MP Space raises $16m to expand spacecraft battery manufacturing

(SpaceEnergy) Australian spacecraft power supplier MP Space has raised A$23m (approximately US$16m) to expand manufacturing of battery and power-management systems for satellites and other space missions.

The Sydney-based company announced the seed financing on 26 October, identifying Australian venture capital firm Blackbird as lead investor.

Other participants included Systemiq Capital, Seraphim Space, Speedinvest and MFV Partners.

MP Space said the investment would finance increased manufacturing capacity in Australia, expansion of its spacecraft power-system product range and recruitment of additional engineers.

Founded in January 2024 by former Tesla engineers Jay Manley and Sam Paterson, the company develops standardised spacecraft electrical power hardware incorporating battery management, power electronics and software.

Its Pack2 lithium-ion battery platform includes configurations with nominal storage capacities of 432Wh and 864Wh, both operating at 28.8V.

The smaller configuration weighs 2.4kg, while the larger weighs 4.5kg.

MP Space said its technology had been incorporated into spacecraft designs and mission programmes covering more than 500 satellites and other spacecraft.

The company aims to replace bespoke spacecraft power systems with standardised hardware manufactured at greater scale.

Chief executive Jay Manley said the financing would accelerate production expansion and development of additional power-system platforms over the next 12 months.

The company did not disclose a timetable for completing the manufacturing expansion or identify the customers associated with its spacecraft programmes.