In space, power is everything. Satellites, spacecraft, and other space systems need reliable energy to operate, communicate, collect data, and complete their missions. But launching things into space is complicated and capacity is limited, so every component has to earn its place. The heavier a power system is, the more it can constrain mission design, increase launch costs, and displace other critical equipment.

That makes lightweight, compact solar technology especially mission-critical: it must generate dependable power while being as efficient as possible.

That is where Verde Technologies, a CORI Innovation Fund portfolio company, sees a major opportunity.

Based in Waterbury, Vermont, Verde is developing next-generation thin-film perovskite solar technology: ultra-lightweight, flexible solar panels designed to deliver high power with far less weight than traditional solar panels.

Why space, and why now

Verde’s focus on space markets is strategic. The commercial space economy is growing quickly, driven by rising demand for satellites, Earth observation, national security applications, and other space-based services. As more companies and governments look to space infrastructure to power critical systems, the need for reliable, lightweight, high-performance energy solutions is becoming more urgent. That creates a clear opening for Verde.

Space also offers Verde a timely path to commercialize and scale its technology today, while supporting the company’s longer-term vision of bringing lower-cost, flexible solar technology into broader markets here on Earth.

The company’s momentum is backed by both public and private validation. Verde closed a priced investment round earlier in 2026 with support from existing and new investors, won the grand prize in the U.S. Perovskite Startup Prize, and has received support from the Department of Defense, the National Science Foundation, and the Department of Energy.

New leadership for Verde’s next stage

Jean-Noël Poirier the new Chief Executive Officer at Verde Technologies.

Verde recently announced the appointment of Jean-Noël Poirier as Chief Executive Officer, effective July 8. His appointment comes as the company enters a critical scale-up phase and expands into high-value markets, including the space sector.

Poirier brings deep experience in advanced manufacturing, clean energy commercialization, and investment. He is a former global executive at Honeywell and has helped bring advanced solar technologies to market through leadership roles at First Solar and Global Solar Energy. That combination of operating experience and commercialization focus is important for Verde as it moves from breakthrough technology toward scaled market adoption.

“I am thrilled to join Verde at this inflection point,” Poirier said. “Verde’s perovskite technology is an enabling solution in the space market today, and it has the potential to transform solar energy everywhere.”

As part of the transition, Verde co-founder and current CEO Chad Miller will become Chief Technology Officer, allowing him to focus full-time on advancing the company’s technology roadmap.

Expanding the map of innovation

Verde’s story is part of a broader shift that the CORI Innovation Fund is working to accelerate.

Too often, the innovation economy is treated as if it belongs only in a handful of major cities. But companies like Verde show what is possible when ambitious founders, experienced operators, strong technical ideas, and mission-aligned capital come together outside traditional venture markets.

That is central to the mission of the CORI Innovation Fund: closing the capital gap for promising technology companies building in rural communities and smaller markets and demonstrating that investing in these companies is not a concession — it is an opportunity.