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Accion Systems sold a majority stake of the company to private equity for $42,000,000.
Accion Systems and Benchmark Space Systems had their first thrusters reach orbit on 2021-06-30 on satellites launched as rideshares on the SpaceX Transporter-2 flight.
As of 2021-08-06, Accion planned to begin in-orbit testing operations of TILE thrusters in about 10 days.
The XLEO satellite equipped with Accion thrusters is expected to carry commercial Earth-observation instruments for operational applications.
Accion Systems plans to supply miniature ion thrusters for Xplore Inc.’s 150-kilogram LEO Xcraft (XLEO) satellite scheduled to launch in 2023 under an agreement announced on 2021-08-10.
Accion TILE thrusters have flown on cubesats including the NanoAvionics D2/Atlacom-1 and OQ Technology’s Tiger-2 cubesat launched 2021-06-30 on the SpaceX Transporter-2 rideshare flight.
Accion Systems raised an $11,000,000 Series B round in 2020 co-led by Boeing HorizonX Ventures and Shasta Ventures.
Accion Systems planned to launch four TILE systems in 2021 and two additional TILE systems in early 2022.
Accion Systems raised $42,000,000 in Series C funding led by an affiliate of Tracker Capital Management, LLC.
Boeing HorizonX Ventures and Shasta Ventures also participated in Accion Systems’ $7,500,000 Series A in 2016.
Tracker Capital acquired a 51% stake in Accion Systems after leading a $42,000,000 funding round.
Accion Systems’ flagship product, TILE, uses proprietary electrospray thrusters to provide electric propulsion for satellites of all sizes.
Accion Systems’ Series C funding round values the company at $83,500,000.
The five payloads on the NanoAvionics 6U D2/AtlaCom-1 nanosatellite are Dragonfly Aerospace’s Mantis hyperspectral imager, CubeCom’s high-gain XANT4 X‑Band antenna and an upgraded XTX X‑band downlink transmitter, CubeSpace’s CubeStar Star Tracker, and Accion Systems’ TILE Thruster.
Accion Systems is providing an electric propulsion demonstration on the D2 / Atlacom-1 mission.
Starfish will test its Cephalopod RPOD software later this summer on a TILE 2 electric propulsion thruster from Accion Systems that is also on the condosat.
Accion Systems will launch two TILE 2 in-space propulsion system units onboard an Astro Digital smallsat on the June 2021 SpaceX Falcon 9 rideshare launch.
The demonstration will combine Starfish Space’s CEPHALOPOD software and Accion Systems’ TILE 2 thrusters to perform rendezvous and proximity operations trajectories using low-thrust electric propulsion.
Accion Systems’ flagship product, TILE, uses proprietary ion electrospray thrusters to provide electric propulsion to satellites of all sizes.
Accion Systems raised an $11,000,000 Series B round led by Boeing HorizonX Ventures and Shasta Ventures.