IRVINE, Calif., March 23, 2020 /PRNewswire/ -- Earlier this month, NASA announced that it selected Tyvak Nano-Satellite Systems to join an elite list of private-sector space technology firms that are eligible to bid on contracts for NASA's Artemis Program, which aims to bring astronauts to the moon by 2024. Tyvak offers an innovative, end-to-end commercial payload delivery infrastructure that has the capability to bring cargo and astronauts to the moon to facilitate lunar science experiments.
Tyvak will participate in NASA's Commercial Payload Services (CLPS) initiative, a unique program that leverages private sector expertise to meet the Artemis Program's ambitious goals.
Spectrum Business Ventures was an early investor in Tyvak and its parent company, Terran Orbital.
"It's such a privilege to be able to be a part of a program like this," said Amit Raizada, CEO of Spectrum Business Ventures. "Tyvak is in a unique position to both develop innovative technologies and help write the next chapter in our country's storied space program. At SBV, we always seek to invest in cutting edge technology, even if the market for that product hasn't developed yet, and we are excited to see this project come to fruition."
Tyvak was one of 14 firms chosen by NASA to participate in the CLPS, which was first announced in November 2018. NASA will award CLPS contracts to vendors after comparing technical feasibility and price.
About Tyvak Nano-Satellite Systems, Inc., a Terran Orbital corporation:
Founded in 2013 and headquartered in Irvine, California, Tyvak Nano-Satellite Systems, Inc. is an industry leader, delivering optimized, end-to-end nano- and microsatellite solutions. Trusted by civil, defense and commercial organizations, the Company leverages expertise, low-cost operating infrastructure, and the limitless opportunities of satellite miniaturization to achieve timely and economical mission success. Through its global ground station network, Tyvak provides worldwide coverage for on-orbit operations around the clock. For more information, please visit https://www.tyvak.com/
About Amit Raizada: Amit Raizada is an entrepreneur, philanthropist, and the CEO of Spectrum Business Ventures, an investment firm that holds equity in a wide range of companies in fields from medical technology to consumer entertainment.
SOURCE Spectrum Business Ventures