Rocket Lab USA Inc., a global leader in launch services and space systems, announced today that it has completed the previously announced $80 million cash acquisition of SolAero Holdings, Inc., a leading provider of space solar power products and precision aerospace structures for the global aerospace market. On December 13, 2021, Rocket Lab announced the completion of a deal to buy SolAero, subject to certain closing conditions.
The acquisition is in line with Rocket Lab vertical integration growth plan, which aims to provide a complete space solution that includes spacecraft manufacturing, satellite subsystems, flight software, ground operations, and launch. SolAero’s space solar cells are among the highest performing in the world, supporting civil space exploration, scientific, defence and intelligence, and commercial applications as one of only two firms in the United States producing high-efficiency, space-grade solar cells.
SolAero will use Rocket Lab resources and manufacturing capabilities to boost high-volume production and make high-performing space power technologies more widely available. We are thrilled to be teaming forces with SolAero, which has established itself as a leading provider of solar solutions. SolAero is a great compliment to Rocket Lab vertically integrated business model, allowing us to provide our customers with entire space mission solutions.
SolAero’s solar cells, solar panels, and composite structural materials have enabled more than 1,000 successful space flights with 100 percent reliability and mission success to date. SolAero was founded in 1998 and is located in Albuquerque, New Mexico. SolAero’s products have provided electricity to NASA’s Parker Solar Probe and Mars Insight Lander, the largest solar array ever erected on the surface of Mars, and multiple Cygnus Cargo Resupply Missions to the International Space Station during the last two decades.