Orbit Fab has appointed Peter Shaper as chief executive and raised over $25 million in interim funding from Stride Capital. The Colorado-based satellite refueling company is transitioning from technology development to commercial operations. Shaper, who has three decades of private equity experience, previously led satellite services companies CapRock Communications and Speedcast. He aims to commercialise Orbit Fab's RAFTI docking and refueling interface technology. The company has three demonstration missions scheduled for the next 18 to 24 months, designed to refuel government satellites using hydrazine fuel shuttles. These demonstrations could unlock over $40 million in contracts for on-orbit refueling services. Orbit Fab is preparing to raise between $30 million and $50 million in a Series B round later this year. The funding will support at least two demo missions in 2027 and initial commercial contracts, targeting primarily US military customers.

Orbit Fab has raised $20 million in a Series B round led by Stride Capital as it transitions from developing on-orbit refuelling technology to large-scale commercialisation. The funding will strengthen the company's capital foundation as it enters its next growth phase. Alongside the fundraising, CEO Daniel Faber has stepped down from day-to-day responsibilities. The company has established an Executive Committee to ensure stability and operational continuity during the leadership transition. The round marks a decisive stage in Orbit Fab's evolution as it scales its on-orbit refuelling capabilities.