Space commercialization gains momentum: Isar Aerospace signs additional EUR 15m ESA contract
EUR 15m contract from European Space Agency (ESA) through the Boost! program
Contract adds to Isar Aerospace’s strong position, having secured over EUR 400m in private funding
Further signals needed for a change towards commercialization ensuring global competitiveness and creating sovereign access to space in Europe
Munich, 19 November 2024 – Satellite launch service company Isar Aerospace today signed a contract for over EUR 15m from the European Space Agency (ESA) as part of their Boost! program. The contract adds additional funds to Isar Aerospace's strong position as the most capitalized independent New Space company in Europe with more than EUR 400m in total private funding. This further contributes towards strengthening Europe’s capabilities for commercial space transportation, ensuring sovereign access to space.
“In the light of the current political developments, it becomes even clearer why Europe must now change its approach to ensuring access to space. We are pleased to see the European Space Agency changing towards commercialization and pushing programs like Boost! and the European Launcher Challenge – but this second Boost! contract can only be the beginning. To become competitive globally, we need institutions and governments to clearly shift from funding the development to becoming frequent customers,” says Stella Guillen, Chief Commercial Officer of Isar Aerospace.
The funds from ESA will support Isar Aerospace’s preparations of the first and second test flights of Spectrum, its efforts in building a scalable series production, and the production of the next-generation engines for the second test flight.
“Europe’s emerging commercial launch service providers are pushing towards their first launches,” said ESA’s Director of Space Transportation, Toni Tolker-Nielsen, “we are very interested to see their rockets deliver, diversifying the European launch services on offer.”
As Isar Aerospace progresses towards the first test flight of its fully in-house developed launch vehicle, Spectrum, the company is simultaneously working on the industrialization of its launch service and expansion. A new 40.000 square meter production facility and headquarters of Isar Aerospace is currently under construction in Parsdorf/Vaterstetten, outside of Munich. With a future production volume of up to 40 Spectrum launch vehicles per year, the facility will become home to a world-leading commercial launch vehicle production. Isar Aerospace has established itself as a technological leader, having developed proprietary know-how through full vertical integration as well as through owning design, production, and testing operations taking place entirely in-house.
The ESA Boost! program aims to foster commercial initiatives in space transportation services to, in, and from space. The program provides co-funding, expertise, and access to ESA facilities to help bring these services toward operation.
About Isar Aerospace
Isar Aerospace, based near Munich, develops and builds launch vehicles for transporting small and medium-sized satellites as well as satellite constellations into Earth’s orbit. The company was founded in 2018 and has since grown to more than 400 employees from more than 50 nations with decades of hands-on rocket know-how and experience within other high-tech industries. With more than EUR 400m in total funding, Isar Aerospace is the most capitalized independent New Space company in Europe, providing strong backing for its pioneering approach to scale and industrialize production along vertical integration. Isar Aerospace’s two-stage orbital launch vehicle “Spectrum” is specifically designed for satellite constellation deployment, enabling access to one of the most critical technological platforms: space. More information: www.isaraerospace.com
Press contact Isar Aerospace
Tina Schmitt, Head of Communications
E press@isaraerospace.com
