Orbion Space Technology, a leading supplier of high-performance Hall-effect propulsion systems for small satellites, has won the Michigan Venture Capital Association (MVCA) Financing of the Year award at this year’s annual event. Earlier this year, the Michigan-based company raised $20 million in Series B funding. The new funding will allow Orbion to scale up production of plasma thrusters. Beringea U.S. participated in the Series B round.

“Orbion is honored to win Financing of the Year from the Michigan Venture Capital Assocation,” said Brad King, CEO and co-founder of Orbion. “Big thanks to our investors and everyone else who shares and supports Orbion’s vision to Propel the Small Satellite Revolution!”