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Helicity Space Secures Investment from Lockheed Martin Ventures

Credit: Helicity Space

Ibadan, 4 April 2024. – Helicity Space, a commercial space company developing in-space propulsion and power technology based on fusion power, has announced an investment from Lockheed Martin Ventures, the venture capital arm of Lockheed Martin. This latest raise from Lockheed Martin Ventures comes on the heels of a $5 million seed round from investors including Airbus Ventures, TRE Ventures, Voyager Space Holdings, E2MC Space, Urania Ventures and Gaingels in December.

In addition to the financial backing, the space Company will also have the opportunity to work alongside Lockheed Martin’s researchers and engineers moving forward. As a result, Helicity Space commits to revolutionizing the space industry through the development of fusion propulsion and its applications for a spacefaring civilization, ultimately benefiting society on Earth.

Furthermore, for the Company, the innovation for its in-space propulsion and power technology is the culmination of more than 20 years of research by scientists together to leverage plectonemic plasma jets for confinement, magnetic reconnection for heating, and peristaltic magnetic compression for raising energy density.

Speaking on the investment, Dr. Setthivoine You, co-founder and chief scientist at Helicity Space, commented, “This investment from Lockheed Martin Ventures marks a pivotal moment for Helicity Space in our mission to revolutionize space transportation. It is a testament to the real progress we are making each day in the laboratory.”

Likewise, Chris Moran, vice president and general manager, Lockheed Martin Ventures, said, “Lockheed Martin Ventures is looking for new and transformative technologies to ensure the U.S. and its partners always maintain the strategic advantage. Helicity Space’s fusion space propulsion and power technology has the potential to support future deep space missions and support our customers’ mission success.”

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