EL SEGUNDO, Calif.,
June 11, 2021 /PRNewswire/
-- Phase Four, the creator of the radio-frequency thruster for
satellite propulsion, announced today that it has closed a Series B
investment round of $26
million. The round was led by New Science Ventures LLC
("NSV"), a leading venture capital firm focused on building
companies that leverage breakthrough science to create
extraordinary value.
Phase Four to scale production of its Maxwell engine and accelerate
development of higher performance Maxwell engines
The new capital follows a year of significant growth for Phase
Four. So far in 2021, Phase Four's Maxwell plasma propulsion
engine has been launched aboard multiple commercial small
satellites with still more launching throughout the remainder of
2021 and beyond. Phase Four has also secured multiple
government contracts including a contract with the U.S. Air Force
to adapt the Maxwell engine to utilize iodine, a new alternative
fuel, to replace costly, legacy electric propulsion propellants in
high-performance commercial and defense applications.
"We've seen demand for the Maxwell engine exceed our current
production capability," said Phase Four CEO, Beau Jarvis. "This capital infusion will
enable us to rapidly scale our production capacity and accelerate
our development of new Maxwell variants including the iodine-fueled
Maxwell engine."
"We're excited about our partnership with Phase Four," said NSV
Managing Partner, Somu Subramaniam.
"The global space economy has outstanding long-term growth
potential. Phase Four has the management team, core
technology set and product strategy to build a leadership position
in the in-space propulsion sector."
About Phase Four Phase Four is a disruptive provider of
next generation electric propulsion (EP) solutions for small
satellites. The company was founded in 2015 to address the demands
of the rapid proliferation of satellite constellations and to
accelerate the advancement of its radio-frequency thruster (RFT).
The Phase Four RFT represents a revolutionary new architecture that
realizes lower cost, mass-manufacturability, miniaturized power
electronics, and propellant agnosticism over incumbent
technologies, without compromising performance. In 2021 Phase
Four's Maxwell turn-key propulsion system achieved flight heritage
and is now being regularly utilized by small satellite
operators.
Learn more at www.phasefour.io.
About New Science Ventures
NSV is a leading venture capital firm focused on building companies
that leverage breakthrough science to create extraordinary value.
NSV invests in companies using fundamental, science-based
innovation and backed by strong IP protection to address large
unmet needs in the Life Sciences and Information Technology
sectors. The Firm invests in early and mid-stage companies with a
long-term view and supports them through value inflection points to
create scalable businesses and realize value. NSV was founded in
2004, has $800 million under
management and is based in New York,
NY and London, UK and
operates a Life Sciences incubator in San
Diego, CA.
For more information please visit: www.newscienceventures.com
Media
Contact:
Phase
Four
media@phasefour.io
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SOURCE Phase Four