Pentagon awards rocket motor maker Ursa Major $12.5 million

17/9/2024 12:55

        U.S. rocket propulsion startup Ursa Major said on Tuesday it was awarded a $12.5 million contract to build out production and testing for new solid fuel rocket engines.
        
        The award, though small, is part of a bigger effort by the Pentagon to increase the number of rocket makers as stockpiles dwindle from supplying Ukraine and Israel in their ongoing wars.
        
        The agreement contains some of the first funds distributed from the Pentagon's Office of Strategic Capital which are meant to seed investment in the defense industrial base's supply chain. The Navy is also contributing to the $12.5 million award that is being matched by Ursa Major, culminating in a $25 million expansion of the company's solid rocket motor capabilities.
        
        The investment will support Ursa Major's efforts to enhance its solid rocket motor manufacturing process under the Office of Strategic Capital's Transition Acceleration Program, which aims to fund development of future defense products.