Albuquerque, N.M. – mPower Technology, a trailblazer in flexible solar power solutions for space applications, announced today a significant strategic investment from Lockheed Martin Ventures. This investment, originating from the venture capital arm of the renowned Lockheed Martin Corporation, marks a pivotal moment for mPower as it seeks to expand its reach and solidify its position as a leading provider in the space solar technology sector.

The investment is an addition to mPower’s recently concluded Series B funding round, boosting the total capital raised in this round to over $24 million. This influx of funds will be instrumental in accelerating mPower's growth trajectory, enabling the company to further develop and deploy its innovative solar power solutions.

mPower Technology has distinguished itself through its commitment to providing high-performance, flexible solar power solutions specifically designed for the harsh environment of space. Their technology has already demonstrated proven on-orbit performance, making them a trusted partner for organizations operating in the space sector. The company's unique approach to solar power generation focuses on creating lightweight, adaptable solar arrays that can efficiently convert sunlight into usable energy for satellites, spacecraft, and other space-based platforms.

The backing of Lockheed Martin Ventures, a company with a long and distinguished history in aerospace and defense, provides mPower with not only financial resources but also invaluable industry expertise and potential collaboration opportunities. This strategic partnership is expected to enhance mPower’s ability to innovate and deliver cutting-edge solar power solutions that meet the evolving needs of the space industry. The investment signals a strong vote of confidence in mPower’s technology and its potential to revolutionize the way spacecraft are powered. The Series B funding will enable mPower to scale its production capabilities, expand its research and development efforts, and further strengthen its position in the competitive space solar power market. Further details of the investment and mPower’s future plans are available on Benzinga.com.