Germany-based InSpacePropulsion Technologies GmbH (ISPTech) has raised €2 million in pre-seed funding. The round was led by three renowned deep-tech investors – HTGF (which invested in Neural Concept and StoryBox) alongside First Momentum Ventures and Possible Ventures.
The investment will be used to make ISPTech’s propulsion technologies ready for its first customers and spaceflight. It will also be used to further develop the propulsion technology to achieve qualification for space flight and serve initial customers.
What challenge does it tackle?
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 that exist on the market either lack performance or operational simplicity. ISPTech overcomes these challenges with its advanced propulsion technologies that work with green propellants.
What does the company do?
Realising the high demand for affordable, quickly available and reliable propulsion solutions, ISPTech was founded as a spin-off from the German Aerospace Center (DLR) by Lukas Werling and Felix Lauck in 2023.
The company develops innovative propulsion systems based on non-toxic, green propellants. This approach reduces overall costs, and 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 team has developed two technologies – a space-ready (HyNOx), and a unique advantage (HIP_11). HyNOx runs on Ethane and Nitrous Oxide. Contrary to competitors, it is touted to allow continuous operation at high performance without facing issues of overheating.
Talking about 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 refuelled. It also allows hybrid operation, which means electric and chemical propulsion simultaneously.
The company’s technology will be used on the first flights at the end of 2025.
The founders of ISPTech Felix Lauck and Dr. Lukas Werling in a joint statement said: “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.”
Dr. Koen Geurts, Investment Manager at HTGF added: “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. Maximilian Ochs, Investor at First Momentum Ventures added: “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. Christoph Baumeister, Principal at Possible Ventures noted: “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 position them as the frontrunner, and we are proud to support their mission.”
What do we think about ISPTech?
This pre-seed funding marks a significant step in revolutionising spacecraft propulsion. Its non-toxic, green propellant technology addresses critical issues of cost, complexity, and toxicity in current systems. By offering high-performance, affordable propulsion solutions for various spacecraft, ISPTech is poised to lead the European market, making space more accessible and environmentally friendly. Its innovative approach and robust technology show immense promise.
