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Rocket Lab (New Mexico)
Key Facts
Rocket Lab is the parent company of SolAero Technologies Group
On June 11, 2024, the Biden-Harris Administration announced that the Department of Commerce and Rocket Lab, the parent company of space power provider SolAero Technologies Corp., have signed a non-binding preliminary memorandum of terms (PMT) to provide up to $23.9M in direct funding under the CHIPS and Science Act.
- The proposed CHIPS investment would help create a more robust and resilient supply of space-grade solar cells that power spacecrafts and satellites. The modernization and expansion project would increase Rocket Lab’s compound semiconductor production by 50% within the next three years – helping to meet the growing national security and commercial demand for these solar cells in the United States.
- Rocket Lab is one of two companies in the United States that specialize in the production of highly efficient and radiation resistant compound semiconductors called space-grade solar cells – devices used in space to convert light to electricity.
- The proposed investment would create over 100 direct manufacturing jobs.
Read the full CHIPS for America press release by clicking here.