TLDR:
- Helicity Space, a Pasadena-based commercial space technology company, secures a strategic investment from Lockheed Martin Ventures for its fusion propulsion technology.
- The investment will help advance space transportation technology and support future deep space missions.
Helicity Space, a Pasadena-based commercial space technology company, recently announced a strategic investment from Lockheed Martin Ventures, a venture capital arm of Lockheed Martin Corp. The investment amount remains undisclosed, but it follows a $5 million seed round from prominent investors in December. The company, focused on fusion propulsion, sees this investment as a pivotal moment in revolutionizing space transportation.
The investment from Lockheed Martin Ventures is seen as a testament to the progress Helicity Space is making in the laboratory. The company’s chief operations officer, Marta Calvo, highlighted the importance of nuclear fusion propulsion technology for the future of space exploration and commerce. In addition to financial backing, Helicity Space will collaborate with Lockheed Martin researchers and engineers to advance space transportation technology.
Lockheed Martin Ventures’ vice president and general manager, Chris Moran, emphasized the need for new propulsion methods for deep space missions. He sees potential in Helicity Space’s fusion space propulsion and power technology to support future missions beyond Mars. The company’s fusion propulsion engine produces 10 million times more energy per unit mass of fuel compared to chemical rockets, leading to less fuel consumption and higher speeds.
Helicity Space’s Helicity Drive, designed for propulsive plasma exhaust, is scalable, high-powered, clean, agile, compact, and reusable – making it suitable for various space missions. With support from a team of strategic advisors, including former NASA officials, the company continues to improve on its fusion propulsion technology to advance space exploration and transportation.
