TEMPE, AZ, Solestial, the solar energy company for space, has announced a significant milestone with the closing of its $17 million Series A funding round led by AE Ventures.
The round welcomed new investors Crosscut Ventures, Zeon Ventures, and Mitsubishi Electric Corporation's ME Innovation Fund (general partner: Global Brain Corporation), with participation from existing investors Airbus Ventures, General Purpose Venture Capital, Industrious Ventures, Stellar Ventures, and Techstars.
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.
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