Accion Systems raises $11M for tiny ion engines

Accion ion thruster

Each of Accion Systems’ ion thrusters is about the size of a postage stamp. (Accion Systems Photo)

Boeing HorizonX Ventures has teamed up with Shasta Ventures to lead an $11 million Series B investment round for Accion Systems, a pioneer in developing miniaturized ion propulsion systems for satellites in space.

This isn’t the first time Boeing and Shasta have announced investments in Accion, which was spun out from the Massachusetts Institute of Technology in 2014. Shasta led a $7.5 million Series A round in 2016, and Boeing HorizonX led a $3 million venture round in 2018.

Accion says it has now amassed $36 million in total funding to date, including $14 million in Defense Department and NASA contracts. The new capital will be used to ramp up production capabilities as well as Accion’s workforce, the company said today in a news release.

Get the full story on GeekWire.

About Alan Boyle

Aerospace and science editor for GeekWire, creator of Cosmic Log, author of "The Case for Pluto: How a Little Planet Made a Big Difference," president of the Council for the Advancement of Science Writing. Check out "About Alan Boyle" for more fun facts.
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