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The funding, which would go to Rocket Lab subsidiary SolAero Technologies, would help increase the company’s compound semiconductor production by 50% within the next three years. The funding would help the company build out its Albuquerque-based facilities and create more than 100 direct manufacturing jobs, Rocket Lab said in a statement. Rocket Lab acquired SolAero, which operates a ~115,000-square-foot manufacturing facility, in 2022 for $80 million. The company is one of just two in the United States that specializes in the production of space-grade, radiation-resistant compound semiconductors, or space-grade solar cells. SolAero is highly vertically integrated: In addition to the solar cells, the firm also manufactures solar panels and power modules.