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.