Solestial, a Menlo Park, CA-based solar energy company for space, raised $10M in Seed Funding.
The round was led by Airbus Ventures, with participation from AEI HorizonX, GPVC, Stellar Ventures, Industrious Ventures.
The company intends to use the funds to ramp up production and customer engagement capabilities, expand ground and flight testing in parallel, and extend R&D and go-to-market functions.
Led by CEO Stanislau Herasimenka, Solestial is a solar energy company for space. Its core technology is a silicon solar cell that can self-cure radiation damage at normal operating temperatures in space, packaged in a panel designed to achieve minimum degradation for up to 10 years in LEO. Its panels can be mass-produced using automated machines resulting in lower costs than incumbent technologies, with virtually unlimited manufacturing capacity. The company’s silicon solar cells are ultrathin and lightweight, self-curing radiation damage at normal operating temperatures of 80ºC or below, without additional hardware requirements. This self-curing capability allows Solestial cells to achieve minimum degradation over decades of life in space.
FinSMEs
12/10/2022