Specter Aerospace Receives $9.5 Million in Funding from the Department of Defense (DoD) and Investment Firms, CS Ventures and Mandala Ventures

Advanced Combustion Technology Expected to Propel Hypersonic Ambitions

MIDDLETON, Mass., June 13, 2023 /PRNewswire/ -- Specter Aerospace, a Boston area defense contractor, specializing in the field of plasma-assisted combustion and hypersonic propulsion, announced that it had secured over $9.5 million in previously undisclosed venture and government funding today. The funding comes from various defense contracts awarded by the DoD and equity investments from CS Ventures and Mandala Ventures.

Specter Aerospace is committed to enhancing engine operating limits and performance across the energy, aerospace and national security sectors. Recognizing the need for innovation in hypersonic flight platforms, the company has made the development and commercialization of these ground-breaking technologies an immediate priority. Specter is breaking the mold of a defense contractor; bringing rapid innovation alongside efficiency and scale. By focusing primarily on hypersonic propulsion, Specter Aerospace aims to better connect societies and to protect global democracy by leveling the playing field with American adversaries.

"Specter Aerospace is revolutionizing engine efficiency, stability, and power while decreasing environmental impact and cost," said Felipe Gomez del Campo, CEO of Specter Aerospace. "Our rigorously tested plasma-assisted combustion technology has already shown that our defense customers can go farther and faster on less fuel and thanks to these crucial investments and with existing contracts with the DoD, we expect to fly our first hypersonic demonstrator within two years."

This funding allows Specter to develop and implement its technologies in both new and existing engines. The commercialization of this technology will revolutionize the energy, aerospace, and national security industries.

"CS Venture Opportunities Fund is delighted to partner with Specter Aerospace, Mandala Space Ventures and Kairos Ventures with this investment," said Quinten Stevens, General Partner. "We invest in transformative technologies and believe the company's plasma-assisted combustion technology is world-class. Plasma-assisted combustion is a critical component in hypersonic engines and Specter Aerospace's technology is both strategically and vitally important to the United States in its development of hypersonic engines."

About Specter Aerospace

Founded in 2013, Specter Aerospace, formally FGC Plasma Solutions, develops advanced propulsion technologies with the aim to connect and protect at hypersonic speeds while also saving fuel across commercial applications. Specter's patented Plasma-Assisted Combustion platform, developed with support from the Argonne National Laboratory, utilizes plasma injection to stabilize combustion in high-output hypersonic, jet and rocket engines offering reduced emissions and fuel consumption. The Boston-area firm is working with the Department of Defense and commercial clients to deploy the technology in early 2024.

About CS Venture Opportunities Fund, L.P.

CS Venture Opportunities Fund, L.P. was founded by Russell Carson, founder of the highly successful private equity firm Welsh, Carson, Anderson & Stowe, and Quinten Stevens in March 2022. The fund is focused on U.S.-based early-stage venture capital investing. The strategy is to invest in compelling, transformative, and potentially disruptive technologies sourced from brilliant scientists, at top US research universities. Investments are made across a range of industries including advanced medical, industrial and defense technologies, life sciences, and software.

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SOURCE Specter Aerospace