HomeNewsTechnologyDhruva Space to use $1.6 million funding from TDB for developing satellite solar panels

Dhruva Space to use $1.6 million funding from TDB for developing satellite solar panels

Hyderabad-based Dhruva Space recently raised $9 million from a clutch of investors, including $1.6 million Technology Development Board

April 24, 2024 / 15:33 IST
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Hyderabad-based Dhruva Space will use $1.6 million it got recently as part of a larger investment for developing solar panels for satellites, Department of Science and Technology's Technology Development Board said on April 24.

The board’s investment was part of $9 million that Dhruva secured from a clutch of investors. While the funding figure was announced on April 22, the specific use of the investment had not been disclosed.

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Solar panels convert sunlight into electricity to power a satellite's various systems, including communication equipment, scientific instruments, and propulsion.

"We are excited to support M/s Dhruva Space in their endeavour to develop cutting-edge space-grade solar array technologies. This project perfectly aligns with TDB's mission to promote indigenous innovation and strengthen India's capabilities in domestic production, furthering India's commitment to becoming a global hub for advanced and cost-effective space technologies," TDB secretary Rajesh Kumar Pathak said.