Financing round for satellite propulsion startup

© Enpulsion

The Austrian startup Enpulsion has concluded a round of financing led by the businessman and investor Alon Shklarek and supported by aws Seedfinancing, following funding provided by the EU funding program “Horizon 2020”, which also took place in 2017.

The additional financial resources will be primarily used to expand production capacities for satellite propulsion technology, in order to fulfil growing demand, especially from the USA. The modular propulsion systems are mainly required for small satellites which are being deployed in increasing numbers to carry out tasks such as weather forecasting or the transmission of TV and Internet signals. Frequently swarms of mini-satellites are placed in orbit. Conventional engines with a comparable performance can be up to ten times bigger and cost about EUR 600,000. In contrast, the propulsion system developed by Enpulsion costs only about EUR 30,000 apiece. The technology applied in Enpulsion’s production process is based on more than 15 years of research and development work. The technology was developed in cooperation with the European Space Agency (ESA) at FOTEC, the research company of the University of Applied Sciences Wiener Neustadt.