Isar Aerospace signs contract with European Space Agency as first German company under ESA C-STS
Munich, 02 Nov 2020 - Isar Aerospace successfully signed contracts under the first funding programme for commercial space transportation companies by the European Space Agency (ESA) in Europe. As part of the Commercial Space Transportation Services and Support Programme (C-STS) called “Boost!”, Isar Aerospace gets a funding of 500.000 Euros to finance the development of test rig systems and further expand capabilities in its newly opened production site in Ottobrunn/Munich. According to ESA, Isar Aerospace is the first German company to sign contracts under C-STS.
“We are very happy that ESA starts to fund commercial space transportation initiatives, which are rooted and developed in and for Europe. There would be no SpaceX without NASA. And there will be no European equivalent without European state support. Therefore, we regard this as a first important step into the right direction”, says Daniel Metzler, CEO of Isar Aerospace.
Isar Aerospace is the only privately-financed European space company which offers a completely in-house developed launch vehicle suitable for entire satellite constellations – one of the most promising and important sectors of the global space industry. Isar Aerospace has developed its rocket from scratch and thereby ensures that the entire added value is generated within the European Union.
The “Boost!” programme was initiated by a microlauncher competition, introduced by the German Ministry of Economic Affairs and Energy and designed by the German Aerospace Center (Deutsches Zentrum für Luft- und Raumfahrt, DLR). In the main round, two German space start-ups will be funded with 11 million Euros each to provide European companies and institutions with flexible and cost-efficient access to space.
About Isar Aerospace
Isar Aerospace is a fast-growing company that is developing and producing a new generation of flexible and affordable rockets to lower the entry barriers to space. Exploiting the latest in design and production technologies, Isar Aerospace’s propulsion systems achieve significantly lower emissions and offer a sustainable option for launching satellites and satellite constellations into low Earth orbit. The company is supported by major international investors, including Earlybird, Airbus Ventures, Bulent Altan, Vito Ventures, Apeiron and UnternehmerTUM.
Press contact
Tina Schmitt
E tina.schmitt@isaraerospace.com
