Exclusive-Sierra Space taps Boeing veteran as CFO after hefty capital raise -sources
By Eric M. Johnson
SEATTLE (Reuters) – Months after receiving a significant infusion of capital, Sierra Nevada Corp’s house unit, Sierra House, has tapped a veteran Boeing Co govt to helm its funds because it races to develop its flagship house airplane and research a public providing, two folks acquainted with the matter mentioned.
Outgoing Sierra House CFO Robert Rodgers pitched buyers and led due diligence efforts for round a yr main as much as the landmark $1.4 billion capital spherical it introduced in November, in response to his LinkedIn profile. Sierra mentioned it was the second-largest personal capital infusion ever within the aerospace and protection sector and boosted Sierra’s worth to $4.5 billion.
Changing Rodgers will probably be 10-year Boeing Co veteran Troy Lahr, who departed as CFO of the aerospace firm’s protection, house and safety unit in current weeks.
A Boeing spokesperson confirmed Lahr had left the corporate in current weeks however declined additional remark.
A Sierra House spokesperson confirmed in an announcement that Lahr would be part of the corporate quickly.
“Sierra House is assembling a world class administration crew, together with Troy, that sees many profitable alternatives within the market for buyers, whereas on the similar time driving innovation and fueling our mission to discover house and profit life on Earth,” the Sierra House spokesperson mentioned.
The spokesperson declined additional remark.
The rationale for Rodgers’ departure was not instantly clear. He didn’t instantly reply to a request for remark.
Trade sources say Sierra is exploring a possible public providing amongst different choices within the subsequent two to 3 years however say that no determination has been made.
The monetary management change comes because the Louisville, Colorado-based firm races to develop a reusable house airplane dubbed Dream Chaser to deal with cargo resupply missions to the Worldwide House Station (ISS) beginning in early 2023.
Sierra House says Dream Chaser’s means to land on a standard runway provides it an edge over rival options for delicate scientific analysis cargo. Rivals together with Elon Musk’s SpaceX are already carrying folks and cargo to the ISS.
Sierra envisions a future the place a fleet of its house planes – much like the House Shuttle, however a lot smaller – ferry people and cargo from house ports internationally to a bustling new house economic system.
“We’re constructing the following era of house transportation programs and in-space infrastructures and locations that can allow humanity to construct and maintain thriving civilizations past Earth,” Sierra House Chief Govt Officer Tom Vice mentioned final yr.
Sierra House has additionally solid a partnership with billionaire entrepreneur Jeff Bezos’ Blue Origin to develop and function a business house station in low earth orbit. Backers for the so-called orbital reef undertaking embody Boeing and Redwire House.
(Reporting by Eric M. Johnson in Seattle; Enhancing by Matthew Lewis)
