Porsche SE joins space race



Porsche SE is the latest investor to join the space race with two companies Blue Origin and SpaceX of two billionaires Jeff Bezos and Elon Musk.

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Porsche SE is the latest investor to join the space race with two companies Blue Origin and SpaceX of two billionaires Jeff Bezos and Elon Musk.

According to CNN, on July 30, Porsche SE announced an investment in German space startup Isar Aerospace to compete with Blue Origin and SpaceX in satellite launch services and rocket production.

As Blue Origin and SpaceX are heavily backed by billionaires and are already racing against each other in manned space missions, the company Isar Aerospace thinks it can compete in this growing market to launch small satellites into Earth's orbit.  The company is planning a test launch for the first time next year.


Porsche SE joins space race
Porsche SE joins space race / ph: Isar Aeurospace

Porsche SE is investing in Isar Aeurospace along with venture capital firm HV Capital and Swiss bank Lombard Odier.  

Porsche SE invests $75 million in Isar Aeurospace, participating in a $165 million funding round with existing investors.  Porsche Se said it will receive double-digit shares.

According to Isar Aerospace’s statement released on July 28 - The funding will enable Isar Aerospace to further invest in production, test and launch infrastructure for commercial operations and autonomous rocket production.

Commercial demand for small satellite launches is expected to grow strongly in the coming years as companies in emerging and traditional industries increasingly depend on satellite technology to run software applications.

Last month, SpaceX put 88 satellites of many customers into orbit in a single rocket launch.  On the same day, Virgin Orbit (under the Virgin Galactic group of billionaire Richard Branson) launched the satellite of the US Department of Defense, the Polish startup SatRevolution and the Dutch Air Force into space.

According to Isar Aerospace, space will be the technology foundation for many industries around the world, from automotive to telecommunications, bringing advancements and new capabilities to the world of the Internet of Things, data storage and encryption, smart agriculture applications, climate change monitoring.

The global space launch services market will grow to over $35.4 billion by 2027, nearly a third of which will originate from small and medium-sized satellite deployments.

Although the contract is relatively small for the Porsche SE, it is a remarkable move for a business that invests heavily in cars and is the latest example of the space race that is starting to accelerate between private companies and billionaires.

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“We believe that cost efficiency and flexible access to space will be the driving force of innovation in many areas,” said Lutz Meschke, CEO in charge of investment management at Porsche SE.  

“With Isar Aerospace, we are investing in a company with great potential to become Europe's leading manufacturer of launch vehicles.”

Isar Aerospace has raised $180 million since 2018. The company is the fastest growing private launch service company in the European Union.

In May, the German space agency granted the company a contract to launch two satellites into orbit for the German government.

Porsche SE joins space race

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