Helicity Space, a commercial space company developing in-space propulsion and power technology based on fusion power, announced an investment from Lockheed Martin Ventures, the venture capital arm of Lockheed Martin. This latest raise from Lockheed Martin Ventures comes on the heels of a $5 million seed round of Helicity Space funding from investors including Airbus Ventures, TRE Ventures, Voyager Space Holdings, E2MC Space, Urania Ventures, and Gaingels in December.

"This investment from Lockheed Martin Ventures marks a pivotal moment for Helicity Space in our mission to revolutionize space transportation," said Dr. Setthivoine You, co-founder and chief scientist at Helicity Space. "It is a testament to the real progress we are making each day in the laboratory."

In addition to the financial backing, Helicity Space will also have the opportunity to work alongside Lockheed Martin’s cutting-edge researchers and engineers moving forward − invaluable resources in the next era of space transportation.

"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, vice president and general manager, 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 customer’s mission success."

Helicity Space is committed to revolutionizing the space industry through the development of fusion propulsion and its applications for a spacefaring civilization, ultimately benefiting society on Earth. Its innovation is the culmination of more than 20 years of research by world-class scientists together to leverage plectonemic plasma jets for confinement, magnetic reconnection for heating, and peristaltic magnetic compression for raising energy density.

"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," said Marta Calvo, co-founder and chief operations officer of Helicity Space. "Each investment ensures that Helicity Space will establish fast, sustainable, and safe in-space applications. On behalf of Helicity Space's leadership and board of advisors, we thank Lockheed Martin Ventures and our other investors who continue to collaborate with us to open the solar system for science, exploration, business, and national security."

Helicity Space is also supported by a significant team of leading strategic advisors, who are experts in their fields, including former NASA Astronaut and NASA Associate Administrator of the Office of Space Flight, William Readdy, former chief of NASA’s Science Mission Directorate and leader of the NASA New Horizon’s mission, Dr. Alan Stern, and former Director of the NASA Ames’ Research Center, Dr. Simon “Pete” Worden.

"It's incredibly gratifying to witness the industry begin to embrace Helicity Space’s mission of transforming space transportation," said Storm Boswick, strategic advisor for Helicity Space and founder of TRE Ventures. "This revolutionary technology will contribute to a future where the cosmos is within closer reach."

Click here to learn about Helicity Space's Fusion Propulsion Technology.