Series B expansion will fuel growth of leading space solar tech with proven on-orbit performance

ALBUQUERQUE, N.M., Aug. 26, 2025 /PRNewswire/ --  mPower Technology, Inc., the leader in flexible solar power for space, today announced a strategic investment from Lockheed Martin Ventures, the venture arm of Lockheed Martin Corporation. The investment is an add-on to mPower's recent Series B funding round, bringing total Series B funding to over $24 million.

This capital will further accelerate mPower's ability to scale production of its DragonSCALES™ solar modules. DragonSCALES provides an industry-leading flexible, resilient, and cost-effective solution for solar power in space, enabling new design possibilities for space missions.

"We are honored to welcome Lockheed Martin Ventures as a strategic investor," said Kevin Hell, president and CEO of mPower Technology. "Lockheed Martin brings deep mission expertise and a bold vision for the future of space and national defense. Their support is a validation of our role in enabling rapid, scalable, and cost-effective solar power across the new space economy and in support of U.S. security priorities."

Lockheed Martin Ventures joins an impressive group of investors in the Series B round, including Razor's Edge Ventures and Shield Capital, both of which focus on technologies critical to national security and resilient space infrastructure.

"Space has never been more important to national security, and affordable, reliable power is a mission-critical enabler for future space operations," said Chris Moran, vice president and general manager of Lockheed Martin Ventures. "The technology in development by mPower solves some of the hard challenges in unique and innovative ways—opening new doors for spacecraft design, power production, and scalability. We're excited to support their continued growth and development as we advance U.S. leadership in space exploration."

DragonSCALES has already been selected for several prominent space programs, including by Airbus Netherlands B.V. for their Sparkwing solar arrays which will power MDA's AURORA satellites for low-earth orbit constellations like Telesat Lightspeed and the next-gen Apple-backed Globalstar constellation. Production is underway at mPower's high-volume automated line located at Universal Instruments Corporation in Conklin, New York. The facility will produce over two megawatts of DragonSCALES annually, more than the combined global output of legacy gallium arsenide (GaAs) space solar suppliers.

With over 12 years of on-orbit heritage, mPower has become a trusted solar provider to companies including Airbus, Blue Origin/Honeybee, Firefly Aerospace, Lynk Global, and Gravitics.

About mPower Technology, Inc.

mPower Technology is reshaping the future of space solar with DragonSCALES™. Designed for mass production using standard silicon PV processes, DragonSCALES delivers high-performance, scalable solar power for spacecraft of all types. Learn more at mpowertech.com or follow us on LinkedIn, X, and Facebook.

About Lockheed Martin Ventures

Lockheed Martin is a global defense technology company driving innovation and advancing scientific discovery. Our all-domain mission solutions and 21st Century Security ® vision accelerate the delivery of transformative technologies to ensure those we serve always stay ahead of ready. More information at www.Lockheedmartin.com.

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