Company description:
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This startup created a space engine that uses 1% of the fuel compared to normal rocket engines (apoggee). The startup developed a rocket engine that uses chemicals combined with electricity what makes this space engine the first hybrid space engine. Other space engines are fueled with chemicals or electricity. The fact that this engine is a hybrid makes this much more efficient than its competitors. This engine uses about 1% of the fuel of other space engines to produce about half of the energy of a traditional space engine. This is a game-changing space engine to get satellites with less fuel in orbit or for future interplanetary space travel. This is an enabler to get the rich guys to further destinations. Therefore, this could be the engine the will be used in the future for going to interplanetary destinations in the name of science. The startup already retrieved a letter of intent of a German satellite company for using their space engine on their satellites. They will use 15 of these new engines on their new satellites. |
Business Model:
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The Business model going to be classic product sales but with additional project. This startup is going to sell different CLEPS (Combined Liquid Electric Propulsion System) X100 to satellite Manufacturers and the international space station (ISS). Next to selling product they are launching other projects. A planned the ISS is falling down by 2024, this startup is currently in negotiation with the involved parties of the ISS to apply their space engines on the ISS so it can be in space for 10 more years. In exchange they intent to rent a part of the ISS earn money by renting it out for research. |
Customer type / profile:
| Government Agencies, Defense Department, Private Space companies |
Preferable investor type:
Angel investor
USP’s:
| Their X100 engine uses 1 liter of fuel for over 40 minutes to produce 80 N of power. A normal rocket engine uses 150 times more fuel to produce the same amount of power. |
Capital amount needed:
| €70.000, – (Total round is €120.000,- , but €50.000,- is already invested by the George Washington university). |
Investment need:
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– Mainly for testing the first prototype. – Marketing costs (already covered). |
Sector:
Deep tech
Phase:
Pre-seed
Number of founders:
2
Current number of employees:
1-5
Team:
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Co-founders: – Former Airbus Director (at age 25, also made a jet engine at age 15). Board members: |
Monthly turnover (current):
| €0,- |
Turnover (forecast) next 12 months:
| €11.000.000,- |
Turnover (forecast) months 13 – 24:
€18.000.000,-
Current monthly expenses:
€0,-
Committed funding in the current financing round:
| €0,- |
Additional information:
| €15.000,- have been invested by one of the co-founders so far, and more coming in from the co-founder as well. The next investment round is expected to be next year with much more capital, since they will use the next funding round for producing the space engines and a market introduction. |
