Europe's Biggest Space Round Goes to a Rocket Engine
The round will fund testing through 2028 as the company shifts most of the capital to a reusable methane-oxygen engine for a future heavy launcher.
- The Exploration Company closed a $450 million Series C funding round on Tuesday, with Bessemer Venture Partners, Atomico, and the Scaleup Europe Fund co-leading the investment.
- Most of this capital is directed toward Storm, a high-thrust reusable engine designed for a future heavy-lift launcher carrying up to 40 tonnes to low Earth orbit.
- ArianeGroup is developing Prometheus, a competing reusable engine that has been hot-firing since 2022, while TEC's strategy depends on the European Space Agency eventually opening a heavy-lift competition.
- French President Emmanuel Macron and European Commission President Ursula von der Leyen praised the company, with the Scaleup Europe Fund, managed by EQT, part-funding the round.
- Pre-Burner and subscale chamber tests for the Storm engine begin in the coming months, while TEC expects a demonstration flight of the Nyx capsule in 2028 to validate operational capability.
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Europe's biggest space round goes to a rocket engine
The Exploration Company has raised $450m. Most of it goes into something the company is not yet famous for. Not Nyx, the reusable capsule that has drawn the contracts and the SpaceX comparisons. An engine. Kate Duffy reported the round for Bloomberg. Founder and chief executive Hélène Huby told her why the balance falls that […] This story continues at The Next Web
The Exploration Company (TEC), which develops a reusable space capsule, managed to attract $450 million in funding, a record for a mature company in the European space sector, announced its representatives, on Tuesday, on the eve of the International Space Summit, which will take place in Paris.
European SpaceX Rival Raises $450 Million to Build Rocket Engine
The Exploration Company Gmbh has raised $450 million in funding to help boost the development of Europe’s first reusable space capsule and a new rocket engine, which the SpaceX rival has said would be the largest in the region.
The start-up The Exploration Company, based in Haillan, near Bordeaux, is making a record-breaking fundraising effort to accelerate the development of its Nyx capsule and future reusable engine
The Exploration Company closed a $450 million funding round to develop Storm, a reusable high-drive engine that has not yet been turned on and that targets a heavy launcher not yet commissioned by Europe. *** Most of the round will finance the development and testing of the Storm engine until 2028. The project indirectly competes with ArianeGroup’s Prometheus, while ESA still does not convene a European heavy launcher program. The company raised…
The Exploration Company strengthens its ability to drive Nyx to the International Space Station and accelerate the development of its Storm engine. This series C accompanies two programs with distinct horizons, with a short-term priority maintained on the transport of orbital cargo and its return to Earth. The Exploration Company announces today a new ... L的article THE EXPLORATION COMPANY announces a €387 million raise for Nyx and Storm appeared…
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