Orbit Fab, an organization that desires to construct a community of refueling stations in orbit, closed a $28.5 million Series A to launch extra gas supply and infrastructure missions.
The Colorado-based startup has developed a refueling port referred to as the Rapidly Attachable Fluid Transfer Interface (RAFTI), which will be built-in onto satellites and orbital servicing autos. Orbit Fab desires to launch on-orbit gas tankers (which the corporate typically analogizes to fuel stations) that may dock with any spacecraft outfitted with a RAFTI interface.
Without a approach to refuel satellites in area, any given spacecraft’s helpful life is restricted by how a lot gas its carrying at launch. This could make a satellite tv for pc heavier and costlier, and every maneuver expensive. Orbit Fab says refueling may allow extra intensive satellite tv for pc servicing missions, rendezvous and proximity operations, in-space meeting, and different spacecraft maneuvers that might demand longer lifespans, whereas driving the general value of working a satellite tv for pc down.
Last August, Orbit Fab stated it might ship as much as 100 kilograms of hydrazine to satellites in GEO for $20 million, beginning in 2025.
The firm already has 4 launches booked over the following three years, together with three missions for the U.S. Department of Defense. One of these missions, scheduled for early 2025, will see Orbit Fab’s RAFTI port built-in on army satellites in order that they are often refueled by on-orbit hydrazine tankers. Overall, Orbit Fab has closed over $21 million in DOD contracts.
Orbit Fab can be beginning to shut on business clients: the corporate inked an settlement with Astroscale to replenish its orbital service autos in geostationary orbit (GEO).
In addition to the Series A, which Orbit Fab stated was an up spherical, the corporate introduced that it had doubled its group to sixty folks over the previous 12 months and plans to rent at the very least one other 25 this 12 months.
The up spherical was led by 8090 Industries, with extra investments by Stride Capital, Industrious Ventures, Lockheed Martin Ventures, Tribe Capital, Good Growth Capital, and Massive Capital Partners.