FLEXELL SPACE

About FLEXELL SPACE

FLEXELL SPACE is a South Korean space technology company specializing in next-generation solar cells for space applications. The company began as an in-house venture at Hanwha Systems before spinning off in September 2024. It was founded by Taehun (Tim) Ahn, who serves as CEO, alongside Co-Founder & CTO Dr. Shinyoung Noh and CFO Keosan Lee. Ahn previously worked in space business development at Hanwha Systems. The company has secured approximately $25 million in cumulative funding, including a Series A round of about $20 million in July 2026. The firm’s core technology is a high-efficiency, ultra-lightweight, and flexible tandem solar cell that combines Copper Indium Gallium Selenide (CIGS) and perovskite materials. This technology is designed to be a lower-cost and more scalable alternative to conventional gallium arsenide (III-V) space solar cells, offering over 60% cost savings and a significant weight reduction of over 90%. The cells are bendable, allowing them to be rolled for launch and deployed in space, which enables application on various surfaces and structures. This flexibility, combined with resistance to space radiation and extreme temperatures, supports a wide range of applications. The company is targeting an efficiency of 28-30%. FLEXELL SPACE operates on a business model focused on supplying its advanced solar power solutions to the global "New Space" industry. Its target clients include manufacturers of satellites ranging from CubeSats to large spacecraft, high-altitude unmanned aerial vehicles (HAPS), and companies developing space stations and exploration infrastructure. The company has established a pilot production facility in Uiwang, Gyeonggi Province, and aims for full-scale mass production after 2028. It is actively forming strategic partnerships and has signed agreements with aerospace firms such as Airbus, Terran Orbital, and Kongsberg NanoAvionics for joint development, supply, and in-orbit validation of its technology. The company is also leading a national R&D project in South Korea to further develop and verify its tandem solar modules in space environments.