Spectral Energies Estimates $50M in Funding for Defense Tech Facility Establishment

Spectral Energies is seeking to raise $50 million in approximate funding to support the planning and development of a defense-focused facility for hypersonic counter-threat technologies production, The Business Journals reported Wednesday.

The Beavercreek, Ohio-headquartered aerospace and defense technology provider is looking to receive $5 million through the Dayton Region Priority Development and Advocacy Committee and secure the remaining $45 million from government funding programs focused on small businesses.

PDAC has a Feb. 10 deadline to evaluate projects and provide final recommendations for regional projects seeking funding from state and federal sources.

Spectral Energies said it plans to use the PDAC funding to support planning and studies in the next six to 12 months but did not disclose the timeline for the construction of the new facility.

The announcement for the Center for Hypersonic Counter-Threat Technologies comes six months after Spectral Energies secured an eight-year, $184.3 million contract from the U.S. Air Force to advance propulsion-related research and technologies for defense platforms.