Photo: Isar Aerospace
Though many assume the billionaire space race is a poorly-disguised ego trip, both Jeff Bezos and Sir Richard Branson, along with Elon Musk, have repeatedly said that space exploration is “the future.” Porsche believes it too, so it’s joining in, by backing a space startup from Germany.
Bezos and Branson have each tried to explain why private space travel and exploration are important, ahead of their respective launches last week. Besides vague references to saving our planet and realigning priorities, they included statements about how the technology will improve communication and connectivity, as well as pave the way for innovation.
Porsche believes it, too. As of last week, Porsche SE is one of the main investors in the latest expansion for German space startup Isar Aerospace, which has managed to generate $75 million in new capital. Isar Aerospace doesn’t have such high goals as SpaceX, Blue Origin or Virgin Galactic (yet), with the focus being on developing a rocket to deliver lightweight payloads to low-Earth orbit.
“As an investor focusing on mobility and industrial technology, we are convinced that cost-effective and flexible access to space will be a key enabler for innovations in traditional industries as well as for new and disruptive technologies and business models,” Porsche SE executive board member Lutz Meschke says in a statement accompanying the announcement of the new capital injection. “Therefore, we are excited to back Isar Aerospace on its way to becoming the leading European small launcher and to meet the increasing appetite for launch services.”
Right now, Isar Aerospace is working on Spectrum, its first rocket. Spectrum is a two-stage payload rocket that aims to offer delivery of payloads of up to 1,000 kilograms (2,204 pounds), at a lower cost for the customer. It is scheduled to take start test flying sometime in 2022, from one of the launch pads of Andøya Space in Norway. Engine tests will take place in Kiruna, Sweden.
The first paying customer for Isar Aerospace and its upcoming Spectrum rocket is Airbus Defense and Space.
Porsche believes it, too. As of last week, Porsche SE is one of the main investors in the latest expansion for German space startup Isar Aerospace, which has managed to generate $75 million in new capital. Isar Aerospace doesn’t have such high goals as SpaceX, Blue Origin or Virgin Galactic (yet), with the focus being on developing a rocket to deliver lightweight payloads to low-Earth orbit.
“As an investor focusing on mobility and industrial technology, we are convinced that cost-effective and flexible access to space will be a key enabler for innovations in traditional industries as well as for new and disruptive technologies and business models,” Porsche SE executive board member Lutz Meschke says in a statement accompanying the announcement of the new capital injection. “Therefore, we are excited to back Isar Aerospace on its way to becoming the leading European small launcher and to meet the increasing appetite for launch services.”
Right now, Isar Aerospace is working on Spectrum, its first rocket. Spectrum is a two-stage payload rocket that aims to offer delivery of payloads of up to 1,000 kilograms (2,204 pounds), at a lower cost for the customer. It is scheduled to take start test flying sometime in 2022, from one of the launch pads of Andøya Space in Norway. Engine tests will take place in Kiruna, Sweden.
The first paying customer for Isar Aerospace and its upcoming Spectrum rocket is Airbus Defense and Space.
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