Positron Dynamics Raising $1.5 Million of Growth Capital on Propel(x)
Propel(x), the online angel investment platform that helps investors source, evaluate, and fund pioneering science and technology startups, today announced that Positron Dynamics, a company that is developing an ultra-efficient, anti-matter powered spacecraft, capable of exploration beyond our solar system, is targeting a growth capital raise of $1.5 million on Propel(x)’s advanced platform.
“Positron Dynamics has hit some major milestones in 2016 both on the regulatory and technology fronts, opening the door for our next phase – including our next round of funding”
Positron Dynamics was founded by three physicists and engineers: Dr. Ryan Weed, Dr. Josh Machacek, and Bala Ramamurthy. The founders have experience at world leading antimatter labs and in every stage of spacecraft product life cycle. Notable investors of Positron Dynamics include Peter Thiel’s Breakout Labs, Draper Associates, KD Ventures and Alchemist Accelerator.
“Positron Dynamics has hit some major milestones in 2016 both on the regulatory and technology fronts, opening the door for our next phase – including our next round of funding,” says Dr. Ryan Weed, founder and CEO of Positron Dynamics. “2017 promises to be another great year, with the completion of our current phase of stress testing the technology and preparing for a demonstration launch.”
About the Technology
With current technology, it takes decades for the fastest spacecraft to reach the edge of our solar system and thousands of years to reach the closest star. By harnessing the power of anti-matter, the most energy dense material in the universe, Positron Dynamics is creating an engine 1000x more powerful than the current state-of-the-art technology. Anti-matter is created by squeezing enough energy into a very small space – such as a particle accelerator – where particle-antiparticle pairs are produced spontaneously. The antiparticles, include: antihydrogen, consisting of antiprotons and positrons. When recombined with matter, anti-matter will release a thousand times more energy than the same mass of fuel in a nuclear fission reactor and some 2 billion times more than burning the equivalent in hydrocarbons. Positron Dynamics is readying this energy form for space rocket propulsion.
This revolutionary capability will transform how satellites and satellite constellations operate in low-earth-orbit and geo-stationary orbit. The new rocket engine will require less fuel, resulting in billions of dollars of cost savings, added “aircraft-like” maneuverability and flexibility, and longer satellite lifetimes, which is crucial for satellites with applications from Earth imaging to global broadband internet service.
“It’s (anti-matter propulsion) beyond feasible,” says Charles Ivie, a retired NASA scientist, astronomer and spacecraft systems designer. “It’s a natural next step” in spacecraft propulsion, “as fundamental as the discovery of the steam engine.”
“Over the next 5 years, the market for small satellite launch services will continue to grow with nearly 3,000 launches expected between 2016 and 2022. But this is just the start. By rethinking rocket propulsion, Positron Dynamics’ game-changing technology will allow scientists to explore beyond our solar system,” said Swati Chaturvedi, CEO of Propel(x). “With a spacecraft engine that is 1000x faster and more efficient than existing technology, Positron Dynamics’ revolutionary technology has the potential to make an enormous impact on space exploration. We applaud Positron Dynamics for its fundraising success on the Propel(x) platform and look forward to what the future has in store.”
Servicing the propulsion needs of the satellite market are just the beginning for Positron Dynamics, with a total addressable market estimated at $165B. This includes commercial, government and military markets in the near-term, planets and moons in the midterm and the outer solar system and asteroid mining in the long-term.
Positron Dynamics is one of the many 506(c) companies raising funds on Propel(x)’s platform. The 506(c) registration allows a company to broadly solicit and generally advertise the offering, however investments are restricted to accredited investors.
Financing the Future
Propel(x) was founded to help angel investors identify, understand and invest in breakthrough technologies in sectors including life sciences, computer sciences, energy & clean technology, new materials and space. Not only are investors who invest in science and technology companies financing some of most innovative technologies, they are also investing in some of the most lucrative – deep technology companies account for the majority of the DJIA index today.
About Propel(x)
Propel(x) Inc. is an online investment platform that connects science and technology startups with angel investors in order to unleash huge innovations, grow great businesses, and have an impact on the way people live. Founded in 2013 by CEO, Swati Chaturvedi and Lisheng Wang, Propel(x) introduces its members to ground-breaking startups that are developing new forms of clean energy, life-saving drugs, new methods of space exploration, and innovative new materials amongst others. By facilitating private funding for startups based on scientific and technological breakthroughs, Propel(x) seeks to change the world and build the next generation of great companies. For more information, please visit: www.propelx.com.
About Positron Dynamics
Positron Dynamics Inc. is an aerospace company that is building the rocket engine for the 21st century. By harnessing antimatter, the most energy dense material in the universe, Positron is creating a propulsion system 1,000 times more efficient than current state of the art Ion/Electric Thrusters. Founded in 2012 by two physicists and a rocket engineer, their core innovation is in the ability to generate intense beams of cold positrons from radioisotope sources, leading to a compact yet powerful propulsion system. This revolutionary capability will transform how spacecraft operate in space. Lower launch costs (less fuel required), added maneuverability and longer satellite lifetimes are incredibly important for applications in Earth Orbit and beyond. For more information, please visit www.positrondynamics.com.
Contacts
For Propel(x) Inc.
Christine Hardman, 646-277-1286
christine.hardman@icrinc.com
