Phase Four Secures Significant Investment in Series C Funding Round to Boost Space Propulsion Capabilities

On January 9, 2025, Phase Four, an innovator in advanced in-space propulsion technology, announced a milestone achievement with the first closing of its Series C funding round. The firm has successfully raised nearly 60% of its target, demonstrating strong backing from both new and existing investors.

Leading the round is Artemis Group Capital, an investment firm based in Oklahoma and chaired by Jim Bridenstine, who previously served as the Administrator of NASA. This partnership reflects the increasing confidence in Phase Four’s cutting-edge propulsion solutions and marks a crucial point in the company’s growth trajectory.

Dr. Umair Siddiqui, Chief Technology Officer at Phase Four, stated, “This funding is a pivotal milestone for Phase Four as we scale to meet surging global demand for in-space propulsion from the government and private sector.” He elaborated on the urgent need for enhanced production capabilities, noting, “The supply chain simply isn't keeping up. With this capital, we're ramping up production of our Valkyrie family of Hall Effect Thrusters to a minimum of 250 units per year.”

The heightened production will coincide with innovations in next-generation thruster technologies that are specifically designed to serve the Defense and National Security sectors. As the market for small satellite constellations and the need for in-space maneuverability continue to grow at an unprecedented rate, Phase Four finds itself strategically positioned to fulfill the critical demand for propulsion capabilities required by both commercial and governmental missions.

In collaboration with Redwire Space, listed on the NYSE under RDW, Phase Four expands its Valkyrie propulsion system capabilities. This partnership underscores both organizations’ belief that the initial demand for thrusters remains strong and will persist in the foreseeable future. Phase Four's expertise in the in-space propulsion market, combined with Redwire's established global presence in the space systems market, ensures a trustworthy domestic supplier of Hall Effect Thrusters.

Dr. Steve Kiser, CEO of Phase Four, expressed pride in advancing another U.S. company within the rapidly expanding in-space propulsion market: “As space-related supply chains around the world face geopolitical and economic risks, having another stable and domestic source for such a critical component of space power is vital.”

The firm aims to finalize its Series C funding round by the end of the first quarter of 2025. The proceeds will be directed toward ramping up manufacturing processes, accelerating research and development endeavors, and strengthening strategic relationships with leaders in the burgeoning space economy.

Founded in 2015, Phase Four emerged as a disruptive provider of next-generation in-space electric propulsion systems to meet the increasing demands of satellite constellation proliferation. It offers a full spectrum of solutions, from hardware and software to services, by collaborating with various constellation operators and satellite platform makers to optimize cost and mission effectiveness through innovative propulsion techniques. To learn more about Phase Four and its offerings, visit www.phasefour.io.

Artemis Group Capital, the investment partner leading this funding round, specializes in supporting space and defense enterprises. With a mission to promote national security objectives and facilitate transformative technologies for the next generation of the space economy, the firm is guided by the extensive experience of Jim Bridenstine.

The successful closure of this funding round not only strengthens Phase Four's market position but also contributes toward the wider advancement of the space industry, promising to enhance in-space capabilities critical for future missions.