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mPower Technology Secures $21 Million to Boost Solar Module Production
TAMPA, Fla. — mPower Technology, a New Mexico-based company, announced on May 8 that it has garnered approximately $21 million in a Series B funding round. This investment aims to significantly scale up the manufacturing of its silicon-based solar power modules. The company’s DragonSCALES technology is gaining traction in the burgeoning LEO satellite market.
Current and Future Deployments
- Currently, six satellites are utilizing mPower’s interconnected photovoltaic cells in orbit.
- According to CEO Kevin Hell, the company has contracts for hundreds more, scheduled for launch in the coming years.
Key Contracts and Technology
A major client is Airbus, which intends to employ mPower’s DragonSCALES technology to power upwards of 200 low Earth orbit (LEO) satellites being constructed by prime contractor MDA for Telesat of Canada. The Airbus agreement alone signifies over 1.1 megawatts of solar power demand.
DragonSCALES Module Advantages
- DragonSCALES modules leverage readily available commercial, off-the-shelf silicon-based tools and processes.
- mPower asserts this approach allows for greater customization and reduces production costs compared to conventional cells manufactured using gallium arsenide semiconductor material.
Ramping Up Production
High-volume production is scheduled to commence next month at Universal Instruments’ facilities located in Conklin, New York. The contract manufacturer is currently upgrading these facilities to enhance automation capabilities.
- This new production line is anticipated to increase both throughput and capacity approximately tenfold.
- This will enable the production of more than 2 megawatts of modules annually.
- CEO Hell noted that this surpasses the total combined global output of gallium arsenide solar module suppliers.
“DragonSCALES is already flight-proven, so volume is the last hurdle,” he stated. “This Series B funding removes that hurdle.”
Investor Confidence
Razor’s Edge Ventures spearheaded the funding round, with additional investment from Shield Capital. Both firms are known for their investments in technologies focused on national security.
- Mark Spoto, managing partner at Razor’s Edge, emphasized the historical significance of space capabilities as an economic driver and national security enhancer.
- Spoto added, “The entire space ecosystem is on the cusp of transformational growth, and nothing happens in space without power. It is a critical enabler.”
Total Funding and Future Prospects
With this most recent infusion of capital, mPower has amassed over $40 million in total funding since its inception a decade ago, after spinning out from Sandia National Laboratories, a U.S. Department of Energy government lab operated by Honeywell International.
Hell revealed that mPower has active sales engagements exceeding half a billion dollars for LEO constellations and other large-scale ventures, encompassing space habitats and lunar missions.
Additional customers include Lynk Global, Blue Origin, and Firefly Aerospace.