Towards a Greener Space Economy
ISPTech Secures €2M in Pre-Seed Funding for Innovative Spacecraft Propulsion Technology
InSpacePropulsion Technologies GmbH (ISPTech), a spin-off from the German Aerospace Center (DLR), announces the closing of its €2M pre-seed round. ISPTech is addressing a key challenge that satellite manufacturers and operators face, by developing innovative propulsion systems based on non-toxic, so-called “green” propellants. This approach allows significantly reduced overall costs, rapid availability and simplifies spacecraft operations. The propulsion systems offer superior performance compared to the current green propulsion market standard. With its solutions, ISPTech addresses any spacecraft, from small CubeSats to large satellites, capsules or landers.
The round is led by HTGF and backed by co-investments of First Momentum Ventures and Possible Ventures, three renowned deep-tech investors. The investment will be used to make ISPTech’s propulsion technologies ready for its first customers and spaceflight.
Current in-space propulsion systems are expensive, complex and operate with highly toxic propellants. These toxic propellants cause extensive handling efforts, which complicate and slow down the development and qualification process of propulsion systems, besides increasing the overall costs. In addition, alternative solutions currently on the market either lack performance or operational simplicity. These key challenges ISPTech has overcome: based on more than 10 years of R&D work at the German Aerospace Centre (DLR), ISPTech’s founders developed advanced propulsion technologies that work with green propellants.
The team has developed two technologies: one is space-ready (HyNOx), and one offers unique advantages (HIP_11). HyNOx runs on Ethane and Nitrous Oxide. Contrary to competitors, ISPTech’s system allows continuous operation at high performance without facing issues of overheating.
HIP_11 is a unique propulsion technology for large spacecraft like landers, capsules, and satellites. It offers less complexity and cost than other systems with similar thrust levels and will be refuellable. It also allows hybrid operation, i.e. electric and chemical propulsion simultaneously. The space market is expected to grow 7% per year and thus has a high demand for affordable, quickly available and reliable propulsion solutions. By using its advanced technologies, ISPTech will satisfy this demand and propel the whole space ecosystem. ISPTech already showed a fast pace and made significant progress: after its foundation in summer 2023 first paying customers were acquired, a paid flight into space was won and the first thrusters were qualified for space. Furthermore, major space players emphasized their interest in the technologies.
The acquired funding will be used to further develop the propulsion technology to achieve qualification for space flight and serve initial customers. ISPTech’s technology will be used on first flights at the end of 2025. These missions will demonstrate the operationality, robustness and performance of ISPTech’s propulsion systems and space qualify the propulsion system for wider market adoption.
"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 , Founder of ISPTech.
"The satellite market growth in the next decade and the increasing need for space debris avoidance manoeuvres 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.
"Over the next ten years, we anticipate an increasing demand for in-space manoeuvres 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.
Other news from the department business & finance
Get the chemical industry in your inbox
From now on, don't miss a thing: Our newsletter for the chemical industry, analytics, lab technology and process engineering brings you up to date every Tuesday and Thursday. The latest industry news, product highlights and innovations - compact and easy to understand in your inbox. Researched by us so you don't have to.
Most read news
More news from our other portals
Possible trigger of Crohn’s disease discovered
Dysfunctional mitochondria disrupt the gut microbiome
Cost-effective modular system for optical imaging from the 3D printer
Like building with Lego bricks
Something is happening in the chemical industry ...
This is what true pioneering spirit looks like: Plenty of innovative start-ups are bringing fresh ideas, lifeblood and entrepreneurial spirit to change tomorrow's world for the better. Immerse yourself in the world of these young companies and take the opportunity to get in touch with the founders.
