Accion Systems Secures $42M Series C Funding for Advanced Propulsion

Accion Systems Secures $42 Million in Series C Funding

Accion Systems, a developer specializing in space propulsion, has successfully completed its largest funding round to date. The company garnered $42 million in a Series C investment, spearheaded by Tracker Capital, resulting in a company valuation of $83.5 million.

Majority Stake Acquisition and Future Development

Concurrent with the investment, Tracker Capital has obtained a majority ownership position within Accion Systems. This new capital infusion is earmarked to accelerate the development and production of the company’s next-generation propulsion technology, known as the tiled ionic liquid electrospray (TILE) system.

Understanding the TILE Propulsion System

The TILE system utilizes electrical power to expel charged particles – ions – from its rear, thereby creating thrust. While ion propulsion isn't new, Accion distinguishes itself by employing a liquid propellant, specifically an ionic liquid salt, in place of gaseous alternatives.

This liquid propellant is both inert and unpressurized, eliminating the potential for explosive hazards. Furthermore, it allows for a design that bypasses the need for large, complex components like ionization chambers, leading to a more compact and lightweight system – a critical advantage in space applications where payload weight is a significant cost factor.

Miniaturization and Scalability

“This approach enables us to construct remarkably small systems,” explained Natalya Bailey, co-founder of Accion, in an interview with TechCrunch. “Rather than attempting to reduce the size of conventional ion engines, we can begin with inherently small designs due to the properties of this propellant.” Each individual thruster tile, for instance, is comparable in size to a standard postage stamp.

Peter Kant, CEO of Accion, highlighted the system’s scalability and modularity in a recent TechCrunch discussion. He stated that the TILE system is adaptable for use across a wide range of spacecraft, from small CubeSats to large interplanetary probes. “The potential market and the market we can realistically serve are remarkably aligned,” he noted.

Increased Thrust Through Emitter Density

The latest iteration of the TILE system maintains the same physical dimensions as previous versions. However, Accion is significantly increasing the number of emitters – the components responsible for expelling ions and generating thrust – on each chip, by nearly a factor of ten.

“This increase in emitter density allows us to generate substantially more thrust from the same amount of space,” Kant clarified.

Timeline for Fourth-Generation System Delivery

Accion anticipates commencing shipments of the first fourth-generation TILE thruster systems in mid-to-late summer of 2022.

Origins and Manufacturing

The TILE system was initially conceived by Natalya Bailey and Louis Perna during their time at the Massachusetts Institute of Technology. Despite considerable interest from established aerospace firms, they chose to establish Accion in 2014 to independently develop and commercialize the technology.

The company’s manufacturing and assembly operations are based at its facility in Charlestown, Massachusetts.

Recent Spaceflight Validation

The TILE system has already been deployed on commercial spacecraft, including missions operated by Astra Digital and NanoAvionics, which were launched aboard SpaceX’s Transporter-2 mission in late June.

While initially focusing on smaller spacecraft like CubeSats, Bailey indicated that this represents only the first phase of their strategy.

Future Expansion and Applications

“Our initial focus is on this segment, with the intention of leveraging the insights gained to develop larger systems capable of supporting geostationary satellites and interplanetary missions,” Bailey stated. “The systems deployed on the recent launch are suitable for satellites weighing up to approximately 50 kilograms. This represents the lower end of our intended operational range.”