Galactic Energy Raises $200 Million to Continue Development of Reusable Pallas-1 Launch Vehicle

Ceres-1 booster (Credit: Galactic Energy)

Translated from Chinese by Google Translate

BEIJING (Galactic Energy PR) — From July to December 2021, Galactic Energy (Beijing) Space Technology Co., Ltd. completed B and B+ rounds of financing totaling 1.27 billion yuan [$200.6 million]. This round of financing was led by Dongfang Fuhai and Huaqiang Capital, AVIC Aviation Finance, China Military Financial Investment, Anhui Jiangnan Construction Investment, Chengdu New Economy Fund, Zhongtian Huifu, Yunding Capital, Tianhong Investment, Maiqiu Venture Capital, Hexin Fangce, Jiusong Heze, Tianqiong Xuanji, Zhidao Capital, Taicang Hongli, Haiyang Ruiming, Looking Up at the Starry Sky, Bright Starry Sky, and old shareholders Meihua New Potential Energy Fund, Yuanhang Capital, etc. joined the investment. We would like to express our sincere thanks to the new and old shareholders for their trust and support.

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