Insider Brief:
- Rocket Lab has signed a preliminary agreement under the U.S. CHIPS and Science Act for up to $23.9 million in funding to expand and modernize its operations.
- This agreement aims to increase Rocket Lab’s compound semiconductor production for spacecraft and satellites, addressing the rising demand for these solar cells both for national security and consumer needs.
- The proposed funding under the CHIPS Act will enable Rocket Lab to bring more than 100 direct manufacturing jobs to Albuquerque and boost the facility’s production capacity by 50% over the next three years
Rocket Lab has reportedly signed a preliminary agreement under the U.S. CHIPS and Science Act for up to $23.9 million in funding to expand and modernize its operations.
The event celebrating the milestone saw participation from Rocket Lab’s executive leadership, Congressional leaders, and state and local officials. This agreement aims to increase Rocket Lab’s compound semiconductor production for spacecraft and satellites, addressing the rising demand for these solar cells both for national security and consumer needs.
For over 25 years, Rocket Lab’s Albuquerque facility has been a hub for space-grade solar technology. It currently employs over 370 people and has produced more than four megawatts of solar cell energy. These solar cells have powered over 1,100 satellites in orbit and supported critical space missions, including the James Webb Space Telescope, NASA’s Artemis lunar explorations, and the Mars Insight Lander.
The proposed funding under the CHIPS Act will enable Rocket Lab to bring more than 100 direct manufacturing jobs to Albuquerque and boost the facility’s production capacity by 50% over the next three years. This expansion supports critical space programs, missile awareness systems, and exploratory science missions.
Adam Spice, Rocket Lab’s Chief Financial Officer, discussed the importance of this investment, stating that it will bolster the company’s economic footprint and technological leadership in New Mexico. U.S. Senator Martin Heinrich noted the transformative impact of the CHIPS Act, noting that the $23.9 million investment will create advanced manufacturing jobs in Albuquerque.
Senators Ben Ray Luján and Melanie Stansbury, alongside other officials, praised the initiative for its potential to boost the economy and drive tech innovation in New Mexico. The expansion aligns with efforts to make New Mexico a leading hub for advanced technologies, providing more opportunities for high-tech workers and their families.
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