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Rocket Lab to Acquire Solar Panel Maker SolAero
Rocket Lab to Acquire Solar Panel Maker SolAero
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Long Beach-based rocket maker and SpaceX competitor Rocket Lab agreed to pay $80 million to acquire SolAero, a New Mexico-based company that makes solar cells and panels to power devices in outer space. The transaction is expected to close by the first quarter of 2022. Read more >>
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SolAero's technologies have been in high demand ever since it gained recognition for making the solar panels that powered NASA's Mars lander Insight and the Ingenuity craft. With this purchase, Rocket Lab is ensuring it will have access to durable power cells capable of standing up to the rigors of space travel — ahead of its competitors.
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