Phase Four, an El Segundo, Calif.-based creator of a radio-frequency thruster for satellite propulsion, closed a $26m Series B funding round.
The round was led by New Science Ventures.
The company intends to use the funds to scale production of its Maxwell engine and accelerate development of higher performance Maxwell engines.
Led by CEO Beau Jarvism Phase Four is a provider of next generation electric propulsion (EP) solutions for small satellites. So far in 2021, the Maxwell plasma propulsion engine has been launched aboard multiple commercial small satellites with still more launching throughout the remainder of 2021 and beyond. The company has also secured multiple government contracts including a contract with the U.S. Air Force to adapt the Maxwell engine to utilize iodine, a new alternative fuel, to replace legacy electric propulsion propellants in high-performance commercial and defense applications.