Lockheed Martin's $24m Bet on mPower's Space Solar Revolution
Lockheed Martin Ventures' investment in mPower Technology strengthens the future of space solar power, raising Series B funding to over $24m.
Space innovation takes a giant leap forward with a major strategic investment from Lockheed Martin Ventures in mPower Technology. Known for its pioneering work in flexible solar solutions, mPower Technology has successfully attracted a substantial investment, bolstering its total Series B funding to over $24 million. This financial boost stands to catalyze the mass production of their groundbreaking DragonSCALES solar modules, setting a new precedence in space solar power.
Scaling New Heights in Space Solar Power
DragonSCALES by mPower Technology reflects a paradigm shift in solar technology for space. Its innovative design offers flexibility, resilience, and cost-efficiency, addressing critical needs in the evolving space ecosystem. The backing from Lockheed Martin not only acknowledges mPower’s role in advancing solar power in space but also reinforces the importance of strategic priorities in national defense and security.
Endorsements from Industry Titans
The endorsement from aerospace giant Lockheed Martin adds to the growing list of mPower’s prestigious partners, including Airbus and Blue Origin. “Lockheed Martin’s strategic insights and commitment to space exploration align with our mission to deliver rapid, scalable solutions for the new space economy,” said Kevin Hell, CEO of mPower Technology. As emphasized by Chris Moran, VP of Lockheed Martin Ventures, the importance of affordable and reliable power in national security cannot be overstated, and mPower’s technology is a vital enabler for future missions.
A Legacy of Innovation
The journey of DragonSCALES doesn’t stop at investment alone. With a proven track record of more than a decade of on-orbit experience, mPower Technology stands as a formidable force in the aerospace sector. Their partnership with Airbus has already seen the deployment of groundbreaking solutions like the Sparkwing solar arrays which power the AURORA satellites in low Earth orbit. According to SatellitePro ME, these achievements underscore mPower’s commitment to revolutionizing the space solar landscape.
The Production Frontier: Meeting Demand
The manufacturing scale at mPower’s facility in New York is set to achieve remarkable outputs, positioning it well ahead of traditional solar suppliers. With its capacity to produce over two megawatts annually, mPower Technology is not just competing but leading the way, surpassing the combined capabilities of previous industry standards.
Embracing the Future of Space Exploration
The investment heralds a new age for space solar advancements, with DragonSCALES at its core, promising enhanced spacecraft configurations and efficiency. This partnership is not just an investment in technology but a vision for empowering the space missions of tomorrow. With stakeholders like Lockheed Martin championing the cause, the horizon for space exploration looks brighter—and more solar-powered—than ever.