Lithuanian Space Start-up Company is Seeking EUR 2.5 Million Investment
Having launched LituanicaSAT-1, one of the first Lithuanian satellites, and nearly completed the development of a second satellite, the Lithuanian space technologies start-up NanoAvionics is seeking a EUR 2.5 million investment from the EU Framework Programme for Research and Innovation Horizon 2020.
NanoAvionics received initial financial support of EUR 50,000 from the European Commission (EC) with the possibility to ensure continued funding for the currently developed miniaturized propulsion system, which will operate with a non-toxic ammonium dinitramide- (ADN-) based mono-propellant.
The second phase of funding is aimed at the implementation of the business plan – having received the EUR 2.5 million investment, the development of the system would be completed and would enter the international market.
The Enabling Chemical Propulsion System(EPSS) concept is a propulsion system that is modular in design, permitting integration with small satellites up to 150 kg. The EPSS will provide significant levels of available thrust and burn duration, permitting small satellites to achieve orbital maneuvering ability, accurate attitude and orientation control, drag compensation and other missions and roles in orbital flight. The EPSS will make use of an environmentally friendly non-toxic fuel ADN-based mono-propellant, thereby opening a wide range of possibilities for cost reduction and safety in small satellite propulsion through avoidance of hydrazine-based fuels.
The EPSS in-orbit testing campaign will be carried out along with LituanicaSAT-2, a 3U CubeSat mission, at the end of 2016. The company plans to issue a publically available propulsion system performance testing report at the beginning of April on their website.
In 2014-2020, the EU Framework Programme for Research and Innovation Horizon 2020 will distribute nearly 80 billion euros in support for innovation, space, nano-technologies and other research.
About NanoAvionics:
NanoAvionics is an aerospace company founded in 2014 as a spin-off of Vilnius University in Lithuania. The company have successfully obtained seed investment from the Practica Capital venture capital fund. Currently, NanoAvionics, along with Vilnius University, is running the LituanicaSAT-2 3U CubeSat project, which is part of the international QB50 mission. The company specializes in integrated CubeSats and small satellites solutions for commercial and scientific missions: mission design, hardware assembly, integration and verification, testing campaigns, standardized products (highly integrated communication, on-board computer, attitude determination and control systems, solar panels, structural elements) and modular chemical propulsion systems.
