A byproduct of the Massachusetts Institute of Technology (MIT), Accion Systems aims to redefine in-space propulsion systems. The company's TILE (Tiled Ionic Liquid Electrospray) propulsion system is designed to increase the lifespan and maneuverability of satellites and other vehicles in space
FREMONT, CA: In- space propulsion system startup, Accion Systems raised USD 11 million in a Series B funding round, co-led by Boeing HorizonX Ventures and Shasta Ventures. The Series B funding takes the company's total raised capital to USD 36 million, which includes USD 14 million in the U.S. Department of Defense and NASA contracts. The newly built capital will be used to ramp up production of Accion’s next-generation product and to expand the hiring process.
“At the size of a postage stamp, our propulsion system is re-writing the rules of smallsat navigation and maneuverability,” according to Natalya Bailey, CEO of Accion Systems. “We’re excited to ramp up production and offer our clients benefits such as extending mission lifetime, station-keeping, and de-orbiting capabilities.”
A byproduct of the Massachusetts Institute of Technology (MIT), Accion aims to redefine in-space propulsion systems. The company's TILE (Tiled Ionic Liquid Electrospray) propulsion system is designed to increase the lifespan and maneuverability of satellites and other vehicles in space. By leveraging a non-toxic, ionic liquid propellant and postage stamp-size thrusters, the TILE system is smaller, lighter, and more cost-effective than traditional ion engines.
Co-leaders Boeing HorizonX Ventures is an innovation and venture organization with Boeing, which is aimed at discovering, shaping, and accelerating the next generation of game-changing ideas, products, and markets through venture investments, partnerships and trend discovery. “Accion’s propulsion system brings new capabilities to satellites, space vehicles, and ultimately, our customers," said Brian Schettler, senior managing director of Boeing HorizonX Ventures. “Our support of Accion supports Boeing’s leadership in adopting next-generation technologies to advance satellite capabilities.”
Shasta Ventures led Accion's Series A round, and Rob Coneybeer is on the Accion Board of Directors. “Only sixty satellites were launched during the first nine years of space exploration, but now there are that many smallsats launched in a single mission,” said Rob Coneybeer, managing director at Shasta Ventures. “A new approach to in-space propulsion and smallsat mobility is in order, and I believe Accion has the solution.”
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