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Source Energy Emerges from Stealth with $6.5M Seed Round After Powering Impulse Space’s Mira OTV

May 7, 2024 | Press Release

Longmont, CO/May 7, 2024 – Source Energy, a supplier of space solar arrays, has emerged from stealth mode and revealed the orbital success of the supplied primary solar arrays for commercial partner Impulse Space, a leader of in-space transportation services.  

Source Energy was founded in October 2021 by industry veterans Philip Keller and Bryan Mazor on the vision of providing the industry with an assured supply of solar panels, deployable solar arrays, and space hardened photovoltaic (PV) modules at a dramatically lower cost, and higher reliability than what is currently available. 

Impulse Space, the in-space transportation company founded by Tom Mueller, is opening access to space through its fleet of in-space transportation vehicles. Mira, Impulse’s first Orbital Transfer Vehicle (OTV) is powered using solar panels supplied by Source. Mira recently achieved a significant milestone in the successful completion of its inaugural mission, LEO Express-1.

"Today marks a significant milestone for Source," said Philip Keller, co-founder and CEO. "As we transition from stealth, we're excited to demonstrate our capabilities to the entire space industry. It's a privilege to have Impulse Space as a customer that was willing to power their first spacecraft using Source solar panels. Their trust in Source as a supplier for their Mira spacecraft speaks volumes. We are dedicated to being the most dependable supplier in the industry, and we're thrilled to support Impulse and their vision for this market.”  

"We are very pleased with the customer service from Source. They supported our team with a reliable product that met our aggressive mission timeline." said Carl Haken, director of avionics at Impulse Space. "Their commitment to Impulse and their responsiveness was an important part of the LEO Express-1 mission, which had unrivaled success for a debut OTV vehicle."

In the lead-up to the company’s market debut, Source Energy secured $6.5 million in June 2023 as part of its Seed funding round. Led by Alpine Space Ventures, the funding enabled the company to expand its product family, grow with its customer base, and address additional market segments. The company also announced that Bulent Altan, Founding Partner at Alpine Space Ventures and former VP Avionics at SpaceX, joined Source Energy’s Board of Directors. To date, Source Energy has delivered primary power solutions to five different spacecraft manufacturers, two of which have flown in space. As a result, Source Energy’s ability to rapidly gain flight heritage establishes a benchmark that goes beyond traditional manufacturing and product methodologies. 

"At Source Energy, we believe energy is key to unlocking space exploration's potential,” said Bryan Mazor, co-founder and chief operations officer of Source Energy. “My experience at SpaceX, delivering critical solar arrays for Crew Dragon and Starlink missions, taught me the importance of innovation and reliability in space technology. I'm excited to bring this entrepreneurial spirit to Source Energy customers, as we power the future of space missions."

Keller added, “with Alpine Space Venture’s support and Bulent’s expertise, we are confidently backed in our ability to drive innovation and enable power-rich spacecraft, addressing a critical need in the industry.”

The company also announced its participation in its first public showing at Space Tech Expo USA, highlighting its innovative approach to powering spacecraft builders. Attendees can visit the company at Booth 3000 and hear co-founder and COO Bryan Mazor on the panel “Breaking Silos: Leveraging Cross-industry Relations and Skillsets for Innovation in Space” on Wednesday, May 15. Source Energy’s participation in the conference underscores its commitment to driving innovation and providing energy abundance to all space builders. 

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Figure 1. Image of 3.1 kW deployable solar array undergoing deployment testing at Source’s Longmont, CO facility.

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Figure 2. Vibration testing of stowed, two panel, deployable solar array.

About Source Energy

At Source Energy, we go beyond being a space power provider; we embody dependable energy solutions for spacecraft and satellites. With combined experience of more than 100 years, our team’s commitment is deeply rooted in infusing reliability and quality assurance into the core of our product excellence. Guided by principles of transparency, innovative solutions, and cost-effectiveness, we ensure that our customers embark on their missions with unparalleled confidence. As pioneers in the space sector, our proven expertise allows us to deliver viable solutions that surpass expectations. Providing value is not just a principle we uphold; it's a distinctive standard at Source Energy, making us the trusted ally for all space builders. Learn more at https://www.source.space/

About Impulse Space

Impulse Space, the in-space transportation company founded by Tom Mueller, is opening access beyond Low Earth Orbit (LEO) with its fleet of in-space transportation vehicles. The flight-proven Mira vehicle uses a nontoxic, high-impulse chemical propulsion system to offer orbital transport, constellation deployment, and precision reentry services to customers throughout LEO. The high-energy Helios vehicle unlocks orbits beyond LEO with its powerful Deneb engine, dropping off payloads in MEO, GEO, heliocentric, lunar, and other planetary orbits. Led by a team that delivered the most reliable rockets in history, Impulse provides economical and efficient in-space transportation by reliably and rapidly getting customers where they want to go. For more information, visit www.impulsespace.com.

About Alpine Space Ventures

Alpine Space Ventures is a venture capital fund dedicated to early-stage investments in the space sector. With a fund team that boasts more than 50 years of experience in building products and companies in the space industry, more than EUR 150 million assets under management, and a targeted portfolio of no more than 15 companies in its first fund, Alpine Space Ventures is set as major force empowering a carefully chosen team of startups to provide key space-enabled capabilities. More info: www.alpinespace.vc

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