Silverpeak, the mid-market technology specialist representing growth-stage technology businesses in M&A and financing transactions, is pleased to announce that it acted as the exclusive financial advisor to mPower Technology, Inc., the leading provider of solar power solutions for space, on its $21m+ Series B funding round.
The new funding will be used to further scale production capacity, continue the advancement of DragonSCALES™ and position the company for sustained leadership in the rapidly expanding commercial and national security space markets. The capital raise builds upon mPower’s Series A financing led by Cottonwood Technology following its spin-off from Sandia National Laboratories.
Kevin Hell, President and CEO of mPower Technology, commented:
“This funding round marks a pivotal step in our mission to power the future of space. Silverpeak’s global reach and deep sector expertise were invaluable in securing high-quality strategic investors. Their guidance helped us articulate our equity story to a sophisticated investor base, and we’re grateful for their support in navigating this milestone transaction.”
David Ford, Partner at Silverpeak, said:
“We are proud to have advised mPower Technology on this important funding round, which enables the company to accelerate and become the truly disruptive solution in space power. The transaction underscores our continued focus on frontier technologies where engineering excellence and commercial ambition intersect.”
With a significant new business pipeline and over 12 years of combined on-orbit space heritage, mPower is rapidly becoming the leading provider of power solutions for the next generation of space missions. mPower has been chosen as a solar power provider for key industry players such as Airbus, Blue Origin/Honeybee, Firefly Aerospace, Lynk Global, Gravitics and many others.
This growing roster of customers will be supported by mPower’s first high-volume automated manufacturing line which is located at mPower’s contract manufacturer Universal Instruments Corporation in Conklin, New York. This line dramatically expands throughput and will produce over 2 megawatts of DragonSCALES modules annually, a capacity greater than the total combined global production output of traditional gallium arsenide (III-V) solar module suppliers. High-volume operations commence next month and will produce solar modules for hundreds of spacecraft, including mPower’s contract to supply more than 1.1 megawatts of solar modules for Airbus’ MDA AURORA™ program, one of the largest space solar deals in history.
About Silverpeak
Silverpeak is a mid-market technology specialist, representing growth tech businesses in M&A and financing transactions. Our highly experienced team has completed over 300 deals, leveraging deep industry knowledge to uncover and articulate strategic value. We work with innovative technology companies to identify the right buyers and investors globally.
Silverpeak LLP is authorised and regulated by the Financial Conduct Authority. For more information, please visit www.silverpeakib.com