ETFOptimize | High-performance ETF-based Investment Strategies

Quantitative strategies, Wall Street-caliber research, and insightful market analysis since 1998.


ETFOptimize | HOME
Close Window

DoD's National Security Innovation Capital Awards $1.5M to New Frontier Aerospace to Expand Hypersonic Engine Development

By: PRLog

SEATTLE - Feb. 21, 2023 - PRLog -- National Security Innovation Capital (NSIC) has awarded a $1.5M contract extension to New Frontier Aerospace (NFA) to complete the development of NFA's revolutionary 3D printed Mjölnir rocket engine.

The extension is the next step after NFA's successful delivery of Mjölnir's first component, developed under an initial $750K contract awarded in August of 2021.

"Based on NFA's performance in designing, 3D printing and testing the first, key component of the Mjölnir full-flow staged combustion engine in less than a year, we are pleased NSIC sees the enormous potential in the continued development and completion of Mjölnir," NFA CEO Bill Bruner said.

The Mjölnir rocket engine's advanced architecture represents a revolutionary new class of rocket engine with the reliability and operability of today's aircraft engines. Now, with NSIC's support, Mjölnir's remaining components will be designed, printed and tested - with a hot fire of the completed engine by May of 2024.

The development of the Mjölnir rocket engine serves as the initial stage of NFA's overall plan to build a hypersonic aircraft for delivering passengers and cargo safely to any airport or vertiport on Earth in less than two hours.

NFA's 3D printed, Mjölnir-powered hypersonic aircraft will be fueled with renewably sourced liquid natural gas, with net negative greenhouse gas emissions.

About NFA:

With offices in Seattle (WA), San Francisco (CA) and Dayton (OH), NFA is an aerospace technology company, building renewably fueled hypersonic vertical landing aircraft to deliver passengers and cargo anywhere on Earth in less than two hours - faster and cleaner than jets. Website: https://www.nfaero.com/

About NSIC:

Housed within the Defense Innovation Unit (DIU), National Security Innovation Capital (NSIC) is a Department of Defense (DoD) program that provides funding to early-stage hardware startups commercializing dual-use technologies critical to US national security and economic competitiveness. NSIC enables such startups to advance key milestones in their product development plans by addressing the shortfall of private investment from trusted sources. Website: https://www.nsic.mil/

Contact
Jim Bono
***@nfaero.com

Photos: (Click photo to enlarge)

New Frontier Aerospace Logo Mjölnir - Full Flow Staged Combustion Engine

Read Full Story - DoD's National Security Innovation Capital Awards $1.5M to New Frontier Aerospace to Expand Hypersonic Engine Development | More news from this source

Press release distribution by PRLog

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.


 

IntelligentValue Home
Close Window

DISCLAIMER

All content herein is issued solely for informational purposes and is not to be construed as an offer to sell or the solicitation of an offer to buy, nor should it be interpreted as a recommendation to buy, hold or sell (short or otherwise) any security.  All opinions, analyses, and information included herein are based on sources believed to be reliable, but no representation or warranty of any kind, expressed or implied, is made including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. We undertake no obligation to update such opinions, analysis or information. You should independently verify all information contained on this website. Some information is based on analysis of past performance or hypothetical performance results, which have inherent limitations. We make no representation that any particular equity or strategy will or is likely to achieve profits or losses similar to those shown. Shareholders, employees, writers, contractors, and affiliates associated with ETFOptimize.com may have ownership positions in the securities that are mentioned. If you are not sure if ETFs, algorithmic investing, or a particular investment is right for you, you are urged to consult with a Registered Investment Advisor (RIA). Neither this website nor anyone associated with producing its content are Registered Investment Advisors, and no attempt is made herein to substitute for personalized, professional investment advice. Neither ETFOptimize.com, Global Alpha Investments, Inc., nor its employees, service providers, associates, or affiliates are responsible for any investment losses you may incur as a result of using the information provided herein. Remember that past investment returns may not be indicative of future returns.

Copyright © 1998-2017 ETFOptimize.com, a publication of Optimized Investments, Inc. All rights reserved.