Effective Space, which developed a solution for satellite life extension and maintenance, is being acquired by Astroscale, a leader in the orbital debris remover industry. According to PitchBook, the startup has raised almost $15 million since it was founded, with Oak Pacific and Moshe Hogeg’s Singulariteam leading the investors’ list.
We are talking Space Drones here, people
The Israeli startup’s micro-satellite, or by their cooler name, Space Drones, supply low orbital satellites with a variety of services. The tiny drone weighs in at almost 900 pounds and is built for multiple missions throughout its cycle - which can be as long as 15 years. The innovative Space Drones were developed to service satellites found in the Geostationary orbit, about 35,000 km above the earth.
Once the micro-satellites achieve the targeted height and orbital path, they then maneuver using electric propulsion engines to complete the mission. Effective Space’s solution will at first, supply satellite life extension through its Space Drones, fueling satellites that are running on empty. The drone can connect to any communications satellites in orbit, and once docked, act as an external propulsion source. The drones resolve the challenging act of filling up the tank in space, while also extending the efficiency of the super expensive satellites. In the future, the micro-satellites will also be able to service low and medium orbiting satellites, as well as assist with mining, space manufacturing operations, and even removing satellite debris from orbit.
Effective Space was founded in 2013 by Arie Halsband, former MBT Space Division General Manager. Though not many details about the company’s acquisition by Astroscale US have surfaced, however, it is known that the company’s 30 Tel Aviv based employees will keep their jobs even after the deal has gone through. Astroscale US will establish Astroscale Israel Ltd as a subsidiary, allowing the Effective Space team to keep its R&D department in Israel. According to Halsband, who will serve as the new company’s CEO, “The R&D department will remain in Israel, the team shall continue working on previous projects, and in all likelihood grow as a part of the new company. Astroscale and us share the same vision and strategy regarding the integration of our technology and platform as a logistics solution for governmental and commercial satellites.”