ALBUQUERQUE, NM — June 16, 2025 — New Mexico Aerospace Ventures announced today it has closed a $22 million Series B funding round, led by Frontier Space Capital with participation from existing investors Sandia Ventures and Rio Grande Technology Fund. The capital infusion marks one of the largest aerospace technology investments in New Mexico's history. The company plans to deploy the funding toward expanding its proprietary low-thrust propulsion systems designed for small satellites operating in low Earth orbit. New Mexico Aerospace Ventures said the technology reduces fuel consumption by up to 40% compared to conventional systems, extending satellite operational lifespans and lowering mission costs for commercial and government clients. "This investment validates what our engineering team has been building for the past four years," said CEO Maria Castellano. "We are positioned to meet surging global demand for efficient, scalable satellite infrastructure, and this funding allows us to move from prototype to full production." The company expects to use a portion of the proceeds to grow its Albuquerque workforce from 47 to approximately 120 employees by the end of 2026, creating high-skilled engineering and manufacturing jobs across the region. New Mexico Aerospace Ventures also confirmed it has signed preliminary agreements with two undisclosed commercial satellite operators anticipated to generate $15 million in combined contract value. **About New Mexico Aerospace Ventures:** Founded in 2021 and headquartered in Albuquerque, New Mexico Aerospace Ventures develops next-generation propulsion systems for small satellite applications. The company partners with commercial operators, federal agencies, and research institutions to advance affordable and sustainable space access. Learn more at nmav.com. ---