Cork company begins fundraising for spaceport
Suas Aerospace has announced a fundraising round of €5 million for the development of a spaceport to facilitate orbital and suborbital rocket launches for carrying small satellites to polar orbits.
The company aims to have world-class upstream space infrastructure fully operational by 2027, facilitating up to 48 launches annually and driving initial projected revenues in excess of €70 million. Long term plans include a major aeronautical facility that will encompass launchpads, integration facility, control center and visitor center.
Ireland was identified as one of the top three suitable locations in Europe for a spaceport in a technical feasibility study commissioned by Suas and undertaken by British-based high-altitude expert B2Space. The study looked at safety, launcher range and flights paths and concluded that orbital rocket launches for small satellites can be achieved from various locations in Ireland.
The Suas Aerospace project aims to capitalise on Irelands location and climate advantage for small satellite launching and will also respond to the deficit in European launch capabilities for European companies developing commercial launch vehicles.
Rory Fitzpatrick, CEO, Suas Aerospace, said: “This is a significant opportunity for Ireland to establish itself as a leader in the European space sector. The current round of seed funding will help SUAS Aerospace substantially progress its vision to to create a thriving space hub in Ireland. It will help develop initial infrastructure, conduct test launches, establish strategic partnerships and ultimately pave the way for the first orbital launch from Irish soil. Our hope is that it will inspire young people to pursue careers in science, technology, engineering, and mathematics in an indigenous Irish operation.”
Suas Aerospace was founded in 2019 and is supported by the Enterprise Ireland. With initial investment of €1.1 million to date, Suas has secured significant partnerships with major European Companies including Skyrora, T Minus Engineering, Pangea Aerospace and is part of a successful consortium awarded a €5m grant from Horizon Europe to develop interoperable rocket engine testing infrastructure for Europe.
Suas Aerospace is headquartered at National Space Centre in Cork.
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