Orbital Technologies Corp. (Orbitec) is dividing its activities into five separate business units as a way to move its products to market.
The autonomous business units will be:
Propulsion, space resources and energy systems, for civilian and military space use.
Human support systems, including environmental and life support projects for commercial and space use.
Emergency response systems, for civilian and military use.
BioProducts and bioproduction systems.
Interactive 3D training systems and services.
Orbitec's products include systems to grow plants in space and rocket engines. Its headquarters are at 1212 Fourier Drive, with manufacturing and laboratory space in Middleton and a product testing facility in Baraboo.
Founded in 1988, Orbitec plans to issue new common stock to raise $3 million. It's the first time the company is opening its stock to new investors since about the time of Orbitec's inception. The stock is not publicly traded.
"We're staging for very significant growth in each of these areas," said president and chief financial officer Tom Crabb.
Orbitec, which has about 75 employees, has retained NORROC Partners, San Francisco, for strategic and financial advice on the stock issuance, and Quarles & Brady and Grant Thornton for legal and accounting services.