It doesn’t work on the ground, let’s try in space? Porsche invests in rocket startup Isar Aerospace

It doesn’t work on the ground, let’s try in space? Porsche invests in rocket startup Isar Aerospace

FineAuto

The Porsche concern produces several sports cars such as the 911 Turbo S. It is also interested in rockets.

The brand announced a new investment in the Isar Aerospace startup. This proves that Elon Musk and Jeff Bezos are not the only ones investing in space technologies that are becoming more popular.

The investment does not come from Porsche AG, but from the holding company Porsche Automobil Holding SE, which owns a controlling stake in Volkswagen AG (VW Group). This means that the VW Group’s Porsche Automotive Division is indirectly owned by Porsche SE in this complex tree of corporations. Porsche Engineering and Porsche Design are also subsidiaries of Porsche SE. Porsche SE has acquired a single-digit interest in Isar Aerospace.

According to Porsche AG and Porsche SE Board Member Lutz Meschke, as an investor specializing in mobility and industrial technology, the brand management is convinced that innovation will provide affordable and flexible access to space.

Isar Aerospace Technologies GmbH from Munich was founded in 2018 with a focus on space technology and the development and production of launch vehicles for satellites. According to the company’s official website, they are working on “cutting edge research in rocket science.” Their ultimate goal is to provide “sustainable and economical access to space.” Thanks to the latest round of funding, the company received $ 75 million from investors including Porsche SE. More than $ 180 million have been invested to date.

Using these funds, Isar Aerospace is developing the Spectrum rocket, which is expected to launch in 2022. The economic advantages of this rocket can be achieved due to the high degree of automation of the production process, which will make it possible to reduce the cost of transporting satellites into orbit.

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