Porsche Automobil Holding SE (“Porsche SE”), Stuttgart, acquires a low
single-digit percentage stake in Isar Aerospace Technologies GmbH (“Isar
Aerospace”), Ottobrunn, Munich. The company develops and manufactures launch
vehicles for the transport of satellites. The investment was part of a new
financing round of Isar Aerospace.
Lutz Meschke member of the board of management responsible for investment
management: “As an investor with a focus on mobility and industrial
technology, we are convinced that cost-efficient and flexible access to
space will be an enabler of innovation in many industry sectors. With Isar
Aerospace, we are investing in a company that is well-positioned to
establish itself as a leading European manufacturer of launch vehicles.” The
rapid development of the company is impressive, Meschke added.
Isar Aerospace plans its initial launch next year and offers a more
cost-efficient and flexible launch capacity for satellites with “Spectrum”,
the first launch vehicle developed by the company. The cost benefits
compared to currently available launch vehicles shall mainly be achieved
with a high degree of automation in the rocket production process.
Due to the latest advancements in the area of satellite technology and
resulting business models, e.g., in the areas of connectivity and earth
observation, demand for the launch of small satellites is expected to grow
significantly in the coming years. As existing launch capacities are not
sufficient or too expensive or inflexible, private companies like Isar
Aerospace aim to satisfy this demand in a more cost-effective and flexible
way compared to established space companies.
The new financing round has a total volume of around 75 million US dollars.
Overall, Isar Aerospace has raised more than 180 million US dollars from
renowned investors such as HV Capital, Lakestar, Earlybird and Airbus
Ventures.
With Isar Aerospace, Porsche SE is adding another promising company to its
portfolio. The success of Porsche SE’s previous investments was most
recently demonstrated by the public listings of its portfolio companies AEVA
and Markforged.