Phase Four Finds $26M For Satellite Thrusters

El Segundo-based Phase Four, a space startup which is creating satellite thrusters which use radio-frequencies for propulsion, said it has raised $26M in a Series B funding round. The funding was led by New Science Ventures. Phase Four says it is developing Maxwell plasma propulsion engines, which are designed to steer satellites in space. The company says its technology has been launched on multiple, commercial small satellites. the company also said it is working with the u.S. Air Force to adapt its Maxwell engine to use iodine as an alternative fuel. Phase Four is led by CEO Beau Jarvis.