SolAero Holdings was purchased by Rocket Lab for $80 million in order to increase the manufacture of space solar cells
- ByStartupStory | January 19, 2022
Rocket Lab is on a mission to integrate space solutions vertically. On Tuesday, the launch and space systems firm announced the completion of a $80 million cash agreement to buy SolAero Holdings, a supplier of space solar power products and precision aerospace structures.
Rocket Lab now has another significant satellite manufacturing supplier in-house after purchasing SolAero, a 24-year-old New Mexico-based firm. Having access to Rocket Lab’s capabilities will also offer SolAero the manufacturing capability it needs to boost high-volume production and scale, allowing it to better serve other clients.
According to Morgan Bailey, director of communications at Rocket Lab, the acquisition aids the company’s long-term ambition by allowing it to take a larger share of the space market.
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