Accion Systems – Cosmic Log

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.

Boeing invests in electric space propulsion

Thruster chips on satellite — An artist’s conception shows Accion Systems’ electrospray thruster chips (in gold) arranged in a propulsion array on a satellite. (Accion Systems Illustration / Zina Deretsky)

Boeing’s venture capital fund is leading a $3 million investment round for Accion Systems, a Boston-based startup whose electric propulsion system for satellites could get its next in-space test early as next month.

Joining Boeing HorizonX Ventures in the Series B round is GettyLab, a Bay Area venture fund focusing on innovations in science and technology.

Accion’s propulsion system is certainly innovative, and in line with the increased emphasis at Boeing and elsewhere on electric propulsion for space applications.

Get the full story on GeekWire.