As per the trusted reports, Astra, a launch vehicle developer company, is planning to acquire Apollo Fusion, a company that develops an electric propulsion system for the spacecraft. It is an effort to create vertically integrated space systems over the coming years.
As stated by reliable sources, the contract states finances of USD 30 million in stock and US 20 million in cash for acquiring Apollo Fusion, in its announcement on 7th June 2021. Further, if Apollo reaches certain technical, financial, and revenue milestones, the company must be incentivized by another USD 95 million to earn out incentives.
He further noted that this acquisition is about adding a really core piece of technology to the platform generated by Astra. Kemp also said that this would open up a new level of customer opportunities for the company.Further, Kemp said that the next thing of their focus is the vertically integrated spacecraft. He stated that Apollo’s engine is one of the keys to the space platform that they have been building.