Government had forced Noosphere founder to sell his control of Firefly Aerospace

WASHINGTON, July 9, 2024 /PRNewswire/ -- Noosphere Venture Partners announced today that the U.S. government has released Dr. Max Polyakov and his related companies from all conditions imposed upon them in the run-up to the Russian invasion of Ukraine.

In early 2022, the Committee on Foreign Investment in the United States, along with the U.S. Department of the Air Force, required Noosphere and Polyakov to divest all of their ownership in Firefly Aerospace: Texas-based rocket maker that Polyakov invested over $200 million in and built into a business valued in excess of $1 billion.

At the time, the government decided Noosphere's ownership of Firefly constituted a potential national security threat. Polyakov strongly disputed that he or his companies posed any threat to U.S. national security, but complied with the divestiture order to eliminate the government's concerns and preserve Firefly.  

In a May 31, 2024, letter to Noosphere, the U.S. Treasury Department confirmed that the company and Polyakov are released from all conditions and obligations that  the government imposed on Feb. 28, 2022. The U.S. Department of Air Force had communicated the same on April 08, 2022. 

These releases from the U.S. government now allow Noosphere and Polyakov to again invest  in the U.S. space and defense industry, subject, when applicable, to standard government approvals. Polyakov has publicly stated his goal to develop stronger partnerships between Ukraine and the United States in space technology, hardware and talent – Firefly Alpha's success being a prime example.

View original content:https://www.prnewswire.com/news-releases/max-polyakov-and-noosphere-released-by-us-from-restrictions-imposed-before-russian-invasion-of-ukraine-302192342.html

SOURCE Noosphere Venture Partners