Fenix Space Signs Letter of Intent for $30-Million Series A Round

Alaska Capital LLC, an Alaska-based investment and development company, signed a letter of intent to invest $30 million in a Series A financing of Fenix Space Inc., a San Bernardino-based company, pioneering reusable tow-launch and hypersonic aerospace technologies.

As part of the collaboration, Alaska Capital also intends to assist Fenix Space with access to Alaska’s unique strategic locations for aerospace and defense operations. This includes airports and launch facilities in Kodiak, Anchorage, Fairbanks and the Aleutians. These sites position Alaska as a leading global hub for commercial space launches and hypersonic testing as well as international trade and global logistics.

“This partnership between Alaska Capital and Fenix Space represents a significant step toward delivering a transformational on-demand tow-launch technology for the United States, with unmatched operational flexibility and affordability,” said Dennis Muilenburg, board director for Fenix Space, co-founder of New Vista Capital and former chairman and chief executive of The Boeing Company, in a statement.

Upon completion of the transaction, Alaska Capital will appoint one member to Fenix Space’s board of directors. In addition to financial investment, Alaska Capital aims to contribute to corporate governance, compliance and strategic growth through revenue generation and partnership development.

“I am personally excited that this will utilize Alaska’s potential as a central player in the next era of aerospace,” said John Tichotsky, managing partner of Alaska Capital, in a statement. “By combining Alaska’s unparalleled geographic advantages in the Pacific with other sites, along with Fenix Space’s breakthrough technology suite, we are creating a pathway for innovation in space access, defense and global trade.”

Fenix Space was founded by Jason Lee to develop advanced reusable tow-launch and aerospace technologies to deliver payloads to orbit and enable hypersonic transportation. Fenix Space’s U.S. Department of Defense customers include the Defense Innovation Unit (DIU), the Space Development Agency (SDA) and National Security Innovation Capital (NSIC).

Information for this article was sourced from Fenix Space.