Rocket Lab USA [RKLB] this week said it has completed its $80 million cash acquisition of SolAero Holdings in a deal that adds scalable solar space power products to its portfolio, fitting with its strategy to be a vertically integrated provider of space solutions.
Rocket Lab, which is based in California, said SolAero gives it the world’s largest production lines for space-grade solar cells, which are used in civil, science, defense, intelligence and commercial markets. As part of Rocket Lab, the company said SolAero will gain resources to scale production.
“SolAero has established itself as a premier provider of solar technologies and we are very excited to be joining forces,” Peter Beck, Rocket Lab founder and CEO, said in a statement. “SolAero is a highly complementary addition to Rocket Lab’s vertically integrated business model, enabling us to deliver complete space mission solutions for our customers. With more than 1,000 successful missions under their belt, the team at SolAero have enabled trailblazing missions, providing space solar power solutions for the James Webb Space Telescope, and missions on Mars including InSight and Ingenuity.”
SolAero, which is based in New Mexico, has 425 employees, bringing Rocket Lab’s head count to more than 1,100. SolAero will continue to be led by Brad Clevenger, the company’s president and CEO.
Rocket Lab manufactures the Electron small orbital launch vehicle, which has delivered 109 satellites into orbit for commercial and government customers, and is developing the Neutron 8-ton payload class launch vehicle. The company also provides the Photon small spacecraft, and offers satellite components, satellite radios, separation systems and software, and has three launch pads at two sites.