06:54 AM EST, 11/25/2024 (MT Newswires) -- Rocket Lab USA ( RKLB ) has won up to $23.9 million in direct funding from the US government as part of the federal CHIPS Program, the US Department of Commerce said Monday.

The award is meant to support US production of space-grade solar cells that power spacecraft and satellites including missile detection systems, the James Webb Space Telescope, NASA's Artemis program, the Ingenuity Mars Helicopter, and the Mars Insight Lander.

The funds will be disbursed as the company completes project milestones, the statement said.