Solestial Secures $17M Sequence A to Speed up Area Photo voltaic Manufacturing
by Clarence Oxford
Los Angeles CA (SPX) Could 19, 2025
Solestial has closed a $17 million Sequence A funding spherical led by AE Ventures, with participation from Crosscut Ventures, Zeon Ventures, and Mitsubishi Electrical Company’s ME Innovation Fund, managed by World Mind Company. Returning traders embody Airbus Ventures, Common Function Enterprise Capital, Industrious Ventures, Stellar Ventures, and Techstars.
The funding will allow Solestial to increase its manufacturing capability to 1 megawatt per 12 months, roughly matching the mixed manufacturing functionality of all U.S. and EU III-V area photo voltaic producers.
The corporate additionally introduced a management transition, naming Margo de Naray as Chief Govt Officer. De Naray, beforehand Senior VP and GM of Area Merchandise and Companies at Astra, brings 20 years of expertise in business area expertise. Founder Stanislau Herasimenka will transition to Chief Expertise Officer, specializing in advancing Solestial’s product roadmap.
“We’re thrilled to welcome Margo to steer Solestial into its subsequent chapter,” mentioned Herasimenka. “This transition permits me to proceed creating our cutting-edge expertise, whereas Margo brings extra strategic management and operational expertise to ship at scale.”
De Naray famous the robust market demand for Solestial’s expertise, which is already deployed on a number of area missions. “We’re hiring, scaling manufacturing, and qualifying our expertise to satisfy the rising wants of our prospects,” she mentioned.
AE Ventures Associate Beckett Jackson highlighted Solestial’s position in addressing the vital bottleneck in area photo voltaic manufacturing. “Solestial is uniquely positioned to serve spacecraft producers with mass manufacturing of light-weight, radiation-hardened options at decrease prices and shorter lead instances,” Jackson mentioned.
Solestial’s self-healing photovoltaic expertise, which reduces prices and weight with out sacrificing efficiency, units it aside within the trade. Airbus Ventures Associate Mat Costes expressed confidence within the firm’s management and market positioning, noting that Solestial is ready to satisfy accelerating demand.
Mitsubishi Electrical Company’s Komi Matsubara, a long-time collaborator, additionally bolstered the potential of Solestial’s improvements, signaling robust trade assist for the corporate’s development.
Since opening its Tempe, Arizona facility in 2023, Solestial has doubled its workforce, expanded manufacturing area, and delivered merchandise to quite a few business companions.
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