US based end-to-end space company that launches satellites, Rocket Lab USA, Inc. has entered a definitive agreement to acquire solar cell maker for use in space, SolAero Holdings, Inc. for $80 million in cash.
SolAero provides solar cells, panels and composite structural products for space missions that it produces at its Albuquerque, New Mexico fab. Its product portfolio includes high efficiency solar cells and cover glass interconnected cells (CIC) with efficiency ranging between 30% to 33%.
Among its various projects, it touts SolAero products having supplied power to NASA's Parker Solar Probe and Mars Insight Lander.
The cell manufacturer will leverage Rocket Lab's resources and manufacturing capabilities to boost high-volume production at scale. On completion of the acquisition in Q1/2022, SolAero will continue to be led by its existing President and CEO Brad Clevenger.
For Rocket Lab, the deal aligns with its growth strategy of vertical integration for comprehensive space solutions that includes spacecraft manufacture, satellite subsystems, flight software, ground operations, and launch.
"By combining our innovative teams, industry-leading technologies, and strong resources, we can advance space exploration and enable our customers to push the boundaries of what's possible in orbit," said Rocket Lab's Founder and CEO Peter Beck.
In April 2021, Canadian high-purity metals producer 5N Plus said it will acquire German multijunction solar cells maker for space applications, Azur Space (see Space Solar Cell Maker Azur Space To Get New Owners).