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Portal Space Systems announced a $50 million Series A funding round that values the company at $250 million.
Portal Space Systems is developing solar thermal propulsion, a technology previously set aside by NASA.
KEY POINTS
- The company has raised $50 million in Series A funding, valuing it at $250 million.
- Portal has already secured $45 million in strategic funding from the U.S. military for orbital warfare applications.
- Portal's Hex thruster combines solar concentrator and nozzle, enabled by recent advances in additive manufacturing.
- Portal's technology could accelerate development of nuclear thermal propulsion by proving key components in orbit.
COMPANIES
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