Friday, October 22, 2021

Porsche parent invests in European rocket launch

- Advertisement -

Must read

Space Industry Updates

Porsche SE, the family holding company that controls Volkswagen, is investing in Munich-based rocket startup Isar Aerospace in a bid to ensure access to new space technologies.

The company joins HV Capital and Lombard Odier banking group to inject $ 75 million, bringing total second-stage funding to $ 165 million and values ​​the group at $ 550 million.

Isar is one of several European startups trying to rival Elon Musk’s SpaceX and Jeff Bezos’s Blue Origin with low-cost satellite launch services to low Earth orbit.

“We are convinced that flexible and cost-effective access to space will be a key driver for innovations in traditional industries, as well as for new and disruptive technologies and business models,” said Lutz Meschke, Porsche SE executive responsible for managing investments.

Existing investors include Airbus Ventures, Earlybird Venture Capital, and Lakestar. In total, the group has raised $ 180 million since its founding in 2018.

Isar is also ready to make life more challenging for the European launch company, Arianespace, which has been struggling with delays in its next-generation rocket, Ariane 6.

Although substantially cheaper than previous generations of Ariane rockets, the latest launch version will still be more expensive than SpaceX’s reusable rocket.

Arianespace, jointly owned by French aerospace companies Airbus and Safran, has traditionally been the preferred service provider for European space agencies.

But in May, Isar became the first private European company to win a contract from a national European space agency when it was awarded the mission to put two satellites into orbit for the German government.

Airbus, an investor in Isar since 2019, has also contracted Isar to launch an Earth observation satellite.

An impression of the lift-off of Isar’s first-generation Spectrum rocket – the maiden flight is scheduled for summer 2022 from Norway © Isar Aerospace

Isar is targeting a launch price of $ 10,000 a kilogram, still substantially higher than SpaceX.

However, Daniel Metzler, one of Isar’s three co-founders and CEO, said that compared to average European launch costs of more than $ 40,000 a kilogram for small satellites.

Isar also aims to lower prices over time as manufacturing matures and more contracts are awarded.

The rocket will have a payload capacity of up to one ton, capable of carrying multiple satellites, he said.

However, Isar has not sent a single satellite into space. The company started production of its Spectrum rocket this year and will soon begin engine testing in Sweden. The maiden flight is scheduled for summer 2022 from launch operations in Norway.

Metzler said the latest round of funding would allow Isar to increase production of the Spectrum rocket, which relies heavily on automation and 3D printing to lower production costs. The group also intended to use funds to begin development of a reusable launch vehicle.

“We want to take a leadership role in reuse in Europe,” said Metzler.

The investment from Porsche SE signaled a growing understanding that the space would transform traditional industries such as the automotive sector, he added.

“A car today is more like a device and an iPhone. They are becoming more and more software-centric, so the question is what applications can you run on your car.

“A constellation of satellites could tell you if there is a place to park, for example. The possibilities of space are very, very important drivers for the auto industry. “

Do Not Miss

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Nurses refuse to treat police after colleagues were shot

0
Nurses in Eswatini refuse to treat police officers as they accuse them of shooting colleagues during a pro-democracy rally on Wednesday.Pro-democracy protests in Africa's...

Prisons in paradise: Refugees detentions in Greece raise alarm | Refugees...

0
Names marked with an asterisk have been changed to protect identities. Kos, Greece – On the Greek island of Kos, in holiday season, tourists sip...

United States Increases Covid Drivers As Poor Nations Wait For First...

0
As the United States prepares to offer Covid booster vaccines to tens of millions of people, representatives of the World Health Organization continue to...

Sevilla vs Levante prediction, preview, team news and more

0
Sevilla are back in action with another important La Liga fixture this weekend as they take on Levante on Sunday. Sevilla have been...

What happened to Cleo Smith? Search for missing 4-year-old “Aussie...

0
The desperate search for four-year-old Cleo Smith continues after she disappeared from a camp where she spent the weekend with her family. The...

Pitt favored Clemson as the Tigers went through a slump after...

0
Yes, you read it right. The University of Pittsburgh is a favorite Saturday against the previously formidable Clemson Tigers, the same team that...

NBA 75 Team Revealed: Full Player Roster Information

0
The NBA has revealed all 75 members of its 75th anniversary team and the names included did not disappoint. MORE: Who was part of the...

Colin Powell: wise statesman or pawn?

0
The late American general was an inspiration to immigrants and African Americans, but his role in the Iraq war did great damage.

Windows 11 update fixes AMD CPU latency issues that reduced performance...

0
Paul Alcorn / Tom Hardware: Windows 11 update fixes AMD CPU latency issues that reduced performance by 3% to 5% for...

EU summit gives Merkel a big farewell even if she could...

0
BRUSSELS (AP) - Angela Merkel is still Germany's chancellor and could be when EU leaders meet again, but they gave her a farewell party...

Dying For Debt Relief: Why Are New York Taxi Drivers On...

0
New York, USA - When Richard and Kenny Chow moved with their family to the United States from Taiwan in 1987, the iconic yellow...

Supercharged: Tesla shares rise to a record | Technology news

0
Elon Musk's electric vehicle company is one step closer to a $ 1 trillion market valuation.Shares of Tesla Inc. rose to an all-time high...

As UK Resists COVID Measures, Experts Fear “Devastating Winter” | ...

0
London, United Kingdom - Pressure is mounting on the UK government to tighten COVID-19 restrictions as infections rise, and medical experts warn of a...

Evergrande pays lost dollar bond coupon: Chinese state media

0
Evergrande, the embattled Chinese property developer, has repaid a late interest payment on a dollar bond, state media reported, just days before the deadline...

‘You can queue for a whole shift’: the crisis facing Welsh...

0
When Caroline was finally carried on a stretcher to the Grange University Hospital in South Wales, it had been more than seven hours since...

Offering audience measurement and advertising tools on digital platforms and traditional...

0
Alexandra Bruell / Wall street journal: Offering audience measurement and advertising tools on digital platforms and traditional television, VideoAmp raises a...

Cristiano Ronaldo ‘collapsed’ the laws of ‘unity and equality’ at Juventus...

0
The reports behind Cristiano Ronaldo's departure from Juventus to join Manchester United escalated when Italian media Tuttosport (via the Daily mail) revealed that the...

Fantasy Cricket Tips, Today’s Playing 11 and ODI Youth Launch Report,...

0
Sri Lanka U19 will face Bangladesh U19 in the fourth match of the Youth ODI series at Rangiri Dambulla International Stadium in Dambulla on...

Max Scherzer to take the mound against the Braves to keep...

0
The Braves face a chance to lead the Dodgers 3-1 in the NL Championship Series for the second year in a row after an...

Bosses battle Titans and a series of competitive and intriguing games

0
If you're not a fantasy football player, you might want to look away on Sunday, because there's not a single matchup that will really...

Did Aaron Rodgers hint at staying in Green Bay beyond the...

0
Aaron Rodgers has been publicly flirting with leaving the Green Bay Packers all offseason. It all started when the Green Bay Packers lost...

Activists organize climate protests on every continent

0
BERLIN (AP) - Environmental activists staged protests on several continents on Friday to press their demands for more government action to curb global warming...

Intelligent Implants Raises $ 8.7 million to Help You Grow Your...

0
Spine surgery is not for the faint of heart at best, but Smart implants raised € 7.5 million ($ 8.7 million) to make spinal...

Having basketball, hockey, soccer, and baseball on the same night is...

0
Maybe I feel sad because last October we did not have our normal hours. There is a clock in this, a rhythm, with...

To Arctic Dispatch – The New York Times

0
Adaptation to climate change can be a difficult topic to discuss. Thinking about how society will adjust to the consequences of climate change...

Small Business United: Salford

0
Wycombe forward Adebayo Akinfenwa travels to Salford City and the Fletcher Moss Rangers to find out how local communities financially support clubs ...

US intelligence officials warn companies in critical sectors about China

0
US intelligence officials launched a campaign to warn US companies about the risks of interacting with China in critical industries, in an effort to...

Former Nissan Chairman Ghosn set out to restore reputation

0
TOKYO (AP) - Carlos Ghosn, the former auto industry superstar whose career came to a halt with his arrest three years ago, is not...

US equities dragged down by rising interest rate fears and tech...

0
Investors are increasingly concerned that the US central bank will raise interest rates sooner than they expect.By Nathan Hager and Vildana HajricBloombergPublished in October...

Bosnian Serb police exercise seen as separatist “provocation” | Political...

0
Bosnian and Croatian leaders call the drills "a clear provocation", but Serbian officials say it has nothing to do with Bosnia's deep political crisis.Bosnian...

How should healthcare workers protect themselves against COVID-19?

0
The WHO estimates that up to 180,000 healthcare workers have died from COVID since January 2020.

Steve Kerr on Steph Curry: ‘There’s never been anyone like him’

0
We've been watching it for over a decade and it's still as attractive as ever. When Stephen Curry is red hot, it's a must see. The...

Turkey’s Halkbank may be prosecuted for Iran sanctions violations, US appeals...

0
By Jonathan Stempel and Tom Hals(Reuters) - A US appeals court ruled on Friday that Turkish lender Halkbank can be prosecuted on allegations that...

Nintendo delays Advance Wars 1 + 2: Re-Boot Camp until spring

0
Join the leaders of online gaming at GamesBeat Summit Next on November 9-10. Learn more about what's next. Nintendo announced today that it...

AirAsia PH is ready to rehire laid off workers next year

0
Ricardo Isla —PHOTO FROM AIRASIA WEBSITE Budget airline AirAsia Philippines is set to rehire laid off pilots and cabin crew by the second quarter of...

Braze, a marketing campaign management software startup, applies for an initial...

0
Marty Swant / Forbes: Braze, a marketing campaign management software startup, applies for an initial public offering, says its revenue for...

Durga Puja: Durga Puja Violence – Bangladesh Police Arrest Prime Cox’s...

0
DHAKA: Bangladesh police arrested Iqbal Hossain, the main suspect responsible for keeping Koran in a Durga puja local in Comilla, from Cox's Bazar on...

Renault doubles lost production estimate as chip crisis deepens

0
Renault has warned that its production will be hit harder by the industry's chip shortage than the French automaker feared just two months ago.The...

ECQ reduced PH growth in the third quarter, says a group...

0
Barcelona-based FocusEconomics expects the Philippines' third-quarter growth to have slowed amid an increase in COVID-19 cases at the time, while the reopening of more...

Taper time: US Fed Chief Says Bank Should Reduce Asset Purchases...

0
Federal Reserve Chairman Jerome Powell also added that the US central bank was not yet ready to raise interest rates and would instead allow...

British prosecutors accuse Ali Harbi Ali of assassination of lawmaker Amess

0
LONDON: British prosecutors said on Thursday they had authorized the police to charge 25-year-old Ali Harbi Ali with the murder of lawmaker David Amess,...

Coi Leray and Justin Bieber bond and do the ‘Twinnem’ challenge...

0
Recently, Coi Leray and Justin Bieber hooked up in the studio, and Coi shared the moment with his followers on social media.In one...

Congress Engages in WFT Email Controversy

0
The NFL's handling of the investigation into the workplace conduct of the Washington soccer team has drawn the attention of...

US Regulators Support Efforts to Address Climate Risks

0
WASHINGTON (AP) - U.S. financial regulators on Thursday approved a series of steps to address the dangers that climate change poses to the nation's...
- Advertisement -

Don't Miss