In a significant step towards sustainable space exploration, InSpacePropulsion Technologies GmbH (ISPTech) has secured €2M in pre-seed funding. This funding round, led by High-Tech Gründerfonds (HTGF) with contributions from First Momentum Ventures and Possible Ventures, will accelerate the development of ISPTech’s innovative green propulsion systems. These advancements aim to make space travel safer and more environmentally friendly.
Non-Toxic Propulsion Systems
ISPTech is developing propulsion systems that utilize non-toxic propellants, providing a safer and more efficient alternative to traditional propellants. Their flagship technologies, HyNOx and HIP_11, are designed to support a range of spacecraft, from CubeSats to larger satellites. These systems promise enhanced performance and operational simplicity, addressing the evolving needs of the space industry.
“We spent many years researching propulsion technologies, testing the products of our current competitors and working with many of our future customers. During all these times, we saw a clear and large market demand for affordable, quickly available, and robust propulsion technologies. Our mission now is to meet this demand,” – Felix Lauck and Dr. Lukas Werling, Founders of ISPTech.
What’s the Market Potential?
The global space market is projected to grow by 7% annually, creating a rising demand for reliable and cost-effective propulsion solutions. ISPTech aims to qualify its green propulsion systems for spaceflight by 2025, positioning itself as a leader in the European space sector.
“The satellite market growth in the next decade and the increasing need for space debris avoidance maneuvers will see a huge demand for chemical propulsion systems, especially non-toxic solutions, democratizing access to space. ISPTech is the only startup offering solutions from below 1N to 1kN with high TRL and exceptionally positioned to set a new market standard,” – Dr. Koen Geurts, Investment Manager at HTGF.
German company ISPTech secures €2 million pre-seed to make a greener space economy https://t.co/4TvynvfHi6
— I'm Adam; (@adamfintech) July 2, 2024
Expert Insights
“Over the next ten years, we anticipate an increasing demand for in-space maneuvers that can only be facilitated by chemical propulsion. ISPTech is in a prime position to become the European leader in non-toxic chemical propulsion. Their systems are already way ahead of the competition in terms of performance, stability, and robustness,” – Dr. Maximilian Ochs, Investor at First Momentum Ventures.
“As the space economy expands, the demand for reliable, eco-friendly, and cost-effective chemical propulsion systems becomes indispensable. ISPTech’s innovative approach and European engineering excellence positions them as the frontrunner, and we are proud to support their mission,” – Dr. Christoph Baumeister, Principal at Possible Ventures.
The Road Ahead for ISPTech
ISPTech’s advancements in green propulsion technology represent a promising step towards a more sustainable space industry. As the company moves forward with its development and qualification goals, the potential impact on space travel and exploration could be profound. How do you think ISPTech’s green propulsion systems will transform the future of sustainable space exploration?
