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NASA Chooses Lockheed Martin To Build Nuclear Mars Rocket

The spacecraft will use a reactor from BWX Technologies to travel to the red planet.

Published

1 year ago

July 27, 2023

Nour Nasir

Lockheed Martin

NASA and DARPA have chosen Lockheed Martin to build a spacecraft featuring a nuclear rocket engine. The project is known as the Demonstration Rocket for Agile Cislunar Operations (DRACO), and should be ready for trials by 2027, in the hope that it will eventually be used for missions to Mars.

The rocket will use Nuclear thermal propulsion (NTP), which has several advantages over conventional chemical-powered engines. Nuclear power is up to five times more efficient than rocket fuel, which means that future spacecraft will be able to travel significantly further with a larger payload.

“These more powerful and efficient nuclear thermal propulsion systems can provide faster transit times between destinations,” explained Kirk Shireman, VP of Lunar Exploration Campaigns for Lockheed Martin. “Reducing transit time is vital for human missions to Mars to limit a crew’s exposure to radiation”.

lockheed martin mars rocket

The NTP system will use a nuclear reactor to rapidly heat hydrogen propellant to very high temperatures. The gas is then funneled through the engine’s nozzle, creating thrust. “This nuclear thermal propulsion system is designed to be extremely safe and reliable, using High Assay Low Enriched Uranium (HALEU) fuel to rapidly heat a super-cold gas,” explained reactor developers BWX Technologies. “As the gas is heated, it expands quickly and creates thrust to move the spacecraft more efficiently than typical chemical combustion engines”.

Also Read: Take A Balloon Journey To Space, Complete With Fine Dining!

To help alleviate concerns about radioactive leaks, NASA and DARPA will use a conventional rocket to take the new spacecraft out of Earth’s orbit before powering up the reactor after the ship has reached a safe distance.

Related Topics:Lockheed Martin NASA Space

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Mamo Completes $3.4M Funding Round To Enhance Fintech Services

The startup will use the influx of cash to expand into Saudi Arabia and across the wider GCC while improving its product offering.

Published

1 day ago

July 25, 2024

Nour Nasir

Mamo

UAE-based fintech Mamo has announced the completion of a $3.4 million funding round that will help the startup extend its market presence and improve its product offering. Investors included 4DX Ventures, the Dubai Future District Fund and Cyfr Capital.

Mamo’s platform offers “payment collection, corporate cards and expense management” to help small and medium-sized businesses consolidate and streamline their operations. With the latest influx of capital, Mamo will further develop its comprehensive suite of services and begin testing its product lines in Saudi Arabia, further extending its footprint across the GCC.

Imad Gharazeddine, co-founder and CEO of Mamo, stated: “We’ve been in the market for a while now and are incredibly proud of what our team has achieved. The holistic and expansive nature of our product offering has helped us continue to grow sustainably. This additional funding will allow us to reach our medium-term goals even faster. The support from new and existing investors is a testament to our strong expertise and the ability to deliver on our customer promise”.

Daniel Marlo, General Partner of lead investor 4DX Ventures, added: “We have immense trust in Imad’s vision, leadership and Mamo’s innovative approach to provide a user-friendly and comprehensive financial solution for SMEs that makes financial management more accessible and efficient. We are proud to partner with them and support their mission”.

Also Read: A Guide To Digital Payment Methods In The Middle East

Amer Fatayer, Managing Director of Dubai Future District Fund’s investment team, also commented: “Mamo’s localized product lines serve as an infrastructure for SME payments and spend management in UAE, a segment that is underserved by the country’s current banking infrastructure. The team has taken a product-first approach to consolidating SMEs’ financial journeys and building a fintech solution deeply embedded in a business’s core operations”.

To date, Mamo has raised around $13 million in investment funding and now boasts a team of 30 people. The company’s intuitive financial services platform has allowed over 1,000 businesses to consolidate their financial operations and significantly reduce payment fees.