Frontier collects $10 million from AEI HorizonX
ALTA, Utah — Frontier Aerospace lifted $10 million in Collection A funding from AEI HorizonX, the undertaking money fund formed by AE Industrial Parters and Boeing.
“This latest funding spherical will accelerate Frontier’s motor growth actions, aid key enlargement of production and vacuum examination facilities,” Frontier Aerospace president Jim McKinnon said in a statement. “In the previous, examination facility availability has been by far the biggest agenda driver. With this new expenditure, a modern day examination facility will be totally produced for fast implementation supporting major future growth plans.”
House propulsion startup Frontier Aerospace, a successor to Frontier Engineering, was started in Simi Valley, California, in 2014. In 2021, AE Industrial Companions subsidiary American Pacific Corp. introduced a multimillion-greenback expense in Frontier Aerospace. The phrases of the offer had been not disclosed.
Frontier is providing thrusters for the Astrobotic Peregrine and Griffin Lunar Landers. In addition, Frontier is acquiring and tests “a assortment of thrust courses for NASA and federal government primes, for missions ranging from deep area exploration to commercial place and defense,” in accordance to the March 21 news release.
“We are happy to help Frontier in its upcoming phase of advancement as it grows to meet up with the robust demand from NASA, industrial aerospace and defense businesses for point out-of-the-art propulsion remedies,” Brian Schettler, who sales opportunities AEI HorizonX. “AEI HorizonX seems to be ahead to partnering with the Frontier staff to take edge of the new options made by improved investments and innovation in the new area economy.”
Boeing’s corporate enterprise cash arm, AEI HorizonX, was founded in 2017. Non-public fairness firm AE Industrial Companions manages AEI HorizonX, which has $5 billion in assets beneath administration. AEI HorizonX focuses largely on aerospace, defense and government expert services, room, electrical power and utility solutions, and specialty industrial marketplaces.