Kratos Defense, Rafael announce Prometheus Energetics joint venture

Kratos Defense (KTOS) and Rafael announced an approximate 50/50 partnership for the establishment of a U.S.-based merchant supplier of solid rocket motors and other energetics. The new joint venture, named Prometheus Energetics is set to be headquartered on an approximate 500-acre site near the United States Navy and Army facility in Crane, Indiana. Kratos and Rafael have jointly committed up to $175M in capital for the establishment of Prometheus and required property, plant, equipment and personnel needed for the new energetics manufacturing campus and facilities. After construction of the plant and once Rafael technology transfer is completed and certified for operations, Prometheus is projected to begin production in 2027 of SRMs.