Veteran Ventures Makes Fourth Strategic Investment in Phase Four

Veteran Ventures Capital's ("Veteran Ventures") Veteran Fund I is proud to announce its fourth investment into Phase Four, Inc. ("Phase Four"). Phase Four designs and manufactures cutting-edge plasma-based satellite propulsion systems, providing both commercial and government aerospace and defense clients greater system reliability and flexibility. Veteran Ventures' management team is especially excited about Phase Four's recent strides in developing two ground-breaking propulsion designs that have unique and specific national security use cases. With this additional investment, Veteran Ventures joins Phase Four's Board of Directors.

"We are impressed with Phase Four's traction in both commercial and national security markets, which fits Veteran Ventures' dual-use technology thesis perfectly," explained Steve Kiser, PhD, Veteran Ventures General Partner and new Phase Four board member. "Their technology stack and propulsion product lines are aligned with where their client segments are moving for future satellite propulsion needs. As the U.S. expands its proliferated low-earth orbit constellations and makes greater use of the cis-lunar regime, Phase Four will be leading the way to ensure all on-orbit systems have resilient, advanced maneuvering capabilities that do not rely on outdated legacy technologies nor rely on vulnerable foreign supply chains. They are making 'maneuver without regret' a reality."

"We are proud of our partnership with Veteran Ventures," remarked Beau Jarvis, CEO of Phase Four. "Their experience in working on critical national security issues within government channels and willingness to work closely with us is refreshing, and we expect more good things to come."

"It is no secret that the demand for satellite propulsion is large and growing rapidly this decade," Kiser continued. "Having an established provider of reliable, fuel-agnostic satellite propulsion systems is the key to serving the large volume of satellites being launched into orbit over the next several years. We look forward to working with Phase Four as they scale and deliver the next generation of in-space mobility capabilities for commercial and government spacecraft."