Based on research at MIT, Accion Systems has received corporate backing from Boeing to develop more nimble and efficient propulsion for spacecraft.
Accion Systems, a US-based propulsion system manufacturer based on research at Massachusetts Institute of Technology (MIT) has received $3m in a round led by Boeing HorizonX Ventures, the corporate venturing arm of aerospace technology supplier Boeing.
Commercialisation firm Gettylab also contributed to the funding round.
Founded in 2014, Accion is developing an electric propulsion for satellites and other spacecraft that uses a non-toxic ionic liquid as the propellant and extremely compact engines to provide thrust.
The intention is to improve the lifespan and maneuverability of spacecraft by offering a smaller, lighter and more cost-effective alternative to conventional ion-based propellants.
The funding will help Accion grow its manufacturing capacity and open up access to expertise, resources and facilities from Boeing, which previously introduced an all-electric satellite propulsion system called 702SP.
Accion was co-founded by Natalya Bailey, who developed the underlying technology as part of her PhD research, and her fellow MIT graduate Louis Perna. Bailey and Perna act as chief executive and chief scientist respectively.
Accion Systems secured $7.5m in a 2016 series A round led by venture capital firm Shasta Ventures and backed by RRE Ventures, Founder Collective and Slow Ventures.
FF Science had led a $2m seed round in 2015 with participation from RRE, Founder Collective and assorted angel investors.
