Firehawk Defense Raises Over $150M in Series D for Propellants

Firehawk Defense, a U.S. maker of propellants and rocket motors for the defense industry, has raised more than $150 million in a Series D round. Investor Rochefort Asset Management announced the deal on Thursday local time, saying it co-led the round with Advent International. Rochefort had already provided the company with senior secured debt financing in April.

The company will use the money to expand its manufacturing site in Lawton, Oklahoma, and its missile integration facility in Crawford, Mississippi. The goal is to speed up production of artillery motors, solid rocket motors, energetics and propellants for U.S. and allied customers. Valuation and total funding were not disclosed.

Why demand is rising

According to Rochefort, continued munitions consumption in Ukraine and the Middle East has drawn down stockpiles of artillery and rocket propulsion systems in the U.S. and allied countries. Base bleed, which extends the range of standard 155mm shells, is also in limited supply because of supply chain constraints. Rochefort believes Firehawk, working with General Dynamics Ordnance and Tactical Systems, is positioned to supply base bleed motors for international demand for extended-range projectiles.

A faster way to make propellant

Firehawk's edge lies in its process. Instead of the traditional cast-and-cure method, it uses a continuous thermoplastic manufacturing platform that forms propellant in hours rather than weeks. The company plans to extend this approach from propellant to motors and eventually to finished munitions.

Based in Dallas, Texas, Firehawk currently makes propellant for solid rocket motors and Hydra-70 rocket motors, and is developing base bleed motors for 155mm shells. The Crawford facility is already operating and integrating Hydra-70 rockets. After winning an Other Transaction Authority contract from the U.S. Army, the company fired six Hydra-70 rockets at Yuma Proving Ground in August, and all six succeeded. The Army's annual Hydra-70 purchases can exceed 330,000 rockets, depending on operational requirements. Firehawk also holds a U.S. Air Force solid rocket motor development contract.

The Lawton propellant plant, called Great Plains Arsenal, is due to start operating in early 2027. It is planned to produce 740,000 pounds of thermoplastic propellant a year, with capacity expandable beyond 3.1 million pounds.