Melbourne-based Firehawk Aerospace is considering a headquarters move to North Texas.
Article by Ryan Salchert Dallas Business Journal Firehawk Aerospace is in the market for a new headquarters and is looking to land somewhere in Texas, the Florida-based rocket manufacturer's CEO Will Edwards told the Dallas Business Journal Wednesday.
Edwards says the Melbourne-based company is evaluating research and development sites that could accommodate a footprint of up to 45,000 square feet. The company's new facility would require a combination of warehouse and office space. He did not specify where in North Texas the company is looking. "On top of Texas being a great state to do business in, the access to capital and talent in Dallas is what really pushed us to make our decision," said Edwards.
"We've built strong relationships with a few incredible investors in Dallas and are excited about the potential of growing our footprint in the area."
Firehawk Aerospace is a veteran-owned manufacturer of high-performance hybrid rocket engines. The company's Armstrong 25k rocket engine produces 25,000 pound-force of thrust, can be custom designed in four to six months, has only 12 parts, costs 20% of other high performance engines, and does not detonate. Firehawk has 12 employees but expects to hire 20 to 30 more in 2021.
The company recently closed a $2 million funding round led by members of Oklahoma City-based Victorum Capital along with investments from Michigan-based Achieve Capital and Dallas-based Harlow Capital Management.