#USA #Albuquerque #mPower Technology #Razor's Edge #DragonSCALES

mPower Technology Secures Significant Series B Funding

In a remarkable development for the aerospace industry, mPower Technology, a frontrunner in solar power innovations specifically designed for space applications, has successfully closed a Series B funding round exceeding $21 million. This funding was spearheaded by Razor's Edge Ventures and supported by Shield Capital, both of whom share a vested interest in bolstering technologies that enhance national security and commercial growth.

The Impact of Series B Funding

This latest influx of capital is poised to significantly expand mPower's manufacturing capabilities and accelerate their production of the groundbreaking DragonSCALES™ technology. As an unmatched and proven solar provider for the space sector, mPower's ambition is to maintain its position as a leader in this rapidly evolving market. This funding serves as a milestone, building on their previous Series A financing which followed their separation from Sandia National Laboratories—a move that has already proven beneficial for their operational growth.

Kevin Hell, the president and CEO of mPower Technology, emphasized the significance of this investment by stating, "mPower has emerged as the only solar provider in the space market with a flight-proven design that meets the rigorous cost and production demands required for expansive Space 2.0 missions."

Confidence from Investors and Clients

The trust expressed by Razor's Edge, as Mark Spoto, managing partner, put it succinctly, underlines the growing reliance on space capabilities as vital for economic progress and national security. They see mPower's innovations not merely as products but as essential enablers of future space missions. "Nothing happens in space without power. It is a critical enabler," Spoto noted, reiterating the value of mPower’s work in delivering solar power solutions that are already operational in orbit.

The company is on the brink of transformative growth, with a robust pipeline of new business opportunities. With a decade-plus experience in providing reliable power solutions in space, mPower Technology is now recognized as a leader among suppliers in this competitive field.

Leading industry names like Airbus, Blue Origin/Honeybee, Firefly Aerospace, and Lynk Global have chosen mPower as their solar provider, reflecting the company's impressive track record and innovative capacity. This client roster supports mPower's ambitions to not only scale operations but also to cater effectively to a burgeoning market of space missions.

High-Volume Manufacturing Innovations

To facilitate the increasing demand for their solar modules, mPower will leverage its first automated high-volume manufacturing line located at Universal Instruments Corporation in Conklin, New York. This line is expected to markedly improve production throughput, with an annual output of more than 2 megawatts of DragonSCALES modules. This volume surpasses all existing methodologies for traditional gallium arsenide solar modules, confirming mPower Technology's position as a pioneer in the solar space market.

Operations are set to commence within the next month and will be tasked with producing solar modules for a multitude of spacecraft, including a notable contract to provide over 1.1 megawatts of solar modules for Airbus’ MDA AURORA™ program—markedly one of the most substantial space solar contracts on record.

Revolutionary Solar Technology

mPower Technology's approach revolves around their innovative DragonSCALES™ technology. This flexible, interconnected mesh composed of miniature solar cells changes the traditional paradigms of solar solutions. By utilizing familiar and cost-effective materials and processes from silicon photovoltaic and microelectronics sectors, mPower is now able to offer adaptable, resilient, and lightweight solar power options. This advancement effectively lowers deployment costs, catering to the evolving needs of the aerospace industry.

Continued Outreach and Evolution

To keep abreast of future developments, follow mPower Technology on platforms such as LinkedIn, X, and Facebook, or visit their official website at mpowertech.com. With a dedicated focus on transforming solar energy in the space market, this funding episode marks just another milestone in mPower's ascent to changing how we harness power for space exploration.

In conclusion, the confidence shown by both investors and clients in mPower Technology not only places them at the forefront of solar power for space but also highlights the critical role that innovative technologies will play in the continued exploration and commercialization of outer space. Their ongoing commitment to quality, efficiency, and sustainability will undoubtedly propel them into a leading role as the space industry continues to thrive.