With Europe seeking greater defense and space autonomy, Deep Space Energy secures €930k to advance lunar energy tech
Riga-based Deep Space Energy has secured €930,000 to advance its radioisotopic generator technology, a significant step towards enhancing European sovereign capabilities in space and defense. This funding, comprising a €350,000 pre-Seed round and €580,000 in public contracts from the European Space Agency (ESA), NATO DIANA, and the Latvian government, aims to bolster the resilience of strategic satellites and power lunar surface exploration. The company's technology offers a crucial auxiliary energy source, independent of solar power, vital for high-value military reconnaissance assets and to address potential non-kinetic attacks and malfunctions. The European SpaceTech sector is experiencing a surge in investment, with numerous companies raising substantial capital. Recent funding rounds include Reflex Aerospace’s €50 million for sovereign satellite platforms, Infinite Orbits’ €40 million for in-orbit servicing, and Look Up’s €50 million for space surveillance. Additionally, UNIVITY secured €31 million for space-based 5G, Marble Imaging raised €5.3 million for Earth observation satellites, and Kreios Space received €8 million for propulsion systems. These collective investments, nearing €187 million, underscore a strong European drive towards autonomy in satellite infrastructure, propulsion, communications, and observation. Deep Space Energy’s funding, while at an earlier stage than some of its peers, addresses a critical need for energy resilience and independence within the European space ecosystem. Its radioisotope power generator, utilizing heat from nuclear decay, offers a unique solution for backup power in space applications. This development aligns with Europe's broader ambition to reduce reliance on non-European technology and foster indigenous innovation in the strategic defense and space sectors.
Curated and translated by Europe Digital for our multilingual European audience.
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