Goleta, CA – According to filings with the U.S. Securities and Exchange Commission, Launchpoint Electric Propulsion Solutions is raising $2,075,000.00 in new funding. Sources indicate as part of senior management Chief Executive Officer, Mike Ricci played a key role in securing the recent investment and it will aid in aggressively expanding the company, as well as broaden and accelerate product development.

About Launchpoint Electric Propulsion Solutions

LaunchPoint Technologies is a Government and Defense Solutions Group specializing in advanced hybrid electric power and propulsion systems for UAVs and other unmanned systems. LaunchPoint’s hybrid electric UAV systems increase flight duration by 300% to 500% compared to battery only UAV systems. LaunchPoint’s business model stems from four main areas: consulting fees for contract work from companies needing to solve an engineering challenge; grant proposals that fund internal technology development; equity in exchange for engineering work on promising technologies where LaunchPoint’s experience can minimize the risk; and royalties and license fees paid for the sale of intellectual property.

To learn more about Launchpoint Electric Propulsion Solutions, visit http://www.launchpnt.com/

Contact:
Mike Ricci, Chief Executive Officer
805-683-9659
mricci@launchpnt.com

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