Rob Black, Cabinet Secretary-Designate | New Mexico Economic Development Department
Mantis Space, a startup focused on space and advanced energy infrastructure, has chosen Albuquerque, New Mexico as the location for its headquarters and research and development manufacturing facilities. The company is working on building the first power grid in space to deliver energy directly to satellites, habitats, and lunar operations.
Founded in Kennesaw, Georgia by experienced professionals from the space industry and supported by Montauk Capital, Mantis Space aims to contribute to the growth of the orbital infrastructure sector. This area is expected to help expand the global space economy beyond $1 trillion by the early 2030s and enable new developments such as off-planet data centers and manufacturing.
The new facility in Albuquerque is projected to create more than 200 high-tech jobs with average annual salaries exceeding $180,000. Over the next decade, these activities are estimated to generate over $480 million in economic impact for both Albuquerque and New Mexico. The company’s decision followed a national search that considered factors like quality of life, access to talent, proximity to customers and suppliers, and available economic incentives. As part of its move, Mantis Space will receive a $2.5 million award from New Mexico’s Local Economic Development Act (LEDA) program and an additional $500,000 from the city.
“We’ve been truly impressed by the hospitality, generosity, and hard work to support our decision we’ve experienced with the leadership of the State of New Mexico, the City of Albuquerque, and their respective economic development teams,” said Mantis Space CEO Eric Truitt. “Albuquerque exceeded nearly all our criteria for our highly competitive selection and offered an extremely competitive package that was ultimately the key. We look forward to working together to make New Mexico a national leader in both space and advanced energy innovation.”
“Mantis Space is tackling one of the foundational challenges in the emerging space-energy sector, and Montauk Capital is proud to back the team as they build the first energy grid in space,” said Philip Krim, co-founder and CEO of Montauk Capital. “Their work reflects the type of long-range engineering and industry-defining innovation we seek in our partners.”
New Mexico has recently attracted other technology companies such as Pacific Fusion and Castelion. Governor Michelle Lujan Grisham commented on this trend: “New Mexico is rapidly becoming an anchor for our nation’s most advanced industries, as today’s exciting announcement demonstrates. With our world-class research institutions, unmatched talent, and growing network of innovative companies, our state is literally shaping the future.”
Albuquerque Mayor Tim Keller added: “Albuquerque is once again showing that we’re a center of innovation and future-focused technology. Our investments in groundbreaking industries are creating an economy that works for everyone, and Mantis Space is helping lead the way with new high-paying jobs.”
EDD Cabinet Secretary Rob Black stated: “The next era of advanced technology and innovation begins here. Mantis Space’s decision to establish its headquarters here and bring its high-wage jobs to New Mexico reflects the strength of our talent, our capacity for collaboration, and the competitive tools we have to drive growth in the space and defense sectors.”
Economic Development Director Max Gruner noted: “Economic growth doesn’t happen by accident. It happens when we plan boldly, partner strategically, and invest in the people who call Albuquerque home. We’re leveraging every tool we have to open doors for businesses, attract new industries, and create long-term prosperity that lifts our entire community.”
Collaboration among organizations such as STEM Boomerang New Mexico and Albuquerque Regional Economic Alliance (AREA) played a role in attracting Mantis Space.
“Mantis Space joins a growing lineup of advanced industry companies expanding in Greater Albuquerque, and we’re thrilled to welcome them to the region,” said AREA Interim President and CEO Chad Matheson. “Through AREA’s project support and strong collaboration with our state and local partners, we were proud to showcase the region’s unmatched aerospace strengths.”
