Space Solar Products Company Solestial Bags $17 Million Series A, Brings in New CEO
- May 16
- 1 min read
Co-Founded by Stan Herasimenka(Founding CEO & current CTO) & Mikhail Reginevich(Chief Engineer, Tooling & R&D), Solestial, the company known for developing ultra thin, low cost - light weight solar power products for space use has raised $17 Milliom Series A led by AE Ventures and seen participation from Crosscut Ventures, Zeon Ventures, and Mitsubishi Electric Corporation’s ME Innovation Fund (general partner: Global Brain Corporation), with participation from existing investors Airbus Ventures, General Purpose Venture Capital, Industrious Ventures, Stellar Ventures, and Techstars. The company plans to use these funds to scale its manufacturing capacity of silicon photovoltaics to 1 megawatt per year.
The company has also announced Margo de Naray as its new CEO. De Naray has served as a senior VP & GM of Space Products & Services at Astra. The founding CEO, Stan Herasimenka will assume the role of the CTO to further advance the technology.
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