Kratos Defense & Security Solutions and Rafael Advanced Defense Systems on Thursday announced an approximate 50/50 partnership for the establishment of a U.S.-based merchant supplier of solid rocket motors (SRMs) and other energetics. The joint venture - Prometheus Energetics -...
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Kratos Defense & Security Solutions and Rafael Advanced Defense Systems on Thursday announced an approximate 50/50 partnership for the establishment of a U.S.-based merchant supplier of solid rocket motors (SRMs) and other energetics.
The joint venture - Prometheus Energetics - will be headquartered on an approximate 500-acre site near the United States Navy and Army facility in Crane, Indiana. Prometheus is projected to begin production in 2027.
Kratos and Rafael (through its U.S. based subsidiary Rafael USA) have jointly committed up to US$175 million in capital for the establishment of the JV. Prometheus is projected to begin production in 2027, after construction of the plant and once Rafael's technology transfer is completed and certified for operations.
"We believe Prometheus, once up and running at full rate production, will be a step function catalyst in value creation for Kratos' stakeholders and the U.S. defense industrial base, similar to Kratos' recent MACH-TB contract award—the largest single-award contract in Kratos history," said Eric DeMarco, President and CEO of Kratos Defense. "Like other major Kratos investments such as Oriole, Zeus, and Erinyes, Prometheus responds to a critical need to strengthen the U.S. Industrial Base and will also provide tens of thousands of SRMs and casted warheads supporting both America's most reliable partner in the Middle East and United States national security related demand from a true SRM and energetics merchant supplier."
"The establishment of Prometheus Energetics is a strategic leap forward, reinforcing Rafael's commitment to strengthening the U.S. defense industrial base while ensuring our allies and partners have access to the most advanced, combat-proven energetics solutions," said Yoav Tourgeman, President and CEO of Rafael. "This step constitutes a strategic vector that combines business considerations in the American market with the increasing demand for energetic products, while significantly enhancing our ability to deliver resilient and reliable supply solutions to our customers. Through this joint venture, we are deepening our longstanding partnership with the United States, strengthening supply chain independence, and bolstering the critical capabilities needed to address evolving national security challenges."
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