What's Happening?
Kreios Space, a Spanish startup, has closed an €8M seed round to advance its air breathing electric propulsion (ABEP) technology for very low Earth orbit (VLEO) satellites. The funding round was led by the NATO Innovation Fund and JOIN Capital, with participation from Grow Venture Partners, Xesgalicia, and Tasivia Global. Kreios plans to use the funds to fly a demonstration mission of its ABEP tech in VLEO by early 2027. Founded in 2021, Kreios aims to enable satellites to operate at altitudes as low as 200 kilometers, offering advantages in telecommunications and Earth observation. The ABEP system allows satellites to use atmospheric air for propulsion, reducing fuel requirements and enabling longer missions.
Why It's Important?
Kreios's development of VLEO satellites could revolutionize satellite operations by allowing closer proximity to Earth, which enhances communication speed and imaging resolution. This technology has the potential to benefit both commercial and defense sectors, offering faster signal transmission and more detailed Earth observation capabilities. The funding from NATO Innovation Fund indicates strategic interest in leveraging VLEO for dual-use missions, potentially impacting government contracts and commercial applications across Europe. Kreios's approach could lead to cost-effective satellite operations with improved performance, positioning the company as a leader in VLEO technology.
What's Next?
Kreios plans to continue developing its ABEP technology and secure government contracts through the NATO Innovation Fund. The company aims to demonstrate the economic benefits of VLEO for civil and commercial use cases, potentially expanding its market reach. As the technology matures, Kreios may explore additional applications and partnerships to further its vision of leading the VLEO sector.
