German micro-launcher start-up Rocket Factory announces unprecedented low price of € 3 million per rocket launch
Mass production allows costs to be dominated / Financing round to raise 25 million euros
BREMEN, Germany and AUGSBURG, Germany, February 12, 2021 (GLOBE NEWSWIRE) – At the Capital Market Day of space technology group OHB SE (Prime Standard, ISIN DE0005936124), Augsburg start-up Rocket Factory announced that she revived the growth of the micro-launch company with a round of funding. The current shareholders of Rocket Factory are OHB SE, Apollo Capital Partners, other founders as well as company management, employees and private investors. The goal of the roundtable is to raise 25 million euros in new capital.
Rocket Factory is developing micro-launchers for the cost-effective transport of small satellites in low earth orbits. The start-up is determined to grow strongly in the coming years and to quickly gain market share: “We want to build the best and cheapest rockets and micro-launchers. With freight costs of EUR 3 million per launch, we will be able to offer by far the cheapest launch service in the world, ”said Hans Steininger, vice chairman of the supervisory board and founding investor of Rocket Factory and owner of Apollo Capital Partners, Munich.
In the meantime, the start-up has started to build prototypes of its engine. Small, inexpensive launchers play a key role in the commercial use of space by private service providers. “New Space” opens up a billion dollar market which is attracting more and more investors. Venture capital funds around the world invested a record $ 15.7 billion in 252 space companies in 2020, of which $ 9.4 billion went to US companies *.
Marco Fuchs, CEO of OHB SE, said: “We don’t want to leave this lucrative market to US companies. This is why we created the Rocket Factory with two young space enthusiasts and gave the new company a major boost in the form of expertise and capital. We will be able to maximize the cost benefits of mass production because we will build rockets like cars. Due to the very high demand for investment opportunities in this promising market, we are now opening up the possibility of other selected investors to participate in the growth of The Rocket Factory. “
Rocket Factory’s launcher combines three important competitive advantages: unbeatable price, precise delivery to orbit thanks to a new orbital stage and superior motor technology.
“With staged combustion technology, we are a technological forerunner because it is more powerful, more efficient and cleaner than most launchers currently on the market”, said Dr Stefan Brieschenk, member of the board of directors and director of Rocket Factory operations.
Jörn Spurmann, Board Member and Commercial Director of Rocket Factory, added: “We offer a last mile delivery service. Unlike many others, we deliver satellites to different orbits with pinpoint accuracy thanks to our unique orbital stage. This creates cost advantages. And because we also produce at the lowest cost, we create unmatched value for money. “
* Source: Space Investment Quarterly Q4 / 2020 by Space Capital
Rocket Factory was founded in 2018 by Jörn Spurmann and Stefan Brieschenk, investor Hans Steininger and German satellite company OHB SE. The start-up’s goal is to develop a prototype launcher by the end of 2022, which will put satellites into low Earth orbit every week at unmatched prices. Rocket Factory is aiming for exponential growth in the booming New Space market. The goal of the start-up is to combine the highest performance of the system with very low cost manufacturing and design principles. Rocket Factory will deliver satellites precisely to orbit with a single orbital transfer vehicle, with space transportation in mind from both the satellite and the customer’s perspective. The launcher will offer an end-to-end solution with its last mile delivery service. The launcher combines three key competitive advantages: ultra-low cost architecture, precise delivery to orbit, and superior propulsion technology. The start-up has established itself in Augsburg and currently has a team of 85 New Space veterans (as of February 2021) of 25 different nationalities, with a proven track record established in international launcher development projects.
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