{"id":129874,"date":"2023-12-19T11:53:31","date_gmt":"2023-12-19T10:53:31","guid":{"rendered":"https:\/\/prod1-sb.designtech.space\/spacetech-ohmspace-closes-a-e1-2-million-round\/129874\/"},"modified":"2023-12-19T11:53:31","modified_gmt":"2023-12-19T10:53:31","slug":"spacetech-ohmspace-closes-a-e1-2-million-round","status":"publish","type":"post","link":"https:\/\/www.startupbusiness.it\/en\/spacetech-ohmspace-closes-a-e1-2-million-round\/129874\/","title":{"rendered":"Spacetech, OhmSpace closes a \u20ac1.2 million round"},"content":{"rendered":"

Scientifica Venture Capital announces that it has successfully led the closing of the \u20ac1.2 million investment in OhmSpace, a startup operating in the spacetech sector.<\/strong> Innova Venture, the venture capital fund financed by the Lazio Region, and Galaxia, the national technology transfer hub for aerospace, created on the initiative of CDP Venture Capital’s technology transfer fund together with Obloo, are also participating in the round. This is the ninth investment for Scientifica Venture Capital.<\/p>\n

The aerospace industry consists of companies involved in the development and production of spacecraft, for example satellites of various sizes, including CubeSats, which play an important role in earth observation, communication and meteorology applications.<\/p>\n

OhmSpace stands out for the introduction of an innovative high-temperature electric propulsion system, based on resistojet technology.<\/strong> Resistojets use the electricity supplied by the satellite and collected by solar panels, stored by batteries, and managed through a power distribution system, to electrically heat a gas. The thermal energy accumulated by the gas is converted into thrust with a thermodynamic process that expands the gas at very high speeds, up to 30 thousand km\/h for hydrogen. The higher the velocity of the outgoing gas, the less propellant is needed to perform a certain maneuver.<\/p>\n

OhmSpace’s high-temperature solution offers up to 70% more efficient performance than resistojet competitors on the market, representing a significant improvement in reducing the amount of propellant needed for space maneuvers.<\/strong> In addition, by surpassing the performance of chemical thrusters, OhmSpace removes the need to use toxic propellants for many missions, replacing them with inert gases or water, thus offering more sustainable solutions.<\/p>\n

“The decision to invest in OhmSpace reflects our constant search for breakthrough innovations in the space technology sector as well,” said Riccardo D’Alessandri, managing partner of Scientifica Venture Capital, in a statement. <\/strong>OhmSpace has demonstrated an extraordinary approach in redefining the limits of space exploration through cutting-edge technological solutions. We are excited to support their journey and actively collaborate on their future development.”<\/p>\n

Offices in Italy and Great Britain<\/h2>\n

The new investment round will allow OhmSpace to further accelerate its growth, enhance research and development, as well as expand its market presence. With the financial support and expertise of Scientifica Venture Capital, OhmSpace looks to the future with confidence, foreseeing a rapid integration of high-temperature resistojet technology into satellites and paving the way for a more efficient and sustainable space sector.<\/p>\n

With the aim of increasing the efficiency and sustainability of the space sector, the founder and CEO of OhmSpace Federico Romei has developed his doctoral research, conducted at the University of Southampton, on the electric propulsion system; research that then led to the birth of the OhmSpace project.<\/p>\n

After an international experience, Romei will establish in Italy the leadership of OhmSpace which will be based in the Lazio region.<\/strong> His return sends a strong and positive message to Italian scientists and entrepreneurs residing abroad, highlighting that Italy is able to offer concrete and stimulating opportunities to those who are eager to contribute to the nation’s scientific and technological progress.<\/p>\n

“The financial support of Scientifica Venture Capital plays a crucial role in advancing our mission to make the space more accessible and sustainable – says Romei –<\/strong> we are excited to partner with Scientifica Venture Capital, Lazio Innova and Galaxia and to leverage their experience in the sector to reach new heights and accelerate our growth. I am delighted to announce our next step, which will include the establishment of a manufacturing facility in Italy, while maintaining a strong presence in the UK to continue developing our technology.” (Photo by NASA<\/a> on Unsplash)<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The investment in the Italian-British startup developing a new propulsion system is led by Scientifica Venture Capital together with Innova Venture and CDP 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