Space Forge is considered Europe’s fast-growing startup as a space tech company, raising around $10.3 million. The given round earned four times the original target with investments worldwide.
The company aims to increase the development of the microgravity market for research and development by lowering entry barriers. The idea of in-space manufacturing allows Space Forge to use the advantages of the space environment. Those are temperature, microgravity, and also vacuum that can be helpful to make products impossible to construct on Earth.
Moreover, the company focuses on building materials and products that offer game-changing efficiency and performance in infrastructure and systems that require massive power. They plan to unlock new levels of innovation and decrease the environmental consequences of production on Earth. In fact, research suggests that making these materials in space might reduce carbon emissions by around 76%. It is equal to extracting all cars using petrol from the UK.
The company announced that it is in the process of developing a world-first service combining the launch and return of a new tiny class of vehicles. With partners, they create the ForgeStar that can provide reusable and reliable in-space infrastructure. So, it will enable microgravity research on demand. Furthermore, this returnable service received a $2.5m contracts through the European Space Agency, supported by the UK Space Agency.
The idea of investment in space for technology that can improve life on Earth received a lot of appreciation. Space Forge’s funding comes from reasonable portfolio holders who recognize the potential in its returnable in-space manufacturing satellite platform. It is the beginning of opening the ability to manufacture next-generation excellent materials. Space Forge will use this opportunity of funding to take the following steps in launching and returning its first ForgeStar. One of the more unique aspects is returning manufactured materials from orbit without using an ablative capsule.