Mentioned:
The United States Department of Commerce is pouring new funding into Rocket Lab. And together they’re aiming to scale up the domestic production of semiconductors for space missions.
What’s happening:
- Rocket Lab (NASDAQ: RKLB) has been awarded $23.9M USD in new funding from the United States Department of Commerce for accelerating the development of semiconductors and space-grade solar cells that are purpose built for space missions
Why it matters:
- Rocket Lab is one of the most important publicly traded space companies in North America and has existing contracts to provide space-grade solar cells and semiconductors to NASA and the United States Department of Defense
Going deeper:
- The new funding being granted to Rocket Lab comes directly from the CHIPS and Science Act
- Rocket Lab has publicly stated they are focused on doubling their production capacity for both semiconductors and space-grade solar cells that are manufactured in the United States of America
