{"id":102134,"date":"2024-06-13T16:27:00","date_gmt":"2024-06-13T14:27:00","guid":{"rendered":"https:\/\/cms.munich-startup.net\/?p=102134"},"modified":"2024-06-13T14:29:29","modified_gmt":"2024-06-13T12:29:29","slug":"isar-aerospace-receives-185-million-euros","status":"publish","type":"post","link":"https:\/\/cms.munich-startup.net\/en\/102134\/isar-aerospace-receives-185-million-euros\/","title":{"rendered":"Isar Aerospace receives 18.5 million euros"},"content":{"rendered":"
\n

Isar Aerospace is developing Spectrum, a two-stage rocket specifically designed for launching small to medium-sized satellites into orbit. For the production of its rockets, the Munich<\/a> on advanced technologies and a high degree of automation. In this way, they aim to make access to space more flexible and cost-effective. With the capital provided by Atel Ventures, the company can finance the purchase of equipment for the production of its launch vehicles.<\/p>\n\n\n\n

The small to medium-sized satellites that Spectrum plans to launch into space can be used for a wide variety of applications. For example, they could provide internet connections to rural communities and people in developing countries. They could also be used in earth observation and navigation. Such satellites are expected to play a key role in combating climate change and enabling smart mobility.<\/p>\n\n\n\n

Steven Rea<\/strong>, President of Atel Ventures<\/a>, explained:<\/p>\n\n\n\n

"Satellites have enormous potential to improve access to telecommunications, monitor and manage resources, and combat climate change. The satellite market is expected to be worth $1 trillion by 2040. Launch is the key bottleneck in this revolution, and we therefore expect Isar Aerospace to play a key role in enabling flexible and cost-effective access to space."<\/p><\/blockquote>\n\n\n\n

David Kownator<\/strong>, Chief Financial Officer at Isar Aerospace, adds:<\/p>\n\n\n\n

"Developing a launch vehicle based on the vertical integration concept requires upfront investments in specialized equipment. This agreement with Atel Ventures is an important component of our financing model, especially as we begin construction of a new large-scale production facility."<\/p><\/blockquote>\n<\/div>","protected":false},"excerpt":{"rendered":"

To finance the purchase of equipment for the production of its launch vehicles, Isar Aerospace has taken out a \u20ac18.5 million ($20 million) growth loan. 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