HOUGHTON, Mich., Aug. 30, 2019 – Orbion Space Technology, developer of next-generation smallsat propulsion systems, today announced it has raised $9.2M in Series A funding led by Material Impact, a venture capital firm focused on translating early stage, innovative materials technologies into products and companies that solve real-world problems.
The financing comes at a crucial moment for Orbion and the space market-just last year, the company announced plans to manufacture and mass-produce the first-ever Hall-effect plasma thrusters for small satellites, dubbed the Orbion Aurora system.
“We at Material Impact are proud to be part of the Orbion team. We believe Orbion’s thruster technology will propel small satellites into a booming market driven by applications ranging from high-speed mobile communications to high-resolution imaging,” said Adam Sharkawy, Co-Founder and Managing Partner of Material Impact.
Dr. Brad King, CEO of Orbion Space Technology, said: “We’re honored to have the financial support and expertise of such key investors as Material Impact to power our progress. It’s an exciting milestone in our mission to bring modern mass-manufacturing to space technology and help New Space operators unlock their full potential.”
About Orbion Space Technology: Orbion Space Technology develops revolutionary propulsion systems that allow small satellites to achieve more in space environments, including the first-ever Hall-effect plasma thruster designed expressly for mass production.