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X-Bow Raises More Than $70 Million Series B to Accelerate Expansion of Hypersonic and Solid Rocket Motor Technologies

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ALBUQUERQUE, N.M., July 10, 2024-- X-Bow Systems Inc. (X-Bow), the nation's leading non-traditional producer of advanced manufactured solid rocket motors (SRMs) and hypersonics technologies, today announced the successful completion of the initial close of its Series B financing, raising over $70 million. This private capital will accelerate the rapid growth of its hypersonic-capable vehicles, strategic and tactical scale solid rocket motor programs, and completion of its Luling, TX gigafactory campus. The company will also be expanding its engineering and R&D facilities across New Mexico. The round was led by National Security technology-focused growth equity firm Razor's Edge, with additional participation from Lockheed Martin Ventures, Boeing Ventures, Crosslink Capital and Balerion Space Ventures.

"Razor's Edge invests in companies with great leadership teams and differentiated products that solve large, difficult National Security challenges, including defense and space needs. The Ukraine conflict has exposed the significant gaps that exist in the SRM industrial base. X-Bow's team identified these critical gaps well ahead of the conflict and has built a sizable lead over other emerging suppliers. The company's proprietary manufacturing technologies and insights into the market have enabled it to build a broad suite of SRM and energetics products. X-Bow has successfully demonstrated the ability to apply and scale these products to address huge needs in affordable hypersonics and the broader SRM industrial base and this capital will enable the company to make an even more meaningful impact in National Security," said Mark Spoto, co-founder and Managing Partner at Razor's Edge and an X-Bow Board Member.

With this funding now secured, X-Bow will accelerate its growth trajectory as the nation's third supplier of Solid Rocket Motors and continue in its quest to rapidly innovate and deliver agile, affordable solutions for SRMs, hypersonics and associated adjacent markets.

"X-Bow Systems has experienced significant growth and success in the past year, securing multiple contracts for SRMs, energetics and launch services. These successes are directly attributable to our team's expertise and our patented advanced manufacturing techniques, which allow us to build, scale and produce SRMs and energetics more affordably than traditional methods. The Series B funding will augment growth by accelerating the completion of the country's second largest SRM production facility (by capacity) in Luling, TX. This expansion addresses both critical industrial base and defense needs, and we're grateful for the support of our investors and various industrial partners," stated Jason Hundley, CEO and Founder.

Union Square Advisors LLC served as exclusive financial advisor to X-Bow for this financing transaction.

ABOUT X-BOW SYSTEMS

X-Bow Systems is disrupting the aerospace and defense industry with innovative and cost-effective advanced manufactured energetics for the solid rocket motor and launch vehicle market. X-Bow is also designing and building a suite of modular, strategic and tactical scale solid rocket motors and small launch vehicles for both orbital and suborbital launch services. X-Bow is led by CEO Jason Hundley, Chairman Mark Kaufman, CTO Max Vozoff, CRO Maureen Gannon, General Counsel John Leary and a growing team of seasoned industry veterans and new space entrepreneurs. X-Bow is a dual-use technology company with headquarters in Albuquerque, New Mexico, significant production facilities in Texas, and additional presence in California, Alabama, Utah, Colorado and Washington, DC.

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