Castelion raises $1B in latest investment series - Rio Rancho Observer Home
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BUSINESS Funds will accelerate production of Blackbeard missile at Sandoval County Project Ranger site TORRANCE, Calif. - Castelion Corporation raised another $1 billion in its Series C round of investments, bringing the value of the Torrance, California-based company to $13 billion. “This financing will accelerate the scaled production of Blackbeard, Castelion’s first low-cost, mass producible hypersonic missile,” a Wednesday release states, referencing the hypersonic missile system that is to be developed at the company’s Project Ranger site in Sandoval County. “Our facility in New Mexico is going to be our first manufacturing site, and so it is going to be the largest hypersonic manufacturing site in the country,” said Meg Davidson, senior manager of strategic partnerships for Castelion during a presentation last week to the CREDA Rio Rancho Roundtable. “We are going to be churning out thousands of missiles from that property.” The objective of the scaled production is deterrence, according to Castelion officials. “Deterrence depends on unapologetic American strength: highly capable weapon systems that adversaries fear produced in quantities they can’t imagine at a price taxpayers can afford,” said Bryon Hargis, Castelion cofounder and CEO. “There’s a manufacturing renaissance underway, and this round turbocharges American production of Blackbeard. Designed in California...
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It will also allow for the development of a longer-range strike system weapon, which Castelion has had in development for several years as well as the development of defensive systems, according to the release.
