TEDCO’s Venture Funds Invest $500,000 in Space Phoenix Systems
TEDCO announced a $500,000 investment in Space Phoenix Systems, a Baltimore-based space logistics company developing reusable spacecraft. The company is creating technology to transport, test, and return payloads from low Earth orbit. Its flagship spacecraft, Hermes, is designed for rapid turnaround and repeated missions. The investment will support continued technology development while strengthening Maryland’s growing aerospace and innovation ecosystem.
About TEDCO
TEDCO, the Maryland Technology Development Corporation, enhances economic empowerment growth through the fostering of an inclusive entrepreneurial innovation ecosystem. TEDCO identifies, invests in, and helps grow technology and life science-based companies in Maryland. Learn more at www.tedcomd.com.
Tammi Thomas, President, TEDCO, tthomas@tedcomd.com
Rachael Kalinyak, Associate Director, Marketing & Communications, TEDCO, rkalinyak@tedcomd.com