Key Takeaways
1. Space Forge raised £22.6 million ($30 million) in Series A funding, the largest for a UK space-tech firm, led by the NATO Innovation Fund.
2. The company utilizes unique space conditions to produce materials that cannot be made on Earth, benefiting industries like semiconductors and clean energy.
3. Space-manufactured materials could reduce CO2 emissions by up to 75% and energy use by 60%, supporting global sustainability efforts.
4. Funds will accelerate the development of the ForgeStar-2 satellite and finance the first ForgeStar-1 in-orbit demonstration planned for 2025.
5. In the US, Space Forge aims to build a semiconductor manufacturing capability to strengthen the domestic supply chain and reduce reliance on Earth-based production.
UK start-up Space Forge has successfully secured £22.6 million (approximately $30 million) in its Series A funding round, marking it as the largest amount raised by a British space-technology firm. The NATO Innovation Fund spearheaded this investment, with additional contributions from World Fund, the National Security Strategic Investment Fund, and the British Business Bank’s Regional Angels Programme.
Unique Space Environment
Space Forge takes advantage of the extraordinary conditions found in space—like microgravity, vacuum, and significant temperature variations—to create materials that can’t be made on Earth. These materials manufactured in space have the potential to push forward industries such as semiconductors, quantum computing, clean energy, and defense technologies.
Environmental Benefits
Research shows that materials produced in orbit could cut CO2 emissions by up to 75 percent and reduce energy use by as much as 60 percent for vital infrastructure applications. This could significantly improve climate resilience and aid in global sustainability initiatives.
Future Plans
The funds raised will help Speed up the development of ForgeStar-2, a next-gen, reusable manufacturing satellite, as well as finance the first ForgeStar-1 in-orbit demonstration that is expected in 2025. Both missions are set to confirm a scalable and returnable platform for creating high-performance materials in space.
In the US, Space Forge Inc. is concentrating on establishing a comprehensive, end-to-end semiconductor manufacturing capability through the CHIPS and Science Act. Michelle Flemming, the company president, emphasizes the aim of enhancing domestic supply chain stability and decreasing reliance on traditional Earth-based production systems.
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