CisLunar Industries Market Research Report
Background
Overview
CisLunar Industries, founded in 2017 and headquartered in Loveland, Colorado, is a pioneering space technology company focused on developing scalable, intelligent hardware solutions for in-space power conversion and metal processing. The company's mission is to build the infrastructure for a sustainable and thriving in-space economy by transforming resources in orbit into valuable products. Their vision encompasses a future where Earth's orbit serves as a hub for economic growth, with spacecraft built, maintained, and powered in space.
Mission and Vision
- Mission: To create a sustainable future in space by transforming resources in orbit into valuable products supporting a thriving in-space economy.
- Vision: To build the infrastructure of tomorrow’s space economy today, enabling humanity to expand beyond Earth and permanently settle the Solar System.
Primary Area of Focus
CisLunar Industries specializes in in-space metal processing and power conversion technologies. Their flagship product, the Modular Space Foundry® (MSF), processes natural and man-made metals into solid metal propellant and manufacturing feedstocks such as rods, tubes, wire, sheet metal, beams, and trusses. Additionally, they develop modular configurable electric power conversion systems that serve operating payloads at any power level, including electric propulsion.
Industry Significance
The company plays a crucial role in advancing the in-space industrial revolution by addressing key challenges in space infrastructure, such as resource utilization and power management. Their innovations contribute to the sustainability and efficiency of space operations, supporting both commercial and defense missions.
Key Strategic Focus
Core Objectives
- In-Space Manufacturing: Develop technologies that enable the recycling of space debris into usable materials for in-space manufacturing, reducing reliance on Earth-based resources.
- Power Conversion Solutions: Create efficient and scalable power processing units (PPUs) to support various space applications, including electric propulsion and in-space manufacturing.
Specific Areas of Specialization
- Modular Space Foundry® (MSF): A distributed metal processing capability composed of numerous small, low-cost, modular processing units that receive metal feedstock and process it into basic metal products for In-Space Servicing, Assembly, and Manufacturing (ISAM), as well as into propellant for in-space transportation and logistics.
- Electronic Power Intelligent Conversion (EPIC™) Systems: A product line for power processing, including hardware and software, designed to cut customer lead times and non-recurring engineering costs, increase resiliency and efficiency, and leave more room on the spacecraft for expanded mission capability.
Key Technologies Utilized
- Electron-Beam Welding Systems: Developed a 20kV power supply that powered an electron-beam welding system in space, marking a significant milestone in in-space manufacturing capabilities.
- Modular Configurable Electric Power Conversion Systems: Address key gaps in the current market for space electronics, providing adaptable solutions for various space missions.
Primary Markets Targeted
- Commercial Space Operations: Providing in-space manufacturing and power solutions to commercial satellite operators and space infrastructure companies.
- Defense and National Security: Supplying resilient and efficient power systems for military and defense applications, including satellite servicing and space logistics.
Financials and Funding
Funding History
CisLunar Industries has secured over $4.5 million in funding to date.
Recent Funding Rounds
- July 2025: The company received an investment from Colorado ONE Fund, the venture capital arm of ONE Funds, dedicated to accelerating critical technologies. This investment aims to advance CisLunar Industries' power infrastructure for the space industrial economy.
Notable Investors
- Colorado ONE Fund: Invested in July 2025 to support the company's technology development and expansion.
Intended Utilization of Capital
The capital is intended to accelerate technology development, expand the engineering team, and support key demonstration missions with government and commercial partners.
Pipeline Development
Key Pipeline Candidates
- Modular Space Foundry® (MSF): A distributed metal processing system designed to recycle space debris into usable materials for in-space manufacturing and propellant production.
- Electronic Power Intelligent Conversion (EPIC™) Systems: A line of power processing units and associated software aimed at providing adaptable power solutions for various space missions.
Stages of Development
- MSF: The company has demonstrated an initial Earth-based prototype and continues research and development, with plans for a commercially available system in the 2023-2025 timeframe.
- EPIC™ Systems: Development is ongoing, with the aim to address critical bottlenecks in space missions related to power processing.
Target Conditions
- Space Debris Recycling: Transforming space debris into usable materials for in-space manufacturing and propellant production.
- Power Processing for Space Missions: Providing efficient and scalable power solutions for various space applications, including electric propulsion and in-space manufacturing.
Anticipated Milestones
- 2023-2025: Commercial availability of the Modular Space Foundry® system.
- Ongoing: Deployment of EPIC™ systems in various space missions.
Technological Platform and Innovation
Proprietary Technologies
- Modular Space Foundry® (MSF): A distributed metal processing system designed to recycle space debris into usable materials for in-space manufacturing and propellant production.
- Electronic Power Intelligent Conversion (EPIC™) Systems: A line of power processing units and associated software aimed at providing adaptable power solutions for various space missions.
Significant Scientific Methods
- Electron-Beam Welding in Space: Successfully powered an electron-beam welding system in space, marking a significant milestone in in-space manufacturing capabilities.
- Modular Configurable Electric Power Conversion: Developed adaptable power conversion systems to address key gaps in the current market for space electronics.
Leadership Team
Gary Calnan, CFA – Co-Founder & CEO
Gary Calnan is a seasoned entrepreneur and executive with experience in financial operations and post-merger integration. Before entering the space sector, he held senior finance roles at IQNavigator and co-founded Trinity Spirits.
Lee Steinke, MSc, MBA, PG – COO
Lee Steinke has over 20 years of leadership experience across aerospace, defense, and energy sectors. She has held c-suite executive roles on contracts for NASA, DARPA, Space Force, and defense contractors. Steinke holds an MBA from Wharton, an MS from Yale, and a BA from UNC-Chapel Hill.
Walter Schroeder, PhD – Co-Founder & CPO
Walter Schroeder is a multidisciplinary innovator with a background in deep tech, space systems, product innovation, and business development. He has held roles at SAP, Roche, and CTAE and has experience in Luxembourg as Managing Director and Head of IP and Earth Applications.
Leadership Changes
As of February 2026, there have been no publicly announced significant changes or appointments within the company's leadership.
Competitor Profile
Market Insights and Dynamics
The cislunar infrastructure market is rapidly emerging as a critical sector within the space industry, driven by increasing interest in lunar exploration and commercial activities beyond Earth's orbit. The global market is projected to reach a value of $14.64 billion by 2033, growing at a CAGR of 11.94%.
Competitor Analysis
- SpaceX: A leading aerospace manufacturer and space transportation company focused on reducing space travel costs and enabling interplanetary colonization.
- Blue Origin: An aerospace manufacturer and spaceflight services company specializing in developing reusable rockets and spacecraft to lower the cost of access to space.
- Northrop Grumman:
