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The PwC-led consortium includes HyPrSpace, Andøya Spaceport, Argotec, Atlantic Spaceport Consortium, IDS Corporation, and Arctic Space.
HyPrSpace secured €21 million in funding to support its development of hybrid propulsion-based launch systems.
HyPrSpace Chief Strategy Officer Sylvain Bataillard stated that their single-source-launch architecture will help reduce production costs.
HyPrSpace's factory can produce either suborbital or orbital launchers, allowing the company to serve both markets.
HyPrSpace announced a €21M Series A to fund the development of its Baguette One suborbital launch vehicle, targeting an inaugural launch in late 2026.
Bataillard estimated that HyPrSpace would need to raise approximately €50M in a Series B round shortly after the Baguette One launch.
HyPrSpace's total funding now exceeds €57M, which includes a €1.1M seed round in 2022 and €35M investment in 2023 under the France 2030 initiative.
HyPrSpace's production facility is designed to produce 120 rocket engines per year.
HyPrSpace's single-stage Baguette and two-stage Orbital Baguette rockets use high-density polyethylene fuel and cryogenic liquid oxygen oxidizer.
HyPrSpace aims to raise more capital to build a high-output production facility and attempt an orbital launch by the end of 2027.
HyPrSpace plans to move on to an initial orbital test flight using its larger Orbital Baguette One (OB-1) rocket.
The funding will expand HyPrSpace's efforts to develop defence applications for its hybrid propulsion technology.
HyPrSpace has closed an oversubscribed Series A funding round, securing €21 million to continue the development of its hybrid rocket engines and complete a suborbital test flight.
HyPrSpace intends to use the new funding to scale up its operations and complete the full-scale qualification of its propulsion system.
HyPrSpace aims to reinforce France's position as a space power while guaranteeing reliable access to space for both civil and defense missions.
HyPrSpace will use part of the funding to conduct the suborbital Baguette One test flight.
HyPrSpace expects to use its propulsion system for the first time aboard a suborbital test flight called Baguette One, scheduled to be launched in 2026 from a French Ministry of Defence missile test site in mainland France.
HyPrSpace's CEO Alexandre Mangeot stated that the goal is to make hybrid propulsion a global standard.
HyPrSpace was founded in 2019 and is developing a hybrid propulsion system that uses solid HDPE fuel and cryogenic liquid oxygen oxidiser.
In 2020, the DGA awarded HyPrSpace a €90,000 contract to visually simulate the launch of a surface-to-air missile by generating a smoke trail.