Government had forced Noosphere founder to sell
his control of Firefly Aerospace
WASHINGTON, July 9, 2024
/CNW/ -- Noosphere Venture Partners announced today that the U.S.
government has released Dr. Max
Polyakov and his related companies from all conditions
imposed upon them in the run-up to the Russian invasion of
Ukraine.
In early 2022, the Committee on Foreign Investment in
the United States, along with the
U.S. Department of the Air Force, required Noosphere and Polyakov
to divest all of their ownership in Firefly Aerospace: Texas-based rocket maker that Polyakov
invested over $200 million in and
built into a business valued in excess of $1
billion.
At the time, the government decided Noosphere's ownership
of Firefly constituted a potential national security threat.
Polyakov strongly disputed that he or his companies posed any
threat to U.S. national security, but complied with the divestiture
order to eliminate the government's concerns and preserve Firefly.
In a May 31, 2024, letter to
Noosphere, the U.S. Treasury Department confirmed that the company
and Polyakov are released from all conditions and obligations that
the government imposed on Feb. 28,
2022. The U.S. Department of Air Force had communicated the
same on April 08, 2022.
These releases from the U.S. government now allow Noosphere and
Polyakov to again invest in the U.S. space and defense
industry, subject, when applicable, to standard government
approvals. Polyakov has publicly stated his goal to develop
stronger partnerships between Ukraine and the
United States in space technology, hardware and talent –
Firefly Alpha's success being a prime example.
View original
content:https://www.prnewswire.com/news-releases/max-polyakov-and-noosphere-released-by-us-from-restrictions-imposed-before-russian-invasion-of-ukraine-302192342.html
SOURCE Noosphere Venture Partners