In 2021-22, the US government imposed limitations and obligations on Ukrainian businessman Max Polyakov, which led to the sale of the Firefly Aerospace shares. Now, company representatives have announced that all restrictions imposed on him and his companies have been lifted. Max Polyakov and Noosphere can again invest in the American space industry.
How Firefly Aerospace was taken away from Max Polyakov
On July 9, 2024, Noosphere Venture Partners representatives announced that the US government had lifted all bans and restrictions imposed on its owner, Ukrainian businessman Max Polyakov, back in 2022.
In 2017, Dr. Max Polyakov saved the American company Firefly Aerospace from bankruptcy. Over the course of several years, the Ukrainian businessman invested more than $200 million of his own money. Under his leadership, the Alpha launch vehicle conducted its maiden launch in 2021.
In 2022, Polyakov sold his stake in Firefly Aerospace on the U.S. government’s demand. The company was already estimated to be worth $1 billion.
In the end, the Committee on Foreign Investment and the US Air Force concluded that Polyakov might be a potential national security concern. The Ukrainian businessman denied this, but agreed to divest himself in order to save Firefly Aerospace.
What has changed now
According to the company’s announcement, all restrictions on Dr. Polyakov and related companies have now been lifted. The US Treasury Department stated this in a letter sent to Noosphere Venture Partners.
Now, Polyakov is officially allowed to invest in the US space industry again. However, this should be done through the US government’s standardized authorization procedure.
The businessman has already declared his readiness to expand cooperation between Ukraine and the United States in this area. An excellent example of this is Firefly Alpha’s success.
Source: www.prnewswire.com
