Israeli startup NewRocket announced the launch of what it calls a ‘New Generation’ of rockets. The startup’s Next-Gen rockets are adaptable to a variety of satellites of all sizes. In addition to the rockets, NewRocket also develops PowerGel - an advanced gel-based fuel - which provides a more sustainable fuel solution that’s still powerful and controllable, following the strictest industry regulations.
Green rockets and $1M in funding
Traditional fuels used today for satellite propulsion are highly toxic, based on hydrazine, which is expected to be banned in Europe. "Our proprietary gel fuel combines the benefits of both solid and liquid fuels: it is powerful - with similar performance to legacy hydrazine-based bi-propellants – fully controllable, and environmentally friendly. Accordingly, the gel propellant is safe and non-toxic, thereby dramatically reducing fueling, storage and ground service costs", said CEO Ilan Harel.
The technology used by NewRocket is based on technology developed by Prof Benny Natan from the Faculty of Aerospace Engineering at the Technion - Israel Institute of Technology, which was licensed to the company.
As both manned and unmanned space exploration continues to entice the next great leap of innovation. We are starting to see the previous government ran space programs dip into the private pool, creating more competition and potentially more innovative results. However, the main problem, which technology like NewRocket’s comes to solve, is the fact that anything to do with high propulsion rockets and jet fuel is quite pricey, creating a demand from the private sector to reduce cost, while ensuring that the products are green and on the eco-friendly side.
A graduate of Elbit Systems’ deep-tech incubator - Incubit Ventures - NewRocket’s technology is suited for satellites and other in-space applications, enabling high energy orbital transfer and maneuvers. A successful proof of concept also paved the way to key applications in the aviation and energy markets.
NewRocket also recently partnered with leading aerospace corporations and is currently executing projects worth millions of dollars. To expand its global reach, the company already secured $1 million, out of an ongoing funding round, led by UK based Consensus Business Group (CBG), led by prominent investor Vincent Tchenguiz.
"The investment will serve NewRocket in executing its growth strategy, accelerating engine development as we bring our propulsion solutions into the global aerospace market", said Harel. "As NewSpace companies launch constellations of thousands of satellites, while space debris is accumulating, NewRocket propulsion solutions will allow for more efficient satellite orbital deployment and de-orbiting".
NewRocket was founded in 2014 by Zohar Schlagman and Moti Elyashiv at Incubit Ventures, an incubator owned and backed by Elbit Systems and supported by the Israel Innovation Authority (IIA).
