Chinese Firm Deep Blue Aerospace Secures Nearly $31.5M in A-Round Financing
Jiangsu Deep Blue Aerospace Technology Co., Ltd., a high-tech commercial aerospace enterprise providing commercial launch services, on Tuesday completed an A round of financing worth nearly 200 million yuan ($31.5 million). The round was led by Zhencheng Capital, along with investment from institutions including DT Capital Partners, Galaxy Capital and ZY Capital. Deep Blue Aerospace is currently the only rocket company in China that can realize the recovery and reuse of liquid oxygen kerosene rocket vertical takeoff and landing.
The funds raised in this round will be mainly used for the development of Nebula-1 liquid oxygen kerosene rockets, the verification and launch preparation of rocket-related recyclable and reusable technology, and the construction and training of talent. In the future, the company will continue to strengthen the R&D of Nebula-1, Thunder series thrust, 3D printing additive manufacturing process and the test and research of recyclable and reusable capability.
Founded in 2016, Deep Blue Aerospace is headquartered in Nantong City, Jiangsu Province, also operating rocket technology and liquid engine R&D centers in Beijing (Yizhuang) and Xi ‘an, Shaanxi Province, respectively. It has a manufacturing and testing base for a rocket power system in Tongchuan, Shaanxi Province.
The rocket engine manufacturing technology of Deep Blue Aerospace is unique in China, because 85% of the parts contained in the Thunder-5 thrust are made using 3D printing technology.
At the end of July, 2021, Deep Blue Aerospace completed the first free flight of vertical takeoff and vertical landing (VTVL), that is, the vertical recovery flight test of the launch vehicle. In October 2021, the company again successfully completed the vertical recovery test of 100-meter VTVL. A series of breakthroughs have been made in vertical recovery and reuse, which marks the leading position of Deep Blue Aerospace in the technology of liquid oxygen kerosene recoverable and reusable rockets in China.
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