The US Department of Commerce has confirmed that it has signed a non-binding preliminary memorandum of terms (PMT) with Rocket Lab, the parent company of space power provider SolAero Technologies Corp., up to US$23.9 million in direct funding under the CHIPS and Science Act.
The funding will be used to ‘help create a more robust and resilient supply of space-grade solar cells that power spacecraft and satellites’.
This would reportedly increase Rocket Lab’s compound semiconductor production by 50% within the next three years – which it hopes would to meet the growing national security and commercial demand for these solar cells in the US.
It would also create over 100 direct manufacturing jobs, according to the US Department of Commerce.
US Secretary of Commerce Gina Raimondo commented: “Solar cells are important for keeping our communication and space technology powered and operational, and this proposed award would help our military, NASA and our commercial space industry have access to the specialty semiconductors they need to keep our country safe and continue to lead in scientific discoveries and space commerce.
“Thanks to president Biden’s leadership and this proposed CHIPS investment, the United States is meeting the growing demand for these semiconductors while helping to diversify America’s chip manufacturing capabilities and creating new, quality jobs for workers in New Mexico.”
These space-grade solar cells are ‘highly efficient and radiation-resistant compound semiconductors’ which are used in space to convert light into electricity. Those produced by Rocket Lab have been used on projects such as the James Webb Space Telescope, the Ingenuity Mars Helicopter and the Mars Insight Lander.
Rocket Lab’s founder and CEO, Peter Beck, said: “Semiconductors are central to modern life, to our economy and to America’s future. We are proud to be strengthening that future with the support of the CHIPS Office by expanding our production facilities to meet growing demand for the semiconductors that power the nation’s most critical science, defence and commercial space missions.
“For more than two decades our team has played an important role in the domestic production of semiconductors. This programme is a continuation of our commitment to ensuring resilient US supply chains and creating highly productive local jobs.”
Following the signing of the PMT, the project will now be subject to a ‘comprehensive due diligence process’ while the details of the terms of the agreement are refined.
Following the undeniable success of IntraLogisteX 2024 in the UK, the exhibition is heading across the Atlantic later in the year, with IntraLogisteX USA taking place on 22-23 October 2024 at Miami Beach Convention Centre.
Click here for more details and to register!
Plus, the Supply Chain Excellence Awards are also heading stateside as Miami welcomes the very first Supply Chain Excellence Awards USA on 21 October 2024.
For more information about the awards, categories and how to enter, click here!
