Solestial Announces $17M Series A Funding Round to Scale Space Solar Manufacturing
Solestial has secured a $17 million Series A funding round led by AE Ventures, with participation from new investors Crosscut Ventures, Zeon Ventures, and Mitsubishi Electric Corporation's ME Innovation Fund, alongside existing investors. The company also announced the appointment of Margo de Naray as CEO, while founding CEO Stanislau Herasimenka transitions to CTO.
The funding will support scaling manufacturing capacity of silicon photovoltaics to 1 megawatt per year, matching the combined annual capacity of all US and EU III-V space solar companies. Solestial, the only space solar manufacturer with demonstrated self-healing radiation damage capability, has expanded its Tempe, Arizona facility since 2023, doubled its workforce, and delivered products to dozens of companies.
Solestial ha ottenuto un finanziamento di Serie A da 17 milioni di dollari guidato da AE Ventures, con la partecipazione di nuovi investitori come Crosscut Ventures, Zeon Ventures e il ME Innovation Fund di Mitsubishi Electric Corporation, insieme agli investitori già presenti. L'azienda ha inoltre annunciato la nomina di Margo de Naray come CEO, mentre il CEO fondatore Stanislau Herasimenka passerà al ruolo di CTO.
Il finanziamento servirà ad aumentare la capacità produttiva di pannelli fotovoltaici in silicio fino a 1 megawatt all'anno, pari alla capacità annua combinata di tutte le aziende spaziali III-V degli Stati Uniti e dell'UE. Solestial, l'unico produttore di pannelli solari spaziali con capacità dimostrata di auto-riparazione dai danni da radiazioni, ha ampliato la sua struttura a Tempe, Arizona, dal 2023, raddoppiato il personale e fornito prodotti a decine di aziende.
Solestial ha asegurado una ronda de financiación Serie A de 17 millones de dólares liderada por AE Ventures, con la participación de nuevos inversores como Crosscut Ventures, Zeon Ventures y el ME Innovation Fund de Mitsubishi Electric Corporation, junto con inversores existentes. La compañía también anunció el nombramiento de Margo de Naray como CEO, mientras que el CEO fundador Stanislau Herasimenka pasa a ser CTO.
La financiación apoyará la ampliación de la capacidad de fabricación de paneles fotovoltaicos de silicio a 1 megavatio por año, igualando la capacidad anual combinada de todas las empresas espaciales III-V de EE. UU. y la UE. Solestial, el único fabricante de paneles solares espaciales con capacidad demostrada de auto-reparación ante daños por radiación, ha ampliado sus instalaciones en Tempe, Arizona, desde 2023, ha duplicado su plantilla y ha entregado productos a decenas de empresas.
Solestial은 AE Ventures가 주도하고 Crosscut Ventures, Zeon Ventures, Mitsubishi Electric Corporation의 ME Innovation Fund를 비롯한 신규 투자자들과 기존 투자자들이 참여한 1,700만 달러 규모의 시리즈 A 투자 라운드를 성공적으로 마무리했습니다. 회사는 또한 Margo de Naray를 CEO로 임명했으며, 창립 CEO인 Stanislau Herasimenka는 CTO로 전환합니다.
이번 자금은 실리콘 태양광 제조 능력을 연간 1메가와트로 확장하는 데 사용될 예정이며, 이는 미국과 EU의 모든 III-V 우주 태양광 기업의 연간 총 생산 능력과 맞먹는 규모입니다. 방사선 손상 자가 치유 기능을 입증한 유일한 우주 태양광 제조업체인 Solestial은 2023년 이후 애리조나주 템피에 있는 시설을 확장하고 인력을 두 배로 늘렸으며 수십 개 기업에 제품을 공급했습니다.
Solestial a obtenu un financement de série A de 17 millions de dollars mené par AE Ventures, avec la participation de nouveaux investisseurs tels que Crosscut Ventures, Zeon Ventures et le ME Innovation Fund de Mitsubishi Electric Corporation, ainsi que des investisseurs existants. La société a également annoncé la nomination de Margo de Naray en tant que CEO, tandis que le CEO fondateur Stanislau Herasimenka passe au poste de CTO.
Ce financement permettra d'augmenter la capacité de fabrication de photovoltaïques en silicium à 1 mégawatt par an, soit l'équivalent de la capacité annuelle combinée de toutes les entreprises spatiales III-V des États-Unis et de l'UE. Solestial, le seul fabricant de panneaux solaires spatiaux doté d'une capacité démontrée d'auto-réparation des dommages causés par les radiations, a agrandi son site de Tempe, en Arizona, depuis 2023, doublé ses effectifs et livré ses produits à des dizaines d'entreprises.
Solestial hat eine Serie-A-Finanzierungsrunde in Höhe von 17 Millionen US-Dollar abgeschlossen, die von AE Ventures angeführt wird, mit Beteiligung neuer Investoren wie Crosscut Ventures, Zeon Ventures und dem ME Innovation Fund der Mitsubishi Electric Corporation sowie bestehender Investoren. Das Unternehmen kündigte außerdem die Ernennung von Margo de Naray als CEO an, während der Gründer-CEO Stanislau Herasimenka zum CTO wechselt.
Die Finanzierung soll die Produktionskapazität für Silizium-Photovoltaik auf 1 Megawatt pro Jahr ausweiten, was der kombinierten Jahreskapazität aller US-amerikanischen und EU-III-V-Weltraum-Solarunternehmen entspricht. Solestial, der einzige Hersteller von Weltraum-Solarzellen mit nachgewiesener selbstheilender Strahlenschadensfähigkeit, hat seine Anlage in Tempe, Arizona, seit 2023 erweitert, die Belegschaft verdoppelt und Produkte an Dutzende von Unternehmen geliefert.
- Secured $17M Series A funding from prominent investors
- Scaling manufacturing capacity to 1 megawatt per year
- Unique self-healing radiation damage technology
- Strong customer demand with deliveries to dozens of companies
- Strategic leadership addition with experienced CEO appointment
- Manufacturing facility expansion and workforce doubling
- None.
Series A funding led by AE Ventures; Margo de Naray joins Solestial as CEO
The Series A funding enables Solestial to continue scaling its manufacturing capacity of silicon photovoltaics to 1 megawatt per year, a rate comparable to the estimated annual manufacturing capacity of all US and EU III-V space solar companies combined.
Alongside the raise, Solestial also announced the appointment of Margo de Naray as Chief Executive Officer. De Naray, formerly Senior VP & GM of Space Products and Services at Astra, brings 20 years of extensive commercial and operations management experience in growth and high-tech environments. Founding CEO, Stanislau Herasimenka, will assume the role of Chief Technology Officer to focus on advancing the company's product roadmap and rapidly scaling operations technology.
"We are thrilled to welcome Margo to lead Solestial into its next chapter," said Herasimenka. "This transition allows me to continue developing our cutting-edge technology, while Margo brings additional strategic leadership and operational experience to deliver at scale."
De Naray joins Solestial amid strong momentum. "We're seeing tremendous market demand, and we are focused on delivering high-quality products," she said. "We're hiring, scaling production, and qualifying our technology, which is already deployed on multiple missions in space."
"Space solar is a critical bottleneck in a rapidly growing industry with an ever-expanding set of missions—from national security to lunar exploration," said Beckett Jackson, Partner at AE Ventures. "Solestial is uniquely positioned to serve spacecraft manufacturers with mass production of a lightweight, radiation-hardened solution at lower cost and a fraction of the lead time of the current standard."
The only space solar manufacturer with demonstrated ability to self-heal radiation damage, Solestial offers spacecraft manufacturers the ability to significantly reduce cost and weight without sacrificing energy needs or performance.
"Solestial continues to revolutionize low-cost, lightweight solar power for space. Stan's continued focus on the technical breadth of Solestial products and Margo's new addition as a leader of the team are the ingredients to unlock the next phases growth and success," said Mat Costes, Partner at Airbus Ventures. "We are also thrilled to welcome new investors and see investors from the seed round returning, collectively signifying what we all know—the market applications for this technology are robust, fast accelerating, and Solestial is ready to meet market demand."
"Our colleagues at Mitsubishi Electric Corporation have been working with Solestial for a number of years to evaluate the potential of Solestial's technologies," said Komi Matsubara, Executive Officer (Associate), Vice President, Business Innovation at Mitsubishi Electric Corporation. "We see tremendous potential in Solestial's technology and are pleased to deepen the relationship and support their development."
With strong customer demand, Solestial has prioritized scaling production. Since opening its
About Solestial
Solestial exists to deliver abundant energy in space. The company's breakthrough technology is a silicon solar cell engineered for space to self-cure radiation damage under sunlight at operating temperatures as low as 65°C. Solestial solar cells are packaged in an ultrathin, low-mass, flexible solar power module designed to withstand up to 10 years in a variety of destinations in space. The flexible solar power modules can be produced on automated machines resulting in costs lower than traditional III-V multijunction solar products.
From today's satellite constellations and research projects to tomorrow's lunar settlements and services in space, Solestial's innovative technology represents a paradigm shift for space solar; an affordable, scalable solution to power sustained development. Solestial is a US company manufacturing solar cells and flexible solar power modules in
About AE Ventures
AE Ventures is the venture capital platform of AE Industrial Partners, a private investment firm with
About Airbus Ventures
Airbus Ventures operates in service of deeptech entrepreneurs who are inspired to design, build, and service complex engineering products capable of unlocking entirely new economies.
About Mitsubishi Electric Corporation
With more than 100 years of experience in providing reliable, high-quality products, Mitsubishi Electric Corporation (
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SOURCE Solestial, Inc.
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