Castelion
Castelion builds low-cost, mass-producible hypersonic strike missiles engineered for industrial-rate output, targeting U.S. Air Force, Navy, and Army requirements.
Background
Castelion was founded in 2022 in Southern California by three former SpaceX engineers: Bryon Hargis (CEO), Sean Pitt (COO), and Andrew Kreitz (CFO).
Castelion dates its move into a 90,000-square-foot Torrance headquarters to April 2025. Castelion identifies manufacturing operations in New Mexico, Texas and California, with offices in Washington, D.C.
The U.S. Navy awarded a production delivery order for Blackbeard hypersonic missiles in September 2026. Castelion announced parallel development of a second hypersonic product line in December 2025.
In August 2026, Castelion said it was developing an unnamed, much longer-range precision-strike weapon and air and missile defence systems using Blackbeard technologies and manufacturing methods.
Castelion broke ground on Project Ranger, a 1,000-acre campus in Sandoval County near Rio Rancho, on 21 January 2026, according to the New Mexico Economic Development Department.
The department announced plans for $220 million in private investment, approximately 300 high-wage jobs and 21 buildings for solid rocket motor production, static testing and final-round assembly, with production readiness forecast for the end of 2026.
Castelion representatives told the Rio Rancho Observer in July that 15 of the first phase's 21 buildings were complete, with first production pathfinders expected by year-end and construction continuing through 2027.
CFO Andrew Kreitz told the Albuquerque Journal in August that Castelion had committed $250 million to the first two phases and that new financing would support phases three and four, higher Blackbeard output and development and early production capabilities for the longer-range second product.
Castelion's Project Ranger page, retrieved on 9 October 2026, lists more than $300 million in private capital investment and 300-plus planned jobs, and says 20 of 21 buildings were completed within nine months of groundbreaking.
Castelion targets campus initial operational capability by year-end 2026, but its timeline forecasts preliminary production in late 2026 while its FAQ forecasts early 2027.
WIRED reported fire and chemical hazards at Project Ranger, citing a Sandia assessment and public-record emails. WIRED reported that 17 of 26 buildings would be allowed to burn in a fire and that Castelion declined comment. The Rio Rancho Observer reported that a March memorandum of understanding designated Sandoval County Fire and Rescue as the authority having jurisdiction and Rio Rancho Fire Rescue as the primary first-response agency under an automatic-aid agreement.
The Observer reported that the agreement assigned plan-review responsibilities and called for development of site safety and incident-action plans. Castelion says the site will conduct static motor tests without launches, detonations or chemical synthesis. Castelion says materials will be sealed, contained or abated, and that independent monitoring and compliance with environmental statutes will protect groundwater and air quality.
TipRanks estimated Castelion's workforce at 268 employees as of 5 October 2026. Kreitz told the Albuquerque Journal in August that approximately 300 construction workers were at Project Ranger and that company employment there could reach 300 by the end of 2027.
POLITICO reported Alec Johnson's appointment as vice president of government affairs by 24 June 2026. Castelion assigned Johnson responsibility for engagement with Congress, the Department of War and the national-security policy community.
Latest developments
- : The Pentagon Gave Missile Makers 21 Days. Only Some of Them Could Answer.
- : Castelion Raises $1 Billion to Build Hypersonic Missiles by the Thousand
- : Castelion lands its first Navy production order for the Blackbeard hypersonic
Linked records
Wired to the rest of BattlePolicy — the systems it builds in the Lexicon and the contracts it wins in the Procurement Tracker. Every link below is a record in our own datasets.
Financial footing
- Castelion announced $800M Series C equity plus $250M committed revolving credit on 19 August 2026, totaling about $1.05B and headlined as $1B
- Axios reported a $13B post-money valuation
- The Department of War records a $49,998,005 Navy order on 25 February 2026 and a $104,998,566 option modification, P00001, to that order on 24 April
- The Department of War records a $43.65M firm-fixed-price production order on 14 September for 444 Blackbeard All-Up Rounds and separately states that $44M would be obligated at award
- The U.S. Navy confirms a ceiling of up to $200M
- Backers: JPMorganChase Strategic Investment Group, Andreessen Horowitz, Carlyle, Lightspeed Venture Partners, Altimeter Capital (per Castelion)
Castelion announced $800 million in Series C equity financing and $250 million in committed revolving credit on 19 August 2026, totaling $1.05 billion and headlined as $1 billion. Axios reported a $13 billion post-money valuation.
Castelion named JPMorganChase's Strategic Investment Group, Andreessen Horowitz and funds managed by Carlyle as equity co-leads, with Lightspeed, Lavrock Ventures, Altimeter, General Catalyst, Interlagos and an account advised by T. Rowe Price Associates among the other investors.
Castelion announced $100 million in financing on 29 January 2025, comprising $70 million in Series A equity led by Lightspeed Venture Partners and $30 million in venture debt from Silicon Valley Bank, with final closing expected in February.
Castelion named Andreessen Horowitz, Lavrock Ventures, Cantos, First In, BlueYard Capital and Interlagos as equity participants. Castelion announced the closing of a $350 million Series B on 5 December 2025, led by Altimeter Capital and Lightspeed Venture Partners. WIRED reported a $2.8 billion Series B valuation.
Castelion's Series A, Series B and Series C disclosures total $1.22 billion in equity financing announced during 2025–2026: $70 million, $350 million and $800 million, respectively.
Castelion separately disclosed $30 million in venture debt and $250 million in committed revolving credit.
Castelion said it had secured more than $500 million in U.S. military contracts over the 18 months preceding its Series C announcement.
Major customers & contracts
Joined live from the Procurement & Contracts Tracker — real award/announcement records.
| Customer | System | Scale / detail | Status |
|---|---|---|---|
| United States | Blackbeard hypersonic (first Navy production order, Castelion) | 50 early operational capability pre-production prototypes and 50 storage and shipping containers | signed |
Further disclosed customers & programs (public reporting):
The U.S. Navy awarded Castelion a $49,998,005 firm-fixed-price order, N6833526F1022, on 25 February 2026 for full-scale prototypes, flight testing and operational-fielding work supporting Blackbeard development, integration, testing and early operational capability, according to the Department of War. The Department of War scheduled the Torrance work for completion in November 2027 and stated that the full amount would be obligated at award.
The Navy added a $104,998,566 option modification, P00001, to that February order on 24 April, covering final EOC requirements, test and integration configurations, and live-fire test events in the Indo-Pacific Command area of responsibility, according to the Department of War. The Department of War scheduled completion of the modification for January 2028 and stated that the full modification amount would be obligated at award.
A separate Navy order awarded on 11 June 2026 provided $23,350,000 for 50 EOC pre-production prototypes and 50 shipping/storage containers, with work split between Rio Rancho, New Mexico, at 75% and Torrance, California, at 25%, according to the Department of War. The Department of War scheduled completion for December 2027 and stated that the full amount would be obligated at award.
The Navy awarded another $89,997,162 order on 25 August for engineering, technical, logistics and manufacturing services supporting 50 EOC weapons, transition to a Navy Program of Record and Defense Exportability Features design modifications, with completion scheduled for August 2028, according to the Department of War. Castelion targets Blackbeard fielding in 2027.
The Navy awarded a $43,650,000 firm-fixed-price production order on 14 September 2026 for 444 Blackbeard All-Up Rounds, defined as fully functional tactical missiles packaged in specialized shipping/storage containers, according to the Department of War.
The Department of War separately states that $44,000,000 would be obligated at award, with work split between Rio Rancho at 80% and Torrance at 20% and completion scheduled for September 2028. The U.S. Navy confirms a production delivery-order ceiling of up to $200 million, distinct from the initial order value and obligation amount.
The U.S. Army's FY2026 budget justification requested $25 million for HX3/Blackbeard Ground Launch development, flight testing, software validation and HIMARS integration, describing the weapon as a companion to the Common Autonomous Multi-Domain Launcher with HIMARS compatibility as an interim solution. On 29 September 2026, the U.S.
Army awarded Castelion one of five Other Transaction Authority agreements for PrSM Increment 4 prototypes, requiring M142 HIMARS launch and engagement of moving maritime and relocatable land targets at ranges of at least 1,000 km. The U.S. Army schedules an initial competitive fly-off and down-select in FY2027 and a further competition in FY2028, without disclosing Castelion's award value or proposed missile designation.
AFRL at Wright-Patterson awarded Castelion a $16,369,996 modification on 17 September 2026 for low-cost, highly manufacturable long-range strike weapon production, raising cumulative contract face value from $20,857,516 to $37,227,512, according to the Department of War.
The Department of War states that the modification amount was obligated at award and schedules work in Torrance through 30 June 2028.
The Department of War announced on 13 May 2026 that, after Castelion achieves testing and validation, it would award a two-year multiyear procurement contract for at least 500 Blackbeard missiles annually, with extension options up to five years.
The Department of War said it was seeking authorizations and appropriations to purchase more than 12,000 missiles over five years.
Leadership & contact surface
Leadership: Bryon Hargis
Official site: https://www.castelion.com
Competitive position
Castelion competes with Anduril, Lockheed Martin, Mach Industries and RTX in the Army's PrSM Increment 4 prototype programme, following five agreements awarded on 29 September 2026 by the U.S. Army. The U.S.
Army requires HIMARS launch and engagement of moving maritime and relocatable land targets at ranges of at least 1,000 km, with an initial competitive fly-off and down-select in FY2027 and a final competitive fly-off in FY2028.
The Army's earlier HX3/Blackbeard GL development plan sought approximately 80% of PrSM Increment 4 capability at substantially lower cost, Breaking Defense reported from FY2026 budget documents. The U.S.
Army's PrSM Increment 4 announcement does not identify Castelion's proposed missile as Blackbeard GL. Beyond Blackbeard, Castelion said it is developing a longer-range precision-strike weapon and air and missile defence systems.
Battlefield relevance
The Navy's air-launched Blackbeard programme is Multi-mission Affordable Capacity Effector, or MACE, with the F/A-18E/F Super Hornet as its initial aircraft platform, according to The Aviationist.
The Navy's Portfolio Acquisition Executive Aviation confirmed a developmental captive-carry flight at NAS Patuxent River with two Blackbeard test articles on an F/A-18E/F; no weapons were released or live-fired, and the aircraft and both articles returned safely. The Navy said testing would continue toward future live-fire milestones. Castelion targets Blackbeard fielding in 2027.
The War Zone reported that Castelion published an image on 8 October 2026 showing Blackbeard leaving a containerized launcher mounted on a high-mobility truck.
The War Zone identified the image with Blackbeard GL development and said the launcher's relationship to the eventual production pod remained unclear.
Castelion and Saronic announced plans on 11 June 2026 to integrate Blackbeard with Saronic's Marauder medium unmanned surface vessel, targeting a maritime launch demonstration in 2027.
Castelion and Saronic said a 24-foot Corsair autonomous surface vessel supported a Blackbeard flight test in late 2025 as an at-sea telemetry and communications node.
Castelion records its first Department of Defense-sponsored flight in February 2025, AFWERX STRATFI selection in March 2025 and its 21st flight test of that year at San Nicolas Island/Point Mugu Sea Range in December.
Castelion said its more than 20 development flights during 2025 tested internally manufactured motors, actuation systems, flight computers, seekers, thermal protection and mission software.
Sources & verification
- https://labusinessjournal.com/la500-2026/technology-2026/la500-2026-andrew-kreitz/
- https://techfundingnews.com/hypersonic-missile-startup-funding-castelion/
- https://www.businesswire.com/news/home/20250129937934/en/Castelion-Announces-100M-Financing
- https://www.caplight.com/company/castelion
- https://www.linkedin.com/posts/space-insider_castelion-a-defense-manufacturer-based-in-activity-7290790898051801089-4_jT
- https://www.cbinsights.com/company/pallas-industries
- https://www.castelion.com/news/series-b/
- https://www.builtinla.com/articles/castelion-raises-350m-series-b-20251208
- https://startupintros.com/orgs/castelion
- https://www.linkedin.com/company/castelion
- https://www.nasdaqprivatemarket.com/company/castelion/
- https://www.facebook.com/forbes/posts/three-year-old-castelion-is-worth-28-billion-after-raising-350-million-to-fund-i/1250713213585333/
- https://equityzen.com/company/pallas4707/
- https://www.castelion.com
- https://www.youtube.com/watch?v=jaXzkKRJOLI
- Castelion announced on Sept. 14, 2026
- The Aviationist reported
- Castelion
- Axios
- $49,998,005 Navy order on 25 February 2026
- $104,998,566 option modification, P00001, to that order on 24 April
- Department of War
- U.S. Navy
- Castelion
- New Mexico Economic Development Department
- Rio Rancho Observer
- Albuquerque Journal
- Castelion's Project Ranger page
- WIRED
- Rio Rancho Observer
- TipRanks
- POLITICO
- Castelion
- Castelion
- Department of War
- Department of War
- U.S. Army's FY2026 budget justification
- U.S. Army
- Department of War
- Department of War
- Navy's Portfolio Acquisition Executive Aviation
- The War Zone
- Castelion and Saronic
Analyst verdict Pro
Castelion's cost-and-volume proposition now has a contracted production lot behind it: the Department of War records a $43.65 million firm-fixed-price Navy order for 444 Blackbeard All-Up Rounds on 14 September 2026. The Department of War separately lists $44 million to be obligated at award, while the U.S.
Navy confirms a ceiling of up to $200 million. The larger procurement opportunity remains conditional: the Department of War places annual purchases of at least 500 missiles after testing and validation and is seeking authority and funding for more than 12,000 missiles over five years.
The $13 billion post-money valuation reported by Axios places substantial weight on a production ramp that Castelion still schedules ahead, with Project Ranger initial operational capability targeted for year-end 2026.
Castelion gives conflicting preliminary-production dates: late 2026 in its project timeline and early 2027 in its FAQ. The Navy confirms that Super Hornet testing was captive carry, with no weapons released or live-fired. Blackbeard fielding in 2027 remains Castelion's target.
Watch for a demonstrated Super Hornet missile release and live fire, beyond the captive carry confirmed by the Navy. Watch Castelion's position in the PrSM Increment 4 competition, for which the U.S.
Army schedules an initial fly-off and down-select in FY2027 and a further competition in FY2028. Watch whether Congress supplies the authorizations and appropriations sought by the Department of War for the five-year, 12,000-plus-missile ambition.
Last updated: 9 October 2026, 11:06 am PT