Defense startup Epirus is undergoing a change in leadership as CEO Ken Bedingfield leaves his position to pursue a new opportunity at an undisclosed public company. The news of Bedingfield’s departure was announced at an all-hands meeting, and it has been confirmed that COO Andy Lowery will take over as CEO with immediate effect.
Key Takeaway
CEO Ken Bedingfield is leaving Epirus to pursue a role at an undisclosed public company. COO Andy Lowery will assume the position of CEO. Epirus specializes in the development of cutting-edge “directed-energy” weapons, and the company recently secured a $66 million contract from the U.S. Army. Bedingfield’s departure marks a significant change in leadership for the defense startup, but the transition is expected to be smooth with the existing expertise and experience within the company.
A Brief Recap of Ken Bedingfield’s Stint at Epirus
Ken Bedingfield joined Epirus as the CEO less than a year ago, following his tenure as the COO and CFO since June 2020. With an extensive background in the aerospace and defense industry, Bedingfield brought valuable experience to the company, having previously served as CFO at Northrop Grumman.
Epirus’ Cutting-Edge Technology
Based in Torrance, California, Epirus specializes in the development of “directed-energy” weapons designed to counter drones and other aerial vehicles. Their flagship product, named Leonidas, utilizes high-power microwave technology mounted on a gimbal to effectively neutralize systems from various distances. The company recently secured a $66 million contract from the U.S. Army to deliver several prototypes of the Leonidas system this year.
Epirus has garnered significant interest from investors, as evidenced by their successful Series C funding round last year. They raised $200 million, valuing the company at $1.35 billion post-deal. Notable investors in this round included T. Rowe Price Associates, 8VC, and Bedrock.
Smooth Transition and Future Prospects
Regarding Bedingfield’s departure, an Epirus spokesperson stated, “Over the past year, Ken led the company through a number of important milestones and achievements, most notably the successful delivery of the first IFPC-HPM system to the U.S Army, cementing a clear pathway towards delivering an operational high-power microwave capability to the Department of Defense.”
