Commercial space technology company Helicity Space has found new investment from Lockheed Martin Corp. The Pasadena-based company received an undisclosed amount of funding from Lockheed Martin Ventures.
Helicity Space closed a $5 million seed funding round in December.
Helicity is developing fusion-based propulsion and power technology that can efficiently convert electricity into plasma heating. The technology is intended to enable and advance deep-space travel. Marta Calvo, chief operations officer at Helicity, said in a statement that the company is looking to establish “fast, sustainable and safe” in-space applications.
“This investment from Lockheed Martin Ventures furthers the work Helicity Space is doing to advance nuclear fusion propulsion technology, which is critical to the future of space exploration and commerce,” Calvo said.
Helicity was co-founded in 2018 by Calvo, Stephane Lintner and Dr. Setthivoine You. The company’s core technology, called Helicity Drive, is composed of scalable, compact fusion-propulsion engines. The engines are designed for in-space propulsion and require no radioactive fuel. In addition to investment from Lockheed Martin, Helicity will be able to work alongside Lockheed’s staff.
“Lockheed Martin Ventures is looking for new and transformative technologies to ensure the U.S. and its partners always maintain the strategic advantage,” said Chris Moran, VP and GM of Lockheed Martin Ventures. “Helicity Space’s fusion space propulsion and power technology has the potential to support future deep-space missions and support our customers’ mission success.”
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