PiggyGPT

Private companiesCovered

Firehawk Aerospace

Dallas, TX · Founded 2020

Firehawk Aerospace makes solid rocket motors, hybrid rocket engines and complete rockets powered by its 3D-printed thermoplastic propellant, for the Army, the Air Force and the Department of War’s industrial-base program. It is building a propellant and motor plant in Lawton, Oklahoma, and integrates rockets at a facility in Crawford, Mississippi.

Profile

What it builds and who buys it

  • ·Firehawk calls itself an end-to-end energetics company that builds rocket motors powered by its proprietary propellant manufacturing process.Firehawk (company release), Aug 31, 2026
  • ·It designs its products at its Dallas headquarters, is building a 340-acre production facility in Lawton, Oklahoma, has a DCMA-rated integration facility in Crawford, Mississippi, and static-fires and flight-tests at two West Texas sites, including a 30-square-mile launch range.Firehawk (company release), Aug 25, 2026
  • ·Its site lists operations in Addison, Chico, Midland and Pecos in Texas, in Lawton, Oklahoma, in Huntsville, Alabama, and in Crawford, Mississippi.Firehawk (company site)
  • ·In August 2026 it was selected for $24 million from the Department of War’s IBAS program for a 22-month prototype effort to produce 740,000 pounds a year of thermoplastic propellant for the M1128 155mm base bleed system, at its Great Plains Arsenal in Lawton.Firehawk (company release), Aug 25, 2026
  • ·The company expects to invest $70 million of its own capital in that program, alongside $22 million from Oklahoma, and expects the Great Plains Arsenal to commission early in 2027.Firehawk (company release), Aug 25, 2026
  • ·The company projects that it will be the third-largest producer of propellant and the largest producer of artillery motors in the country once the Lawton plant is online.Firehawk (company release), Aug 25, 2026
  • ·Oklahoma transferred 320 acres near Fort Sill to Firehawk in May 2025, with a $22 million state and federal funding package for a 40,000-square-foot manufacturing facility.Firehawk (company release), May 29, 2025
  • ·In December 2025 it agreed to acquire the DCMA-rated integration facility in Crawford, Mississippi, assuming the facility and a 20-year lease on 636 acres.Firehawk (company release), Dec 19, 2025
  • ·The Army awarded Hydra-70 prototype agreements to Firehawk, iRocket, Nammo Perry and Albers in August 2026. Each is to deliver 24 prototype Hydra-70 M151 rockets and a modernized technical data package within 18 months.DVIDS (U.S. Army), Aug 5, 2026
  • ·The Defense Post reported that the Hydra-70 agreements have undisclosed values.The Defense Post, Aug 7, 2026
  • ·Six Hydra-70 rockets built at its Crawford facility fired successfully from an M261 launcher at Yuma Proving Ground on August 28, 2026.Firehawk (company release), Aug 31, 2026
  • ·In September 2025 it flight-tested Javelin-class and Stinger-class analogs with 3D-printed propellant in their launch motors, the final milestone of a Phase III SBIR contract with the Army Applications Laboratory.Firehawk (company release), Sep 30, 2025
  • ·Under the same contract, a GMLRS-class hybrid rocket analog flew in August 2025 to over 18,000 feet and exceeded the speed of sound.Firehawk (company release), Aug 26, 2025
  • ·It completed a static fire of a 5-inch 3D-printed solid rocket motor on June 1, 2026, under a contract with the Air Force Life Cycle Management Center.Firehawk (company post), Jun 25, 2026
  • ·The Air Force Test Center awarded it a two-year, $4.9 million firm-fixed contract in August 2025 for AFRL hybrid rocket engine work. The company had completed 58 hot fire tests by then.Firehawk (company release), Aug 25, 2025
  • ·AFWERX awarded it a $1.25 million Phase II SBIR contract in April 2025 for shelf-stable solid propellant work.Firehawk (company release), Apr 21, 2025
  • ·AFWERX awarded it a $4 million TACFI contract in September 2025 for extended-range solid rocket motors using 3D-printed thermoplastic propellant.Firehawk (company release), Sep 22, 2025
  • ·AFRL awarded it a further contract in July 2026 for a larger hybrid engine for a sled track test bed. The chief executive said hybrid engines are now one of several product lines.Firehawk (company release), Jul 28, 2026
  • ·Rochefort Asset Management closed a senior secured loan to Firehawk in April 2026, to expand production of solid rocket motors, base bleed motors, hybrid engines and propellant.PR Newswire (Rochefort Asset Management release), Apr 28, 2026
  • ·In February 2026 it and UNION Technologies announced a collaboration framework beginning with 155mm metal parts.PR Newswire (UNION Technologies release), Feb 25, 2026
  • ·In March 2025 it signed a teaming agreement with Fairlead to house its energetics systems in Fairlead’s containerized mission modules.Firehawk (Fairlead release), Mar 11, 2025
  • ·Abdul Subhani, chief executive of Centex Technologies, became chair of its board of advisors in February 2026.Firehawk (company release), Feb 2, 2026
  • ·The company dates a partnership with Raytheon and testing at NASA to 2021.Firehawk (company site)

Founders and leadership

  • Will EdwardsCo-founder and chief executive

    Firehawk is his first aerospace company. He went to law school and worked in the software and HR industries before meeting his co-founder, Ronald Jones.TechCrunch, Dec 8, 2020

  • Ronald JonesCo-founder

    TechCrunch credited him and Edwards with the breakthrough of giving hybrid rocket fuel a structure by 3D-printing it, and called him chief scientist in 2022. He is not on the company’s current leadership page.TechCrunch, Sep 27, 2022

  • Steve EdwardsCo-founder

    Named as a co-founder by Dallas Innovates. He is not on the company’s current leadership page.Dallas Innovates, Sep 25, 2025

Prospects, after the September 2026 talks report

Prepared by PiggyGPT, as of Oct 15, 2026

  • ·The work on file is development and prototype work: the $24 million IBAS award, the Hydra-70 prototype agreement and Air Force contracts of $4.9 million, $4 million and $1.25 million. None is a production contract. No revenue figure is on file.Firehawk (company release), Aug 25, 2026
  • ·The Lawton plant is the step to volume. The company expects it to commission early in 2027 and to produce 740,000 pounds of propellant a year under the IBAS program.Firehawk (company release), Aug 25, 2026
  • ·No round has a stated valuation. Bloomberg News reported talks in September 2026 at $1.25 billion, a figure from people familiar with the matter, with details that could change. Clarity shows a $5.00 estimate.Bloomberg Law (Bloomberg News), Sep 11, 2026
  • ·For the acquisition read, the ties on file are investor stakes: Hanwha Defense USA and CSG invested as strategic partners, and Raytheon invested in the Series A and Series B. No talks or approach to buy the company are reported. The posture is watch.Firehawk (company release), Nov 3, 2025

A summary of what the figures on this page add up to, prepared by PiggyGPT from the record on file and its cited sources. Not the Street's view, and not advice.

Funding

Last valuation

No citable valuation

Last round or tender

Strategic investment

Firehawk (company release), Nov 3, 2025

From Hanwha Defense USA, a subsidiary of Hanwha Aerospace, for solid rocket motor technology, production and integration. The company did not state the amount or a valuation.

Latest revenue figure

—

Valuation to revenue

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Post-money valuation by round

Fewer than two dated figures on file to plot; the table carries what there is.

DateRoundRaisedPost-money
Nov 3, 2025Strategic investmentFrom Hanwha Defense USA, a subsidiary of Hanwha Aerospace, for solid rocket motor technology, production and integration. The company did not state the amount or a valuation.——
Sep 24, 2025Series COversubscribed, led by 1789 Capital, with Draper Associates, Decisive Point, Stellar Ventures and Presto Tech Horizons, a fund of Presto Ventures and Czechoslovak Group (CSG). 3Dnatives reported the round in January 2025, citing Forbes, with 1789 Capital offering $15 million. The day recorded is the company’s announcement. No valuation was stated.$60M—
Sep 27, 2022Series BLed by Star Castle VC, with Raytheon, Draper & Associates, Goff Capital, Cathexis Ventures, Plains VC, Victorum Capital, Stellar VC, Capital Factory, Echo Investments and Hemisphere Ventures. TechCrunch reported $15.5 million raised and an expected close at $17 million. A Form D records $8,750,000 of equity sold to 6 investors from August 25, 2022, of a $25,000,000 offering, and does not name the round. No valuation was stated.$16M—
Apr 28, 2022Series AAn investment by Raytheon Missiles & Defense, an RTX business, announced with a research collaboration on integrating Firehawk’s technology into future missile systems. Defense Daily reported that the size was not disclosed. No valuation was stated.——
Dec 1, 2020SeedLed by members of the Victorum Capital Club, with Achieve Capital and Harlow Capital Management. Defense Daily dates the close to November 2020 and calls it a Series A. The day recorded is the report. No valuation was stated.$2M—

Primary capital across the rounds on file: $77.5M

Revenue

No citable revenue figure on file.

Secondary venues

  • Clarity (formerly Hiive)public page seen Oct 15, 2026

    Clarity Price $5.00, as of Oct 15, 2026

    Clarity calls the figure a model-derived indicative price estimate calculated daily; the page dates it no further than a "last updated" line reading August 28, 2026, so the day recorded is the day seen. The page shows -54.55% all time. Last match, bids and asks are behind sign-up.

  • Nasdaq Private Marketpublic page seen Oct 15, 2026

    No price on the public page.

    The page shows no figure in its text or its title. Its financing table lists rounds with prices and valuations behind sign-up.

  • Caplightpublic page seen Oct 15, 2026

    No price on the public page.

    No public MarketPrice; historical pricing is behind a login. The page shows only Caplight’s last-round figures: a growth-equity round dated September 12, 2026 at a $1.25 billion estimated valuation, which no cited source reports as closed.

  • Jarsypublic page seen Oct 15, 2026

    No price on the public page.

    A tokenized pre-IPO platform. The public page names Firehawk Aerospace Inc. and shows a "Latest Valuation" heading with no figure and no token or share price.

A venue is listed when its public page named the company on the date shown. A price is the figure that page showed, under the venue’s own name for it and dated as the venue dated it; it is a level the venue publishes, not a trade. Nothing is recorded from behind a login.

Reads

Acquisition: Watch

A cited tie to a plausible buyer: a strategic partner, an investor stake, a tender offer, a stated appetite. Nothing reported.

Prepared by PiggyGPT, as of Oct 15, 2026

Signals

  • Apr 28, 2022Raytheon Missiles & Defense made a Series A investment in Firehawk, and the two agreed to collaborate on research that could put Firehawk’s technology into future missile systems.Defense Daily, Apr 28, 2022
  • Sep 27, 2022Raytheon participated in Firehawk’s Series B, led by Star Castle VC, TechCrunch reported.TechCrunch, Sep 27, 2022
  • Sep 24, 2025Presto Tech Horizons, a fund of Presto Ventures and the Czech defense group CSG, joined the $60 million Series C as a strategic partner. The company said the parties were exploring industrial application of Firehawk’s technologies.Firehawk (company release), Sep 24, 2025
  • Nov 3, 2025Hanwha Defense USA, a subsidiary of Hanwha Aerospace, made a strategic investment in Firehawk aimed at solid rocket motor production and integrated missile systems.Firehawk (company release), Nov 3, 2025
  • Feb 2, 2026Kevin Schoonover, executive vice president of missiles at Hanwha Defense USA, joined Firehawk’s board of advisors.Firehawk (company release), Feb 2, 2026
  • Apr 28, 2026Rochefort Asset Management, a firm licensed under the Department of War’s Office of Strategic Capital, closed a senior secured loan to Firehawk. The amount was not stated.PR Newswire (Rochefort Asset Management release), Apr 28, 2026
  • Sep 11, 2026Bloomberg News reported that Firehawk was in talks to raise about $100 million to $200 million at a $1.25 billion valuation, led by Rochefort Asset Management, with 1789 Capital expected to participate.Bloomberg Law (Bloomberg News), Sep 11, 2026

Named counterparties

  • Hanwha AerospaceIts subsidiary Hanwha Defense USA made a strategic investment in Firehawk, and its executive vice president of missiles sits on Firehawk’s board of advisors. No interest in a deal has been reported.Firehawk (company release), Nov 3, 2025
  • RTXRaytheon Missiles & Defense invested in the Series A and the Series B and agreed to research integrating Firehawk’s technology into future missile systems. No interest in a deal has been reported.Defense Daily, Apr 28, 2022
  • CSG (Czechoslovak Group)Invested through Presto Tech Horizons, its fund with Presto Ventures, as a strategic partner in the Series C, and is exploring industrial application of Firehawk’s technologies. No interest in a deal has been reported.Firehawk (company release), Sep 24, 2025

Counterparties are named for a cited reason: a partnership, an investment, or a stated appetite. Naming is not a forecast.

A summary of what the figures on this page add up to, prepared by PiggyGPT from the record on file and its cited sources. Not the Street's view, and not advice.

Sources

Researched Oct 15, 2026