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Ultralife Corporation
Ultralife Corporation was founded in 1991 and went public in 1996, listing on NASDAQ under the ticker ULBI.
Ultralife Corporation
Ultralife Corporation was founded in 1991 and went public in 1996, listing on NASDAQ under the ticker ULBI. The company began as a designer and manufacturer of lithium primary and rechargeable batteries, later expanding into power systems and communications equipment. Michael D. Popielec was appointed President and CEO in 2019, succeeding earlier leadership; Philip A. Fain serves as CFO. The underlying wealth is generated through revenue from government and military contracts, commercial medical device partnerships, and industrial equipment supply (public record). The firm operates across two segments: Battery & Energy Products and Communications Systems. The Battery segment produces lithium batteries for radios, medical devices, and remote sensors, while Communications Systems designs amplifiers, chargers, and power management gear for defense and security. Geographically, Ultralife sells to customers in North America, Europe, and the Middle East. Portfolio milestones include contracts with the U.S. Department of Defense and NATO member nations, as well as partnerships with medical device OEMs like LivaNova (per SEC filings, 2023). The company's manufacturing footprint includes facilities in Newark, New York, and abroad. As a publicly traded corporation, Ultralife has a market capitalization of roughly $100M to $150M in recent years. The company employs approximately 600 people globally, according to its annual report. It does not operate any named family office or philanthropic foundation. May 2025: Ultralife reported first-quarter revenue of $16.5M, citing higher demand from defense and medical customers (per company press release, May 2025). Ultralife's structural differentiator is its position as a qualified supplier to military and aerospace buyers requiring high-reliability power solutions — a barrier to entry given security clearances, certification processes, and long-standing relationships. The company's ownership is dispersed among public shareholders, not concentrated in a family, so its governance follows public-company norms rather than family-office hierarchy.
General information
Firm type
Corporation
Year founded
1991
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Newark
Corporate office
Newark, United States
Principals
Michael D. Popielec
President and Chief Executive Officer
Philip A. Fain
Chief Financial Officer
Sector focus
Frequently asked questions
Who runs investment decisions at Ultralife Corporation?
Michael D. Popielec is President and CEO, overseeing strategy and capital allocation. The company's board of directors, including independent directors, approves major investments and M&A. As a public company, decisions are made through management and board — not a family office.
Is Ultralife Corporation a family office or investment firm?
No. Ultralife Corporation is a publicly traded industrial company (NASDAQ: ULBI) that manufactures batteries and power systems. It is not a family office or asset manager; its shareholders are public investors.
How does Ultralife Corporation source proprietary deal flow?
Ultralife does not engage in external investment sourcing. Its growth comes from organic R&D and winning government contracts through competitive bidding. The company has pursued small acquisitions of complementary businesses in the past, such as its 2013 purchase of ABL Technologies.
What investment stages does Ultralife Corporation typically target?
As an operating company, Ultralife does not target investment stages. Its capital expenditure goes toward manufacturing equipment, facility expansion, and R&D for specific product lines.
Which sectors does Ultralife Corporation explicitly avoid?
The company's public filings do not list excluded sectors, but its focus is on government, defense, aerospace, and medical clients. It does not participate in consumer electronics, real estate, or venture capital.
How is Ultralife Corporation related to its parent or related vehicles?
Ultralife has no parent entity. It is independent and publicly traded. There are no known related family office or private investment funds connected to the firm.
Where does the underlying wealth of Ultralife Corporation come from?
The company generates revenue from selling power products. Its profits come from government and military contracts, medical device supply, and industrial sales. There is no single-family-wealth origin; value accrues to public shareholders.
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