Rocket Lab has a new ambition outside of launching satellites into orbit. And it’s scaling up the production of semiconductors for spacecraft.
What’s happening:
- Rocket Lab (NASDAQ: RKLB) has landed $23.9M USD in new funding from the CHIPS Act
Why it matters:
- The grant funding will go towards accelerating the production capabilities at Rocket Lab’s semiconductor facility located in Albuquerque, New Mexico
- Rocket Lab is one of the only companies in the United States of America who can produce highly efficient space-grade solar cells that are purpose built for spacecraft and satellites
By the numbers:
- Since inception Rocket Lab’s semiconductor manufacturing facility has supplied 1,100 satellites with essential hardware
- The new funding from the CHIPS Act is anticipated to boost Rocket Lab’s production capabilities by roughly 50%
Going deeper:
- The CHIPS Act has been making a lot of new funding commitments to publicly listed companies lately for semiconductor production based in the United States of America, including a multi billion dollar deal with Taiwan Semiconductor Manufacturing Company (NYSE: TSM) and a large scale injection of capital into Wolfspeed (NYSE: WOLF)
