Phase Four Series C First Closing
LOS ANGELES, Jan. 9, 2025 /PRNewswire/ — Phase Four, a leader in advanced in-space propulsion design and manufacturing, announced the first close of its Series C funding round, securing nearly 60% of the target raise with strong participation from new and existing investors. The round is led by Artemis Group Capital, the Oklahoma-based investment firm helmed by former NASA Administrator Jim Bridenstine, underscoring the growing confidence in Phase Four’s innovative propulsion solutions.
“This funding is a pivotal milestone for Phase Four as we scale to meet surging global demand for in-space propulsion from the government and private sector,” said Dr. Umair Siddiqui, Chief Technology Officer at Phase Four. “The supply chain simply isn’t keeping up. With this capital, we’re ramping up production of our Valkyrie family of Hall Effect Thrusters to a minimum of 250 units per year. Simultaneously, we’re advancing next-generation thruster technologies tailored for Defense and National Security customers.”
The growth of Phase Four’s manufacturing capabilities addresses a critical supply-demand gap in the space industry. As the market for small satellite constellations and in-space maneuverability grows exponentially, Phase Four’s propulsion capabilities position the company as a key supplier for commercial and government missions alike.
Phase Four is partnered with Redwire Space (RDW: NYSE) on the Valkyrie propulsion system, reflecting both companies’ view that the market for such thrusters will continue to be robust for the foreseeable future. Combining Phase Four’s technical prowess in the in-space propulsion market with Redwire’s global command of the space system market creates a stable and reliable domestic supplier for a range of high-quality Hall Effect Thrusters.
“We’re proud to scale another U.S. company to the rapidly expanding in-space propulsion market,” said Dr. Steve Kiser, Phase Four’s CEO. “As space-related supply chains around the world face geopolitical and economic risk, having another stable and domestic source for such a critical component of space power is vital.”
The company plans to close its Series C round by the end of Q1 2025, with proceeds aimed at expanding manufacturing, accelerating R&D efforts, and deepening strategic partnerships with key players in the space economy.
About Phase Four
Phase Four is a disruptive provider of next generation in-space electric propulsion solutions. 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. Phase Four is now a full-spectrum in-space electric propulsion provider of hardware, software and services, teaming with a variety of constellation operators and satellite bus manufacturers to optimize mission effectiveness and control costs through creative exploration of propulsion solutions. Learn more at www.phasefour.io.
About Artemis Group Capital
Artemis Group Capital is an investment firm specializing in space and defense companies. Led by former NASA Administrator and U.S. Congressman Jim Bridenstine, the firm is focused on advancing national security objectives and supporting transformative technologies for the next generation space economy.
SOURCE Phase Four, Inc.