Luxembourg, 1 December 2020. – Propelling innovation: the Israeli startup NewRocket develops a new gel-fueled space engine that is “powerful, controllable and environmentally friendly”, the company said.
The “groundbreaking PowerGel-propellant offers green propulsion, without compromising on high performance and full active thrust control,” NewRocket claims. “(T)he gel propellant is safe and non-toxic, thereby dramatically reducing fueling, storage and ground service costs”.
The Tel Aviv-based firm that emerged from the startup incubator Incubit Ventures recently won its first contracts with leading aerospace corporations and secured a $1 million funding from the UK-based Consensus Business Group (CBG).
NewRocket was founded by Zohar Schlagman and Moti Elyashiv at Incubit Ventures, an incubator owned and backed by the aerospace group Elbit Systems and supported by the Israel Innovation Authority.
The technology used by NewRocket is based on the work of Benny Natan from the Faculty of Aerospace Engineering at the Technion Israel Institute of Technology and was licensed to the company.