PENROSE, CO–(KAL Capital Markets)–Estes Energetics (“Estes Energetics” or “the Company”), a U.S.-based leader in solid rocket motors, black powder, and critical energetic chemicals for defense and commercial applications, today announced it has been acquired by Voyager Technologies, Inc. (NYSE: VOYG), a publicly traded defense and space technology company committed to advancing mission-critical solutions across defense, space, and national security domains.
Founded in 2021 as a spinout from model rocket manufacturer Estes Industries, Estes Energetics has rapidly established itself as a critical player in the U.S. defense industrial base. The company provides comprehensive “ground-to-round” capabilities spanning the entire solid rocket motor supply chain, from raw materials sourcing through tactical rocket motor production.
Estes Energetics’ core capabilities include:
- Solid Rocket Motors: Complete design, development, production, and testing capabilities for tactical and aerospace applications
- Critical Chemicals: Production of essential energetic materials including potassium nitrate, barium nitrate, strontium compounds, potassium chlorate, and potassium perchlorate
- Black Powder Manufacturing: Following its acquisition of GOEX Industries, Estes Energetics is the only commercial-scale manufacturer of military-grade black powder in the United States—a critical igniter component in solid propellant systems
Strategic Significance to the Defense Industrial Base
Estes Energetics occupies a uniquely strategic position in the U.S. defense supply chain. The company’s black powder production capability represents the only domestic source for this critical material, which serves as an essential igniter in solid propellant systems used across missile defense platforms and tactical munitions. This domestic production capacity has become increasingly vital as the Pentagon accelerates munitions orders and seeks to reduce foreign supply chain dependencies.
The company’s comprehensive chemical production capabilities address long-standing supply chain vulnerabilities in energetic materials. Key inputs such as nitrates, perchlorates, and other energetic chemicals have historically relied on overseas production, creating bottlenecks across critical missile and interceptor programs. Estes Energetics’ vertically integrated approach—spanning from raw material sourcing through finished product delivery—directly supports Department of Defense onshoring initiatives and strengthens national security readiness.
“We are closing a key gap in our national readiness posture by ensuring American leadership over energetics, which are foundational to how we protect, maneuver and project strength,” said Dylan Taylor, Chairman and CEO, Voyager. “This significantly strengthens the position of our propulsion capabilities from ground to orbit. As global supply chains become increasingly fragile, these capabilities must be built, qualified and safeguarded here at home, with transparent certification, rigorous safety oversight and the surge capacity to meet urgent operational needs.” (Voyager Technologies Press Release, November 20, 2025)
KAL Capital served as exclusive financial advisor to Estes Energetics in the transaction. Davis Graham & Stubbs LLP served as legal advisor to Estes Energetics, Morgan, Lewis & Bockius LLP advised Voyager Technologies.
About Estes Energetics
Estes Energetics addresses supply chain challenges facing the DoD by providing responsive, innovative, and cost-effective manufacturing of solid rocket propellants, chemicals, and energetic materials while also seeking commercial opportunities in the space launch, fine chemicals, and pyrotechnics industries. For more information visit: estesenergetics.com
About Voyager Technologies
Voyager Technologies is a defense and space technology company committed to advancing and delivering transformative, mission-critical solutions. By tackling the most complex challenges, Voyager aims to unlock new frontiers for human progress, fortify national security, and protect critical assets from ground to space. For more information visit: voyagertechnologies.com