments are intended to boost military sales, broaden the product offering, and advance its restructuring strategy. In the announcement, Polar Power also notes substantial doubt about its ability to continue as a going concern, limited cash and liquidity, and delisting risks, as described in its recent 10-K and 10-Q filings. » More on de.investing.com