Firsthand Technology Value Fund Holding Hera Systems Selected for U.S. Space Force Tetra-5 Program
August 26 2022 - 9:15AM
Firsthand Technology Value Fund, Inc. (NASDAQ: SVVC) (the “Fund”),
a publicly traded venture capital fund that invests in technology
and cleantech companies, announced today that Hera Systems, a
holding since 2015, has been selected to provide spacecraft and
related capabilities to the Tetra-5 program for the U.S. Space
Force.
The Tetra-5 program will develop and deploy a
constellation of up to three prototype spacecraft to demonstrate
key inspection and docking capabilities for on-orbit refueling and
the use of next-generation autonomous collaboration techniques. The
U.S. Space Force has awarded the contract to lead the Tetra-5
program to Orion Space Solutions with support from Hera Systems.
The contract award, if all options are exercised, is valued at up
to $44.5 million.
Under its agreement with Orion Space Solutions,
Hera Systems will provide the advanced spacecraft, mission unique
software, and associated digital twin support for the Tetra-5
constellation, which will operate in Geostationary Earth Orbit
(GEO). For more information, please visit Hera Systems’ website at
https://www.herasys.com.
About Firsthand Technology Value
Fund Firsthand Technology Value Fund, Inc. is a publicly
traded venture capital fund that invests in technology and
cleantech companies. More information about the Fund and its
holdings can be found online at www.firsthandtvf.com.
The Fund is a non-diversified, closed-end
investment company that elected to be treated as a business
development company under the Investment Company Act of 1940. The
Fund’s investment objective is to seek long-term growth of capital.
Under normal circumstances, the Fund will invest at least 80% of
its total assets for investment purposes in technology and
cleantech companies. An investment in the Fund involves substantial
risks, some of which are highlighted below. Please see the Fund’s
public filings for more information about fees, expenses and risk.
Past investment results do not provide any assurances about future
results. Announced acquisition transactions about the Fund’s
holdings, such as provided above, do not provide any indication
about whether any other Fund holding will be acquired for a profit
or otherwise will become a profitable investment.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING
STATEMENTS: This press release contains "forward-looking
statements" as defined under the U.S. federal securities laws.
Generally, the words "believe," "expect," "intend," "estimate,"
"anticipate," "project," "will," and similar expressions identify
forward-looking statements, which generally are not historical in
nature. Forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to materially differ
from the Fund’s historical experience and its present expectations
or projections indicated in any forward-looking statement. These
risks include, but are not limited to, changes in economic and
political conditions, regulatory and legal changes, technology and
cleantech industry risk, valuation risk, non-diversification risk,
interest rate risk, tax risk, and other risks discussed in the
Fund’s filings with the SEC. You should not place undue reliance on
forward-looking statements, which speak only as of the date they
are made. The Fund undertakes no obligation to publicly update or
revise any forward-looking statements made herein. There is no
assurance that the Fund’s investment objectives will be attained.
We acknowledge that, notwithstanding the foregoing, the safe harbor
for forward-looking statements under the Private Securities
Litigation Reform Act of 1995 does not apply to investment
companies such as us.
Contact:
Phil Mosakowski Firsthand Capital Management, Inc.
(408) 624-9526 vc@firsthandtvf.com
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