Lockheed Martin Ventures Backs Helicity Space for Fusion Propulsion Advancements

Written by Copernical Team Wednesday, 03 April 2024 13:53

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Los Angeles CA (SPX) Apr 03, 2024

Helicity Space, a trailblazer in fusion power for in-space propulsion and power technology, has garnered investment from Lockheed Martin Ventures, signaling a significant endorsement from the aerospace titan's venture capital wing. Following a $5 million seed investment round in December, featuring contributions from Airbus Ventures, TRE Ventures, Voyager Space Holdings, E2MC Space, Urania

Lockheed Martin Ventures Backs Helicity Space for Fusion Propulsion Advancements
by Clarence Oxford
Los Angeles CA (SPX) Apr 03, 2024

Helicity Space, a trailblazer in fusion power for in-space propulsion and power technology, has garnered investment from Lockheed Martin Ventures, signaling a significant endorsement from the aerospace titan's venture capital wing.

Following a $5 million seed investment round in December, featuring contributions from Airbus Ventures, TRE Ventures, Voyager Space Holdings, E2MC Space, Urania Ventures, and Gaingels, this latest funding propels Helicity Space into a new phase of development and collaboration.

Dr. Setthivoine You, Helicity Space's co-founder and chief scientist, highlighted the investment as a critical milestone, underscoring the ongoing advancements in the lab that caught Lockheed Martin Ventures' attention. The partnership not only injects vital funds into Helicity Space but also opens doors to collaborate with Lockheed Martin's top-tier researchers and engineers, a boon for the burgeoning era of space transportation.

Chris Moran, Lockheed Martin Ventures' vice president and general manager, pointed to Helicity Space's innovative fusion propulsion and power technology as a strategic asset, and key for deep space missions and enhancing mission success for their clients.

Helicity Space stands on the brink of transforming the space sector with its fusion propulsion technology, a dream buoyed by over two decades of rigorous scientific pursuit. The technology leverages sophisticated concepts like plectonemic plasma jets, magnetic reconnection, and peristaltic magnetic compression to push the boundaries of energy density and efficiency.

Marta Calvo, co-founder and COO of Helicity Space, emphasized the broader implications of each investment, projecting a future where nuclear fusion propulsion opens the solar system to unprecedented scientific exploration, commercial opportunities, and national security enhancements.

The company also draws upon the wisdom of an esteemed advisory board, including space industry luminaries such as former NASA astronaut William Readdy, Dr. Alan Stern of the New Horizons mission, and Dr. Simon "Pete" Worden from NASA Ames' Research Center. This confluence of expertise and innovation sets Helicity Space on a trajectory to redefine space travel and access.

Strategic advisor Storm Boswick expressed optimism about the industry's growing receptivity to Helicity Space's vision, foreseeing a future where space becomes more accessible through revolutionary propulsion technology.