US rocket propulsion start-up Ursa Major said on Tuesday it was awarded a $12.5m (R220.3m) contract for building and testing new solid fuel rocket engines.
The award, though small, is part of a bigger effort by the Pentagon to increase the number of rocket makers as stockpiles dwindle from supplying Ukraine and Israel in their wars.
The agreement contains some of the first funds distributed from the Pentagon's office of strategic capital which are meant to seed investment in the defence industrial base's supply chain. The navy is also contributing to the $12.5m award being matched by Ursa Major, culminating in a $25m (R440.6m) expansion of the company's solid rocket motor capabilities.
The investment will support Ursa Major's efforts to enhance its solid rocket motor manufacturing process under the office of strategic capital's transition acceleration programme which aims to fund development of future defence products.
Separately, the navy awarded a contract earlier this year to address surging demand for the M104 engine which is used in RTX Corp's standard missile family of missiles.
Ursa Major's contribution to the investment will be directed towards completing an advanced manufacturing pathfinder programme which includes the design, manufacture and testing of a solid rocket motor prototype. Tuesday's award is significant because it is one of the first from the office of strategic capital, a fund which was established to boost public-private investments in critical technology areas for national security.
Reuters
Pentagon awards rocket motor maker Ursa Major $12.5m
Image: Reuters/Amir Cohen
US rocket propulsion start-up Ursa Major said on Tuesday it was awarded a $12.5m (R220.3m) contract for building and testing new solid fuel rocket engines.
The award, though small, is part of a bigger effort by the Pentagon to increase the number of rocket makers as stockpiles dwindle from supplying Ukraine and Israel in their wars.
The agreement contains some of the first funds distributed from the Pentagon's office of strategic capital which are meant to seed investment in the defence industrial base's supply chain. The navy is also contributing to the $12.5m award being matched by Ursa Major, culminating in a $25m (R440.6m) expansion of the company's solid rocket motor capabilities.
The investment will support Ursa Major's efforts to enhance its solid rocket motor manufacturing process under the office of strategic capital's transition acceleration programme which aims to fund development of future defence products.
Separately, the navy awarded a contract earlier this year to address surging demand for the M104 engine which is used in RTX Corp's standard missile family of missiles.
Ursa Major's contribution to the investment will be directed towards completing an advanced manufacturing pathfinder programme which includes the design, manufacture and testing of a solid rocket motor prototype. Tuesday's award is significant because it is one of the first from the office of strategic capital, a fund which was established to boost public-private investments in critical technology areas for national security.
Reuters
MORE:
US officials question if easing Ukraine weapons restrictions would pay off
US says Russia received missiles from Iran, piles on sanctions
US to send more warships, fighter jets to Middle East to bolster defences
Pentagon leaker Jack Teixeira to face trial by court-martial
EXCLUSIVE | US has sent Israel thousands of 2,000-pound bombs since October 7
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
News and promos in your inbox
subscribeMost read
Latest Videos