The orbit where satellites are launched usually isn’t the one they need to operate in. Most launch vehicles put payloads into low Earth orbit because it’s cheaper and easier to reach. But communications, navigation, and intelligence satellites operate in higher orbits, such as geostationary (GEO), medium Earth orbit (MEO), and even lunar orbits.
Right now, electric propulsion systems fill this gap, but they are fuel-efficient and move slowly. It takes six to twelve months to reach the operational orbit. For commercial operators, this means their investment sits idle, revenue is delayed, and they face risks. For defence customers dealing with increasing threats, the stakes are even higher.
Founded in Lausanne in 2024, PAVE Space offers a new approach: a fleet of high-performance orbital transfer vehicles (OTVs) capable of completing these trips in less than 24 hours.
The company raised $40 million in seed funding, one of the biggest rounds worldwide in the space sector, to develop its hardware. Visionaries Club and Creandum led the round, with support from Lombard Odier Investment Managers, Atlantic Labs, Sistafund, b2venture, ACE Investment Partners, Ilavaska Vuillermoz Capital, and Pareto & Motier Ventures.
From student rocketry to building sovereign orbital infrastructure
PAVE was co-founded by Julie Böhning and Jérémy Marciacq, engineers from EPFL. Instead of working in a corporate lab, they built their reputation as students who led the Gruyère Space Program, Europe’s first reusable-rocket initiative.
They completed 53 test flights on a budget of about CHF 250,000, gaining outstanding technical experience for every franc spent.
PAVE handles everything in-house, from propulsion and avionics to guidance algorithms and structures. In a market where supply chain delays are common, this gives them a strategic edge and faster turnaround.
Why storable bipropellants, and why now
With more than 12,000 active satellites and thousands launched every year, managing orbital traffic is a big challenge. PAVE’s technology meets the rising demand for flexible, cross-orbit movement, which is becoming more important for both industry and governments.
Cryogenic propellants like liquid hydrogen and liquid oxygen are highly fuel-efficient but have a major drawback: they evaporate at room temperature. This makes them unsuitable for missions that need long stays in orbit, repositioning, or multiple payload drops.
Every hour spent at the station reduces the fuel available.
Storable bipropellants, typically nitrogen tetroxide and hydrazine-based fuels, trade some efficiency for stability. They stay liquid at normal temperatures, don’t require active cooling, and can remain in tanks for months or years without fuel loss.
For vehicles meant to loiter, make precise altitude changes, and serve multiple customers, this stability is a must.
Europe’s sovereign solution to a fragmented market
Several well-funded companies are tackling related challenges: Orbit Fab works on in-space refuelling infrastructure, D-Orbit provides hosted payload and ride-sharing services, and Exotrail develops electric propulsion for small satellites.
PAVE stands out as Europe’s first sovereign orbital logistics provider, with launch independence and supply chain control as top priorities. Its dual-use design serves commercial operators who need schedule-driven deployments and defence customers who require rapid orbital repositioning on short notice.
The $40 million positions PAVE to reach its in-orbit demonstration without a near-term fundraising distraction.
