Raytheon Technologies Invests in Rocket Propulsion Company Firehawk
Raytheon Technologies on Thursday said its Missiles and Defense segment has invested in Firehawk Aerospace, a startup developing and manufacturing lower cost, high-performance hybrid rocket engines.
The size of the Series A investment wasn’t disclosed. Raytheon said the investment means the two companies will collaborate on research and development efforts that could result in integrating Firehawk’s technology into future missile systems.
Firehawk in November 2020 closed a previous $2 million Series A funding round led by Victorum Capital Club with contributions from Achieve Capital and Harlow Capital Management.
Florida-based Firehawk has developed a hybrid rocket fuel that employs additive manufacturing. The company says its engine has just 20 components and no TNT equivalency, enhancing safety, will cost 20% of the price of a competitive engine, and is designed to build custom rocket engines for a variety of different launch purposes, including small satellite launchers, lunar transport systems, manned spacecraft, and for small defense purposes. The company also says its engines can be custom designed in four to six months.
“Advanced propulsion technology is critical to developing next-generation missile solutions,” Wes Kremer, president of Raytheon Missiles & Defense, said in a statement. “Over the next several years, our companies will work together to identify projects that evolve Firehawk’s technology for use in defense applications.”