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Rocket Lab to Receive $23.9M for Boosting Space Technology Semiconductors

Jun 11, 2024 1 min read

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The U.S. Commerce Department plans to award Rocket Lab $23.9 million to enhance its production of compound semiconductors used in satellites and spacecraft. The funds are part of the Biden administration's $52.7 billion chip manufacturing and research subsidy program. This investment aims to bolster the supply of space-grade solar cells, which are critical for various space missions including missile awareness systems, the James Webb Space Telescope, NASA’s Artemis lunar explorations, and the Mars Insight Lander.

Rocket Lab, which acquired SolAero Technologies Corp in 2022, expects to increase its compound semiconductor production by 50% within the next three years. The expansion is anticipated to create over 100 manufacturing jobs and increase the company’s manufacturing capacity. In addition to the federal funding, the state of New Mexico has committed to providing financial assistance and incentives worth $25.5 million to support Rocket Lab's facility expansion in Albuquerque. Rocket Lab, founded in 2006 by New Zealander Peter Beck, has secured numerous federal contracts for satellite production and spacecraft launches.

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