Space infrastructure startup plans more than 200 high-wage jobs and $480 million in projected economic impact
ALBUQUERQUE, N.M. and KENNESAW, Ga. (Dec. 8, 2025) — Mantis Space, a space and advanced energy startup developing the world’s first power grid in space, today announced Albuquerque, New Mexico, as the location for its new headquarters and advanced research and manufacturing operations.
Founded in Kennesaw, Georgia, by space industry veterans and backed by venture studio Montauk Capital, Mantis Space is developing orbital infrastructure designed to deliver power directly to on-orbit assets, including satellites, space habitats, and future lunar operations. The company is expected to officially emerge from stealth in early 2026.
Mantis Space’s planned investment is projected to generate more than $480 million in economic impact for the City of Albuquerque and the State of New Mexico over the next decade. The project will create more than 200 high-wage technology jobs, with average salaries exceeding $180,000 annually, further strengthening the region’s growing aerospace and advanced energy ecosystem.
“Albuquerque exceeded nearly all of our criteria during a highly competitive national search,” said Eric Truitt, CEO of Mantis Space. “We were impressed by the leadership, collaboration, and commitment shown by the State of New Mexico, the City of Albuquerque, and their economic development teams. The combination of talent, quality of life, and a strong incentive package made Albuquerque the clear choice. We look forward to helping position New Mexico as a national leader in space and advanced energy innovation.”
To support the project, Mantis Space will receive $2.5 million through New Mexico’s Local Economic Development Act (LEDA) program and $500,000 from the City of Albuquerque.
Orbital infrastructure is expected to play a foundational role in the rapidly expanding global space economy, which analysts project will exceed $1 trillion by the early 2030s, enabling new capabilities such as off-planet data centers and space-based manufacturing with potential environmental benefits on Earth.
“Mantis Space is addressing one of the most critical challenges in the emerging space-energy sector,” said Philip Krim, co-founder and CEO of Montauk Capital. “Their vision and engineering-driven approach align perfectly with the kind of industry-defining innovation we seek to support.”
New Mexico continues to gain recognition as a hub for advanced technology, aerospace, and defense innovation, with recent expansions and investments from companies such as Pacific Fusion and Castelion.
“Today’s announcement underscores New Mexico’s role in shaping the future of advanced industries,” said Gov. Michelle Lujan Grisham. “With world-class research institutions, exceptional talent, and a growing innovation ecosystem, our state is well-positioned to support transformative companies like Mantis Space.”
“Albuquerque continues to prove that we are a center for innovation and future-focused technology,” said Mayor Tim Keller. “Investments like this create high-quality jobs and strengthen an economy that works for everyone.”
“The next era of advanced technology begins here,” said Rob Black, Cabinet Secretary of the New Mexico Economic Development Department. “Mantis Space’s decision reflects the strength of our workforce, collaborative approach, and competitive tools supporting growth in the space and defense sectors.”
“Economic growth comes from bold planning and strategic partnerships,” said Max Gruner, Economic Development Director for the City of Albuquerque. “This project will create lasting prosperity and new opportunities for our community.”
The project was supported through collaboration with STEM Boomerang New Mexico and the Albuquerque Regional Economic Alliance (AREA).
“Mantis Space joins a growing lineup of advanced industry companies expanding in Greater Albuquerque,” said Chad Matheson, interim president and CEO of AREA. “We were proud to help showcase the region’s aerospace strengths and support this transformative project.”
Media Contacts
New Mexico Economic Development Department
Chris Chaffin, Director of Communications
📞 505-490-7962
✉️ chris.chaffin@edd.nm.gov
City of Albuquerque Economic Development Department
Sara Mannal, Community Outreach Manager
📞 505-932-8450
✉️ smannal@cabq.gov
Mantis Space
✉️ maija.ehlinger@mantis.space
Montauk Capital
✉️ cynthia@tusk.vc
