Solar Panel Start-Up mPower Technology Secures $21M Series B Funding for Mass Production
Space solar power startup mPower Technology has successfully closed a $21 million Series B funding round to advance the production of its mini solar cells. The round was led by Razor’s Edge Ventures, with Shield Capital also participating. The funding will enable mPower to expand its automated manufacturing capabilities for its flexible solar array technology and to mass-produce its silicon-based solar power modules, as well as increase its workforce, stated CEO Kevin Hell. “Volume is the last hurdle,” he added. “This Series B funding removes that hurdle.” Mark Spoto, managing partner of Razor’s Edge, remarked, “The entire space ecosystem is on the verge of transformational growth, and nothing in space happens without power. It is a crucial enabler. Our confidence in mPower stems from tangible evidence: Its solar solutions are currently operational in orbit and providing value.”
Established in Albuquerque, New Mexico, the company was spun out of Sandia National Laboratories, a government lab run by Honeywell International, in 2015. mPower has raised $40 million in funding to date, including a $2.5 million Series A round in 2019, led by Cottonwood Technology.
mPower’s flagship product, DragonSCALES, is a flexible, lightweight mesh composed of miniature solar cells. According to mPower’s website, this material can supply energy to various applications ranging from LEO constellations and space logistics flights to lunar and Martian missions. mPower’s pioneering solar-cell technology has been tested and proven in the harshest environments, using infrastructure economically engineered for unparalleled customization, resilience, and scale. DragonSCALES modules use commercial off-the-shelf silicon-based tools and processes, which makes them more customizable and less expensive to produce than traditional cells built with gallium arsenide semiconductor material. High-volume production will start next month at Universal Instruments’ Conklin, New York facilities, which are being upgraded for automation. The new line will boost throughput and capacity by tenfold, allowing over two megawatts of modules to be produced annually, surpassing the global output of gallium arsenide solar module suppliers. DragonSCALES was first deployed aboard a Lynk Global direct-to-device satellite in 2021.
This year, mPower will commence deliveries of DragonSCALES to provide solar power for over 200 Airbus low Earth orbit (LEO) satellites, which prime contractor MDA is building for Canada’s Telesat. The Airbus contract alone accounts for more than 1.1 megawatts of solar power. While the contract value remains undisclosed, Hell noted substantial opportunities in LEO and anticipates increased demand driven by the Trump administration's emphasis on lunar and Martian exploration. “Our silicon technology performs efficiently in cold environments, and our resilient and flexible DragonSCALES architecture is particularly suited for various lunar applications,” he commented. Additional customers include Blue Origin/Honeybee, Firefly Aerospace, and Gravitics. According to Hell, six satellites are presently utilizing mPower’s interconnected photovoltaic cells in orbit, while hundreds more have been contracted and are scheduled to launch in the coming years. The mPower CEO further asserts the company has over half a billion dollars’ worth of active sales engagements for LEO constellations and other large-scale projects, including space habitats and lunar missions.