Airbus Ventures Leads Solestial’s Oversubscribed $10M Seed Round

Solestial’s solar panels can be produced at scale using automated production methods at 90 percent lower cost than solar panels widely used by the satellite industry.

This best-in-class silicon photovoltaic technology, optimized for space, also delivers orbital reliability of at least 10 years in low Earth orbit (LEO).

Economical solar panels with scalable manufacturing capability are critical to meeting the demand of the satellite industry, which is projected to grow from 5,000 operational satellites to 100,000 or more by 2030, a 40% CAGR.

“We’re on a mission to become the solar energy company for space, and this capital will help us dramatically accelerate delivery of our breakthrough technology at scale,” said Stanislau Herasimenka, co-founder and CEO of Solestial. “We deeply and humbly appreciate the vote of confidence from each of the investors in this extremely strong syndicate led by Airbus Ventures, and we couldn’t be more excited to roll up our sleeves and get to work on this important next phase.”

“We are at a new inflection point for the aerospace and the energy industries,” said Mat Costes, Partner at Airbus Ventures. “We’re excited to welcome the team at Solestial into our vibrant community of entrepreneurs working to advance breakthrough technologies to help solve critical, near-term planetary challenges. From the start of our diligence process, we were instantly impressed by Solestial’s solar cell technology, and we're proud to be leading this impressive syndicate on a mission to help deliver advanced, lightweight, cost-effective solutions that power the new space economy,” Costes said.