Albuquerque-based mPower Technology has closed a significant over 21 million dollar Series B funding round, marking a major milestone for the innovative space solar power company. Announced on May 8, 2025, the round was led by Razor’s Edge Ventures with participation from Shield Capital. This fresh capital injection builds directly on the company’s earlier Series A financing led by Cottonwood Technology Fund following its successful spin-off from Sandia National Laboratories.
The new funds will primarily accelerate high-volume manufacturing capabilities for mPower’s flagship DragonSCALES solar technology. DragonSCALES represents a breakthrough in space solar power, consisting of an ultralight, flexible mesh of interconnected miniature silicon solar cells. Unlike traditional rigid solar arrays, this advanced design offers unmatched scalability, customizability, and resilience while dramatically reducing production, operation, and integration costs. Already flight-proven on multiple missions, DragonSCALES is positioned to meet surging demand in both commercial satellite constellations and national security space programs.
President and CEO Kevin Hell highlighted the strong investor confidence in the company’s proven track record. “This new funding from highly regarded space sector investors that focus on national security is a testament to the confidence our customers have in our proven ability to rapidly deliver space power at scale,” Hell stated. The investment will support the establishment of mPower’s first dedicated high-volume production line in partnership with Universal Instruments Corporation in Conklin, New York. This facility is expected to deliver annual capacity of up to two megawatts of DragonSCALES modules, removing the final major hurdle to widespread adoption.
mPower Technology emerged from Sandia National Laboratories with a mission to transform solar power generation in the demanding environment of space. Traditional solar arrays often struggle with weight constraints, deployment complexity, and high costs, limiting their use in modern small satellite and large constellation missions. DragonSCALES addresses these challenges through its modular, mesh-like structure that can conform to complex surfaces and withstand extreme conditions while maintaining high efficiency. The technology has already demonstrated reliability in orbit, giving customers confidence for critical applications ranging from Earth observation to defense communications.
The timing of this funding aligns perfectly with explosive growth in the space industry. Commercial satellite operators are rapidly expanding mega-constellations, while national security agencies increasingly rely on resilient space-based assets. mPower’s silicon-based approach offers compelling economics compared to more expensive III-V solar cells traditionally used in space, without sacrificing performance. Investors Razor’s Edge and Shield Capital, both known for backing dual-use technologies with strong national security relevance, see mPower as a key player in securing America’s leadership in space power systems.
Beyond immediate manufacturing scale-up, the Series B capital will fuel continued advancement of the DragonSCALES platform. Future iterations aim to push efficiency boundaries and expand compatibility with next-generation spacecraft designs. The company’s leadership, including CTO and founder Dr. Murat Okandan, brings deep expertise from Sandia, ensuring rigorous testing and rapid iteration from laboratory breakthroughs to orbital deployment.
This funding round underscores growing investor appetite for deep-tech cleantech solutions that bridge terrestrial innovation with space applications. As satellite launches accelerate globally, reliable and cost-effective power generation becomes a strategic imperative. mPower Technology’s progress positions it at the forefront of this transition, promising more capable, affordable, and resilient solar solutions for the expanding space economy.
With production ramping up and DragonSCALES already earning flight heritage, mPower is poised for substantial growth in the coming years. The successful Series B close not only validates the technology but also signals strong momentum for American innovation in critical space infrastructure. As the company scales, it stands ready to power the next wave of ambitious space missions, from commercial broadband networks to advanced defense systems, delivering next-generation solar performance where it matters most — above Earth.
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