AGILE Space Industries Secures $1.8m, Wins Greater Colorado Pitch Series Investment Competition Alongside 3 More Rural Colorado Startups
Innovative Space Propulsion Company Paves Way for Local Growth in the Tech Sector
DURANGO, Colo., July 16, 2021 /PRNewswire/ -- AGILE Space Industries, a leading provider of propulsion solutions for spaceflight missions has won the Greater Colorado Pitch Series Investment Competition, with a whopping $1.8 million venture debt commitment from Greenline Ventures of Denver.
A State-wide competition with over 100 applicant companies participating in a range of investment categories, the Greater Colorado Pitch Series will ultimately deliver 2.15 million dollars to Colorado based companies in varied industries, stages of growth, and Rural Colorado communities. AGILE takes the top spot for the growth-stage debt capital track. Originally headlined as a $1m venture debt award, Greenline expanded the award to $1.8m based on AGILE's market traction, recent customer wins and experienced leadership team.
"AGILE is bringing high-value jobs, revenue, and economic diversification to Durango's economy, and proves that market-leading technology companies can thrive on the Western Slope," said Jamie Finney, a partner at Greater Colorado Venture Fund and event organizer.
"This is a terrific win for AGILE, for our shareholders, and for our customers," added Jeffrey Max, co-founder, and Chairman of AGILE Space Industries. "We're gratified that the team at Greenline took the time to understand our business, nearly doubling the size of the award. This capital will help underwrite our ongoing growth as we continue to provide NASA, the Defense industry, and commercial space operators with the highest performing and lowest priced propulsion solutions available – for earth-orbiting satellites, lunar landers, and deep-space missions."
With a new headquarters facility at 1514 Main Avenue in Durango, a rocket engine test facility adjacent to the Durango Airport, and manufacturing facilities in Durango and Pittsburgh, PA, AGILE is a leader in the design, testing, and production of aerospace propulsion systems. Agile will continue to leverage state-of-the-art test facilities and leading-edge 3D printing technology, using exotic metals and refractory alloys to pioneer the future of the propulsion market.
