Europe Strives for Space Independence: Gate Space Receives €6.3 Million Investment
The Austrian startup Gate Space has received €6.3 million in financial support from the European Innovation Council (EIC) as part of a project to develop chemical propulsion systems for satellites. This investment is part of the European Union's broader efforts to reduce dependence on foreign suppliers in space technology and strengthen strategic sovereignty. This is reported by Ixbt.com news reports.
According to Ixbt.com, Gate Space was the only space company among the 38 participants who won in the current selection stage. These funds will be used to launch the serial production of propulsion systems. The company's first product is scheduled for its maiden space flight in February next year aboard Austria's BeaconSat satellite.
Strategic Importance and Technological Capabilities
Founded in 2022 by graduates of the Vienna University of Technology, Gate Space currently focuses on creating compact propulsion systems for satellites, space capsules, and landing craft. The company's flagship product, the Jetpack system, is standardized and designed for ESPA-class satellites. The smallest Jetpack S version can be produced within 9 months, with prices starting from €450,000.Company CEO Moritz Novak emphasized that space technology is viewed not only as a commercial venture but as part of critical infrastructure. As the density of objects in orbit increases, there is a sharp rise in demand for reliable engines to avoid collisions and ensure controlled de-orbiting after a mission is completed.
Key Market Demand Factors
Experts believe the need for such propulsion systems is driven by three main directions:- The launch of numerous satellites as part of joint missions and the need for them to move to separate operational orbits;
- The development of on-orbit servicing and refueling missions;
- Increasing risks associated with space debris and new safety requirements from regulatory bodies.
Although Gate Space is a relatively small player in the global space market, its vertically integrated production chain and ability to deliver products in short timeframes provide a significant advantage. Currently, the company's total attracted investment has reached $22 million, and a new contract portfolio for 2027 is being formed.
Comments 0
…