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Commerce

RocketLab to Receive $23.9M from CHIPS and Science Act

The investment would increase RocketLab's semiconductor production by 50 percent.

Teralyn Whipple

Teralyn Whipple

— 2 min read
RocketLab to Receive $23.9M from CHIPS and Science Act
Photo of Under Secretary of Commerce for Standards and Technology Laurie Locascio

June 11, 2024 - The Biden Administration announced Tuesday that the Department of Commerce and RocketLab signed a preliminary memorandum of terms that would provide up to $23.9 million in funding through the CHIPS and Science Act.

Rocket Lab, aerospace manufacturer and launch service provider, will use the money to create a more “robust and resilient supply of space-grade solar cells that power spacecrafts and satellites.” The company owns the space power provider SolAero Technologies.

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Commerce Gina Raimondo RocketLab SolAero Laurie Locascio

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