EXPLORATION PARK and JACKSONVILLE, Fla. (December 20, 2018) – Today, Space Florida and Made In Space, Inc., (MIS) announced a second round of financing provided by Space Florida to support MIS’s expanding operations in Florida. This transaction builds on the successful financing arrangement pioneered between MIS and Space Florida in 2017 by further leveraging space-bound and space-based assets as collateral. With operations in Jacksonville, Florida and in Silicon Valley, MIS is a market leader in the growing segment of in-space manufacturing.
“Space Florida recognizes in-space manufacturing as one of the highest growth potentials within the commercial space ecosystem,” said Frank DiBello, President and CEO of Space Florida. “We are proud to expand our relationship with Made In Space, a true leader in this segment, and look forward to additional investments in the growing market of in-space manufacturing.”
“Space Florida’s considerable efforts and resources have allowed Made In Space to accelerate our revolutionary in-space technology platform and grow our team” said Andrew Rush, President & CEO of Made In Space, Inc. “As we continue to build upon our relationship, Space Florida’s contributions have helped to further the success of our innovative fiber optics program and expand our presence within the commercial space sector”
MIS has continued to expand its track record of strong revenue growth and technological innovation over the past year as well as grew its contract backlog. This activity has boosted commercial space ventures in the state of Florida and attracted large market players. MIS looks forward to the launch of its in-space Recycler payload early next year to help complete the plastic sustainability lifecycle aboard the International Space Station.
Additionally, significant progress has been made in the development of its Archinaut in-space manufacturing and assembly technology. A key milestone was met recently by successfully demonstrating additive manufacturing and robotic assembly operations in a thermal vacuum, space-like environment.
About Space Florida: Space Florida was created to strengthen Florida’s position as the global leader in aerospace research, investment, exploration and commerce. As Florida’s aerospace and spaceport development authority, we are committed to attracting and expanding the next generation of space industry businesses. With its highly trained workforce, proven infrastructure and unparalleled record of achievement, Florida is the ideal location for aerospace businesses to thrive – and Space Florida is the perfect partner to help them succeed. www.spaceflorida.gov
About Made In Space: Made In Space, Inc. is the world’s most experienced in-space manufacturing company. Established in 2010 and with offices in Florida, California, Alabama and Ohio, Made In Space leverages the unique properties of the space environment to develop manufacturing solutions to commercial, industrial, research and defense challenges. Archinaut, one of Made In Space’ flagship programs, enables in-space production and assembly of the backbone structures for large telescopes, repair, augmentation, or repurposing of existing spacecraft, and unmanned assembly of new space stations. The company’s vision is to enable the future of space exploration by offering off-Earth manufacturing capabilities. For more information about Made In Space, visit www.madeinspace.us.