ALBUQUERQUE, N.M., April 26, 2023

X-Bow Systems Announces Selection for $60 million STRATFI Award

NEWS PROVIDED BY X-Bow Systems 

Funding will expand production of solid rocket motors

X-Bow Systems Inc (X-Bow) announced today that the innovation engine for the Department of the Air Force, AFWERX, has selected the company for a Strategic Funding Increase (STRATFI) award. The award secures up to $60 million between government funding, private investment, and matching Small Business Innovation Research (SBIR) funds. The funding will extend X-Bow's previous and existing work with the U.S. Air Force Research Lab (AFRL) at Edwards Air Force Base. The work will focus on rapidly produced, low-cost solid rocket motors (SRMs) using X-Bow's proprietary advanced manufacturing technology and culminate in a flight test series.

"We are thrilled to be selected and funded for this STRATFI award. We further see the award as a strong signal from our U.S. Government partners for the need of X-Bow's solid rocket technology and SRM production capabilities in both the DoD and commercial industry," says X-Bow Systems' Chief Revenue Officer, Maureen Gannon.

X-Bow is a new, non-traditional, small business producer and supplier of SRMs, suborbital and orbital launch services and defense technologies. It further leads the market with patent-pending innovations of Additively Manufactured Solid Propellants (AMSP) for solid rocket motors.

Recent reports have noted a consolidation in the solid rocket motor industry from six to just two domestic manufacturers. This has created significant cost and lead time increases, along with an inability to deliver SRMs in the quantities needed to support industry plans and national defense needs. X-Bow's market entry and STRATFI selection is well timed to fill this domestic manufacturing and national security need.

ABOUT X-BOW SYSTEMS
X-Bow Systems is disrupting the aerospace industry with innovative and cost-effective additively manufactured energetics for the solid rocket motor and launch vehicle market. X-Bow is also designing and building a suite of modular solid rocket motors and small launch vehicles for both orbital and suborbital launch services. X-Bow is led by CEO Jason Hundley, Chairman Mark Kaufman, CTO Max Vozoff, CRO Maureen Gannon, General Counsel John Leary and a growing team of seasoned industry veterans and new space entrepreneurs. Headquartered in Albuquerque, New Mexico, X-Bow has additional presence in California, Alabama, Colorado, Texas, and Washington, DC. X-Bow is actively recruiting talented and determined individuals to join its team. For more information visit www.xbowsystems.com.

SOURCE X-Bow Systems