The lead investor said the aerospace and energy industries are at “a new inflection point.” phoenix tempe azinno
Solestial Inc., a Tempe company that makes solar panels to be used in outer space, said that its recently closed oversubscribed $10 million seed round will allow it to ramp up production and customer engagement.
Solestial says it can build its solar panels at 10% of the cost of those widely used in the satellite industry. The technology involves ultra-thin silicon voltaic panels optimized for space with at least 10 years of low-earth-orbit reliability. The company also says its panels can self-cure radiation damage at normal operating temperatures — a key feature that keeps degradation at a minimum over decades in space, Solestial said.
Solestial said it has already signed letters of intent with companies for deals worth hundreds of millions of dollars. Solestial did not name those companies but said they include major defense contractors as well as small startups. Demand is expected to keep growing, the company said, as the satellite industry is set to grow from 5,000 operational satellites to a projected 100,000 by 2030.
“Looking ahead, Solestial is uniquely positioned to enable long-lasting, highly efficient infrastructure for Earth orbit, cislunar space, and operations on the moon itself, helping unlock the energy and resources of our whole planetary system for the benefit of life on Earth,” Herasimenka said in a statement.
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