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Avio's board has the power to determine the final size of the capital raise, up to €400 million, as well as the price of the new shares.
Avio announced that its board had approved the capital raise as part of a new ten-year business plan focused on meeting rising demand in the global space and defense markets.
In September 2023, Avio revealed that the STS programme would include two demonstrators: the single-stage In-Flight Demonstrator (IFD1) and the two-stage FD2 demonstrator.
The MR10 engine will initially power a single-stage demonstrator being developed under Avio’s Space Transportation System (STS) programme.
On 6 August 2025, Avio successfully conducted the first hot-fire test of the MR10 DM2 flight model, designated the MR10 DMX2 engine.
In March 2023, Avio was awarded a €181.6 million contract to develop a two-stage, light-lift rocket powered by its new methalox engines.
The test allowed Avio to continue with the integration and testing phase of the FD1 demonstrator.
Avio expects to carry out a 'stage test' early next year.
Avio completed a key hot-fire test of its methane-powered MR10 liquid rocket engine.
Avio will move on to the integration and testing phase of the single-stage FD1 demonstrator.
Avio completed an initial hot-fire test campaign of its MR10 DM2 rocket engine in late 2023.
On 22 September, Avio completed the third and final hot-fire test of the MR10 DMX2 test campaign.
In its full-year 2024 financial results presentation, Avio noted it expected to perform a 'firing test' for the FD1 demonstrator in the third quarter of 2025.
The primary focus of the STS programme is to mature and test Avio’s new methalox rocket engines, cryogenic tanks, non-pyrotechnic separation systems, and low-cost avionics.
Avio received €103.7 million to develop the MR60 rocket engine, a more powerful variant of its MR10 engine, for the upper stage of the Vega E rocket.
The completion of the MR10 DMX2 hot-fire test marked a significant step in Avio's STS programme.
Avio received funding from the Italian government through its PNRR programme to design a reusable first stage.
Avio received €181.6 million for the development of two demonstrators as part of its Space Transportation System initiative.
The Space Transportation System initiative aims to validate Avio’s next-generation methalox rocket engines and mature reusable rocket technologies.
ESA awarded a €40 million contract to Avio for the design of a reusable rocket upper stage in late September.