Benchmark Space Systems to Expand Internationally
Vermont’s own Benchmark Space Systems has announced their plans to expand globally, opening a new location in England. While growing internationally, the company intends to continue to grow its business in Vermont.
The company makes products that propel small satellites in space using hydrogen peroxide. This solution provides a cleaner satellite propellant as compared to industry alternatives. They intend to develop solutions that target pain points in propulsion systems. While their non-toxic propellants tackle a major pain point, the company has also tackled thrusters, propellant tanks, modular control electronics, and intelligent GNC integration frameworks. Combined, they have developed a plug-and-play solution customizable to mission objectives.
The new location will support the scale up of their manufacturing in order to meet industry demand. Along with this new location, the company has signed a contract with UK startup Space Forge and plans to add more to the list.
“We’re engaged with a handful of companies, nothing that I can announce officially today,” he said. “But we do have some new contracts that will be coming up here shortly that hopefully we’ll be able to announce by the end of the summer.”
The company has experienced rapid growth since their founding in 2017. In 2021, the company built three propulsion systems. They are on track to build 7 in 2022 and expect to build 80 in 2023. While the international expansion will help with this, the company is also doubling the space of their Vermont operations.
Benchmark has also had support from the federal level. In the past three years, the company has received over $2.8 million in federal contracts and grants from both NASA and the Department of Defense, as well as a $200,000 loan from the Paycheck Protection Loan Program (PPP) in April 2020.
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