From: Accion Systems
Posted: Wednesday, September 22, 2021
Accion Systems (“Accion”), a leading manufacturer of the world’s most advanced ion electrospray in-space propulsion systems, today announced that former National Aeronautics and Space Administration (“NASA”) Administrator Dan Goldin has joined its Board of Directors.
Dan was the longest-tenured Administrator of NASA, from April 1992 to November 2001. His deep experience with the space industry and direct experience in development and operation of electric propulsion systems will help Accion position its flagship ion thruster, TILE, for wider adoption in the market. Dan will also be invaluable in the development of future products and scaling the TILE technology to serve a wider spectrum of satellites and spacecraft.
“It’s been incredible to see how far the commercial space industry has come since my days as NASA Administrator,” said Dan. “To keep the space industry sustainable, however, spacecraft of all sizes need to be able to avoid collisions, de-orbit safely and perform crucially required onboard thruster functions to assure mission success. The TILE propulsion system will play a pivotal role in unlocking that sustainability, which is why I’m excited to join Accion’s Board and help the company bring this incredible technology to space missions everywhere.”
Also joining as a Board Observer is Anthony Vinci, Managing Director of Tracker Capital Management and Former Associate Director and CTO of the National Geospatial-Intelligence Agency. Anthony’s background will help forge relationships with the defense community to bring agility to America’s critical remote sensing and communications infrastructure in space.
Peter Kant, CEO of Accion, commented: “We are thrilled to welcome Dan and Anthony to our team. Their deep knowledge and expertise will help propel Accion as we lead the industry toward safer, more efficient in-space propulsion systems.”
Accion recently launched two missions into space with Astro Digital and NanoAvionics that are currently conducting in-space testing of the TILE 3 propulsion system. Unlike conventional electric propulsion systems, TILE provides propulsion without heavy tanks, toxic propellants, or external cathodes and ionization chambers. It is the only commercial propulsion system to be certified as safe for use on the International Space Station. Accion is currently developing the next generation of TILE systems to meet the needs of larger spacecraft, to debut in 2022.
In July, Accion raised $42 million in Series C funding led by affiliates of Tracker Capital Management, who acquired a majority stake in the company.
About Accion Systems
Accion Systems develops advanced satellite propulsion systems for the space industry. Its in-space propulsion technologies optimize scalability, performance, and efficiency. Accion Systems’ flagship product, TILE, uses proprietary ion electrospray thrusters, bringing electric propulsion to satellites of all sizes and redefining in-space capabilities. Accion Systems was founded in 2014 and is based in Boston, Massachusetts. www.accion-systems.com
About Tracker Capital
Tracker Capital Management (together with certain affiliated investment vehicles, “Tracker Capital”) is a New York-based venture capital firm that invests in high-potential companies with advanced capabilities. Tracker Capital was founded by Stephen Feinberg, Co-Founder and Co-Chief Executive Officer of Cerberus Capital Management, L.P., as a separate and independent investment vehicle focused on early-stage investments in areas such as 5G technology and stack ecosystem; artificial intelligence and machine learning; autonomy; aerospace; semiconductors; and energy and materials. In addition to investing resources to fund development, Tracker Capital’s venture-oriented platform provides guidance and operational support to entrepreneurs to help transform their ideas, concepts, technologies, and businesses into proven, sustainable organizations.
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