Rocket Lab could receive direct funding through the CHIPS and Science Act under a nonbinding preliminary memorandum of terms it signed with the Department of Commerce and plans to use the proposed investment to establish a resilient supply of solar cells used to power satellites and other spacecraft.
The department said Tuesday the company’s space-grade solar cells are radiation-resistant compound semiconductors that could convert light to electricity, powering exploratory science missions, missile awareness systems and other key U.S. space programs.
The proposed $23.9 million CHIPS investment would enable Rocket Lab to generate over 100 direct manufacturing jobs.
“Semiconductors are central to modern life, to our economy, and to America’s future. We are proud to be strengthening that future with the support of the CHIPS Office by expanding our production facilities to meet growing demand for the semiconductors that power the nation’s most critical science, defense and commercial space missions,” said Peter Beck, founder and CEO of Rocket Lab.
With the expansion project, the company could increase its production of compound semiconductors by 50 percent within the next three years.
