ISPTech secures 2 million euros in pre-seed financing

ISPTech receives 2 million euros in pre-seed funding for the development of sustainable propulsion technologies. The startup aims to revolutionize the space industry with green propellants

Lampoldshausen, July 2, 2024 - InSpacePropulsion Technologies GmbH (ISPTech) has successfully completed a pre-seed financing round of 2 million euros. The startup develops innovative propulsion systems for spacecraft based on non-toxic "green" fuels. These offer cost-effective, readily available and reliable solutions for the space industry and are aimed at spacecraft of all sizes, from small CubeSats to large satellites.

Investors and support

The financing round is led by High-Tech Gründerfonds (HTGF). First Momentum Ventures and Possible Ventures are also participating. The fresh capital will be used to provide the propulsion technologies for the first customers and missions.

The growth of the satellite market in the next decade and the increasing need for space debris avoidance maneuvers will lead to a huge demand for chemical propulsion systems, especially for non-toxic solutions that democratize access to space.

Dr. Koen Geurts, Investment Manager at HTGF

Technology and research

ISPTech's technology is based on more than 10 years of research and development at the German Aerospace Center (DLR). ISPTech offers two main technologies: HyNOx and HIP_11. HyNOx utilizes ethane and nitrous oxide, which enables continuous operation at high power. HIP_11 is designed for larger spacecraft and offers hybrid operation of electric and chemical engines.

Sustainability and efficiency

ISPTech's propulsion systems are environmentally friendly and reduce complexity and cost compared to conventional systems. The space market is growing at around 7% annually and ISPTech is well positioned to meet this demand with its affordable and reliable solutions.

Initial successes and future prospects

Since its foundation in summer 2023, ISPTech has acquired its first paying customers and signed the contract for a flight into space. The first propulsion systems have been qualified for use in space. With the new funds, ISPTech plans to further develop the technology and launch the first missions at the end of 2025.

About the startup

ISPTech, a DLR spin-off, is dedicated to the development of sustainable propulsion technologies for spacecraft. With advanced research and innovative solutions, ISPTech aims to revolutionize the space industry and make a significant contribution to the circular economy.