Booster CEO Frank Mycroft.
Booster CEO Frank Mycroft

Booster Fuels, a new Seattle-based startup led by a former Planetary Resources executive, has raised a $3.1 million funding round from Madrona Venture Group and other investors.

Frank Mycroft, previously the VP of Strategy at Redmond-based asteroid-mining company Planetary Resources, is CEO and co-founder of Booster. GeekWire discovered the company and the funding through an SEC filing. Mycroft confirmed the investment round, which also included participation from Planetary Resources co-founder Eric Anderson and other angel investors whom Mycroft described as “world class.”

The CEO wouldn’t divulge many more details about Booster, other than saying that the startup has a “very massive vision that will positively impact the globe” and is in the transportation industry. He said there’s a “handful of employees” working for the company.

Anderson, who is also the co-founder of Space Adventures and the CEO of Intentional Software, is listed as Booster’s chairman in state corporations records. Madrona’s Matt McIlwain is named as a director in the SEC filing.

The company’s website is currently bare-bones, with just a logo and a sign-up form to receive more information.

Mycroft, who has degrees from Stanford and Harvard Business School, spent nearly three years at Planetary Resources, a company he described as “unbelievable.” He previously worked for NASA and Boeing.

Like what you're reading? Subscribe to GeekWire's free newsletters to catch every headline

Job Listings on GeekWork

Find more jobs on GeekWork. Employers, post a job here.