Mpower Technology adds Lockheed's venture arm to its investor network

Mpower Technology, the solar power systems maker that closed a $21 million Series B round back in the spring, has added the venture capital arm of Lockheed Martin to its network of investors.

Lockheed Martin Ventures’ involvement increases the total Series B capital raise to around $24 million for mPower, which is using those resources to scale production of its flagship DragonSCALES module for enabling solar power in space.

The module is designed to provide solar cells commonly called “solar glitter,” which is seen as a less expensive alternative to others that traditionally rely on gallium arsenide.

"Space has never been more important to national security, and affordable, reliable power is a mission-critical enabler for future space operations," Chris Moran, vice president and general manager of Lockheed Martin Ventures, said in a release Tuesday. "The technology in development by mPower solves some of the hard challenges in unique and innovative ways—opening new doors for spacecraft design, power production, and scalability. We're excited to support their continued growth and development as we advance U.S. leadership in space exploration."

Razor’s Edge Ventures and Shield Capital also participated in the Series B round, making Lockheed Martin Ventures the third investor in mPower that focuses on defense and national security technologies.

"Lockheed Martin brings deep mission expertise and a bold vision for the future of space and national defense,” mPower chief executive Kevin Hell said. “Their support is a validation of our role in enabling rapid, scalable, and cost-effective solar power across the new space economy and in support of U.S. security priorities."

Mpower was founded in 2015 and is a spinout of Sandia National Laboratories.