Balerion Space Ventures has announced investments in three pioneering technology companies that the company said are at the center of “a fundamental shift” in how America builds, powers, and operates critical infrastructure beyond Earth’s surface.

Balerion, a Dallas-based space and national security technology capital firm, is investing in Antares Industries, Samara Aerospace, and Valar Atomics, all of which it said point to the alignment of space, defense, and industrial-scale energy systems, which are critical to U.S. competitiveness and national security.

“The companies we’re backing are building the foundational systems that will power the next trillion-dollar economy,” Phil Scully, co-founder and general partner at Balerion Space Ventures, said in a statement.

“Agile spacecraft, advanced nuclear systems, and deployable microreactors—these are the technologies that will determine who leads in space, defense, and domestic manufacturing over the next decade as we enter a new industrial era driven by mass access to space,” Scully added. “Balerion is excited to back the companies developing the infrastructure that will power the space economy.”

Backing platforms with ‘real technical depth and scalable economics’

Balerion Partner Daniel Wallman also pointed to the forward-looking innovation of the three businesses, which he said are “building the enabling infrastructure that the broader space and defense ecosystem will rely upon for decades.”

Wallman added, “As capital pours into the sector, our focus remains disciplined on backing mission-critical platforms with real technical depth and scalable economics. Antares, Samara, and Valar exemplify the kind of durable enterprise value being created at the frontier of this asset class.”

‘The companies building the foundational systems that others depend on’

Southern California-based Antares Industries is engineering modular, transportable microreactors designed for rapid deployment in challenging environments. These systems provide sturdy, autonomous power for defense operations and critical infrastructure, Balerion said, adding that Antares’ capabilities are increasingly prioritized as global defense budgets surge and energy security becomes a critical national priority.

Samara Aerospace, headquartered in San Francisco, is developing high-precision spacecraft platforms with advanced attitude-control technologies that empower “unprecedented” on-orbit agility, Balerion said. As satellite constellations grow and Earth observation becomes crucial for defense and commercial customers, Balerion said that Samara’s systems offer the advanced performance needed for next-gen orbital infrastructure.

Valar Atomics in Hawthorne, California, is scaling nuclear energy for heavy industrial power and hydrocarbon fuel production. The company recently became the first U.S. nuclear startup to attain criticality at its Utah testing site, a breakthrough in the race to commercialize advanced nuclear systems for heavy industrial power and clean fuel production. The company’s technology addresses the vital need for abundant, reliable domestic energy to support advanced manufacturing and enable long-duration space missions, Balerion said.

Seeing an inflection point as impactful as the dawn of the internet

Scully told Dallas Innovates that what’s happening in space could mirror the impact of the dawn of the internet. 

“We’re witnessing the same kind of inflection point in space that we saw when the internet moved from research labs into the backbone of the global economy,” Scully said. “Launch costs have dropped from around $50,000 per kilogram to under $100. That kind of cost shift transforms entire industries.”

Private companies “are now building satellites at scale, manufacturing in orbit, and creating infrastructure that will support commerce and defense for decades,” he added. “Companies like Antares, Samara, and Valar are laying the manufacturing groundwork for the next Industrial Revolution. At Balerion, we back the teams building the foundational infrastructure that will define tomorrow’s trillion-dollar markets.”

Balerion said its investments will support product development, facility expansion, and crucial commercial milestone achievements as each company strengthens engagement with defense, civil, and commercial customers, the company said.

Other Balerion investments

Two other companies that Balerion has invested are Northwood Space and Impulse Space, both next-generation space infrastructure companies led by frontier space entrepreneurs. 

Northwood Space—led by Co-Founder and CEO Bridgit Mendler, a former Disney Channel TV star—is building a global, software-defined ground network that will serve as the communications infrastructure enabling satellites to talk to Earth reliably and efficiently as scale. The company is headquartered in Torrance, California.

Impulse Space is led by Founder and CEO Thomas Mueller, who was formerly Employee No. 1 at  SpaceX. The Redondo Beach, California-based company is building the transportation infrastructure required for in-space mobility, developing high-performance vehicles that move satellites and payloads between orbits.

David Seeley contributed to this report.

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