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Forbes Daily Briefing

This High-Tech Factory Makes Parts For Rockets And Fighter Jets 10 Times Faster

Forbes Daily Briefing

Forbes

News, Tech News, Business

4.418 Ratings

🗓️ 20 August 2024

⏱️ 5 minutes

🧾️ Download transcript

Summary

Hadrian founder and CEO Chris Power has raised $180 million to manufacture metal parts at warp speeds at his California factory. Now he’s got plans to build a network of them across the country to make more parts better, faster and cheaper.

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Transcript

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0:00.0

Here is your Forbes Daily Briefing for Tuesday, August 20th.

0:05.0

Today on Forbes, this high-tech factory makes parts for rockets and fighter jets 10 times faster.

0:12.0

At Hadrian's Torrance, California, jets 10 times faster.

0:13.0

At Hadrian's Torrance, California factory,

0:16.0

the machines keep working after their operators go home.

0:19.0

Swing by after hours, and you'll see them,

0:22.0

displays a glow as they crank out parts in the dark.

0:24.8

Chris Power, Hadrian's 33-year-old founder and CEO, said quote,

0:30.0

we're running 24-7. There's a crew of people during the day and then it just runs itself.

0:35.0

That's what our software does for manufacturing.

0:39.0

Power's vision is somewhat different from other startups building tech to make other companies factories

0:44.0

more efficient.

0:45.6

He's developed proprietary software to run Hadrian's own factory, which allows it to churn

0:50.9

out all types of precision metal parts

0:53.3

for aerospace, space, and defense companies

0:56.0

faster, more efficiently, and with fewer people.

0:59.6

Now he wants to build out a network of cookie cutter

1:02.0

high-tech machine shops across the country to build out a network of cookie cutter high-tech machine shops across the country

1:04.0

to shake up a giant and fragmented industry. That's a difficult and capital-intensive

1:09.2

project, but one that Power argues is crucial for America's industrial base.

1:14.0

Investors, including Andresen Harowitz, Founders Fund, and Lux Capital, have bet $180 million on it,

1:21.6

and the company is now worth roughly $500 million.

...

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