Austrian propulsion startup joins sovereign space funding surge

Gate Space says it operates one of Europe’s largest commercial development, testing and production infrastructures for satellite propulsion systems. Credit: Gate Space

TAMPA, Fla. — Austrian satellite propulsion startup Gate Space has won 6.3 million euros ($7.2 million) in funding from Europe’s government-backed accelerator program, joining a wave of European companies attracting capital for greater space sovereignty.

The proceeds will accelerate the industrialization of chemical propulsion technology slated to fly to orbit for the first time in February on BeaconSat, Austria’s inaugural military satellite, Gate Space announced June 19.

“Space technology is critical infrastructure,” Gate Space cofounder and CEO Moritz Novak said via email.

“Both Austrian and the European institutions recognize the importance of a European industrial base for space technology, and its commercial and economic opportunity.”