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Isar Aerospace has won launch contracts from Airbus Defence and Space and from the German Aerospace Center (DLR).
Spectrum is a two-stage launch vehicle designed by Isar Aerospace to place up to 1,000 kg into low Earth orbit.
Isar Aerospace signed an agreement in April with Andøya Space for exclusive use of a pad at a new launch site under development by Andøya Space.
Spectrum is powered by Aquila engines that Isar Aerospace is developing and building.
Isar Aerospace has raised more than $180,000,000 in total to date.
The additional Series B funding will allow Isar Aerospace to build out manufacturing and launch infrastructure for later growth and to work on reusability.
Isar Aerospace will use the 11,000,000 EUR funding to further develop its first Spectrum launch vehicle.
The German Government and the German Aerospace Center (DLR) awarded Isar Aerospace an 11,000,000 EUR contract through the C-STS program managed by the European Space Agency (ESA).
The German Government obtains a payload of up to 150 kg on two Spectrum flights into Earth orbit as part of the agreement with Isar Aerospace.
Isar Aerospace, Rocket Factory Augsburg, and HyImpulse Technologies each received 500,000 EUR in ESA Boost! funding in November to fund specific development goals.
Isar Aerospace received a DLR endorsement that clears the way for it to secure 11,000,000 EUR from the European Space Agency’s Boost! program.
Isar Aerospace has raised more than $90,000,000 in private funding since 2019, including a $75,000,000 Series B round led by venture capital fund Lakestar.
ESA will review Isar Aerospace’s formal service proposal and enter into negotiations before signing a launch contract and awarding 11,000,000 EUR in development funding.
All three companies that qualified for the DLR competition—Isar Aerospace, Rocket Factory Augsburg, and HyImpulse Technologies—remain eligible to compete for an additional 11,000,000 EUR to be awarded under Boost! in 2022.
The maiden flight of the Isar Aerospace Spectrum rocket is slated for mid-2022 contingent on the launch pad being built by Andøya Space in Norway being fully operational in time.
Isar Aerospace will carry the institutional payloads to orbit aboard Spectrum rockets, a two-stage rocket designed to deliver up to 700 kg of payload to sun-synchronous orbit.
In return for 11,000,000 EUR in funding, Isar Aerospace must launch two 150-kilogram payloads of the German government’s choosing over two flights.
DLR selected Isar Aerospace on 2021-04-30 to receive a DLR letter of support required to submit a formal service proposal to ESA for the first 11 million-euro award.
The 20-year lease for the Andøya launch pad enables Isar Aerospace to deploy payloads into sun-synchronous and polar orbits.
Isar Aerospace arranged a 20-year exclusive lease for one of two launch pads being built at Norway’s Andøya Space Center.