New $100m Investment in Space-Grade Solar Cell Production

Rocket Lab, a prominent player in the space industry, has recently inked a significant deal worth $46 million in national and local government funding. This funding is aimed at bolstering the production of space-grade solar cells, a crucial component for various space missions and satellite operations.

The memorandum of terms signed with the Department of Commerce outlines the provision of up to $23.9 million in direct funding under the CHIPS and Science Act. This investment is intended to support a substantial $100 million expansion and modernization of Rocket Lab's facility in Albuquerque, New Mexico, specifically for the production of advanced solar cells.

Following its acquisition of SolAero Technologies Inc in 2022, Rocket Lab has solidified its position as one of the few companies in the United States specializing in the manufacturing of highly efficient and radiation-resistant compound semiconductors for space-grade solar cells. These cells are already powering critical missions such as the James Webb Space Telescope, NASA's Artemis lunar explorations, and commercial satellite projects like the OneWeb broadband internet constellation.

The proposed investment under the US CHIPS Act is expected to enhance the supply chain for solar cells, leading to a 50% increase in production capacity over the next three years. This boost in production will not only cater to the growing demand for space-grade components but also contribute to the resilience of the nation's space infrastructure.

In addition to the government funding, the State of New Mexico has pledged financial assistance and incentives totaling $25.5 million to support Rocket Lab's expansion efforts. This collaborative effort between the public and private sectors underscores the importance of domestic semiconductor production for national security and technological advancement.