Ibadan, 12 December 2023. – Helicity Space, a commercial space company developing in-space propulsion and power technology based on fusion power, has raised $5 million in seed round funding from several new investors. The successful raise enables Helicity Space to advance its proprietary technology, the Helicity Drive. Furthermore, the Drive consists of scalable fusion propulsion engines that could enable safer, faster, reusable, and more fuel-efficient travel into deep space.
The new round also featured participation from investors like Airbus Ventures, TRE Ventures, Voyager Space Holdings, E2MC Space, Urania Ventures and Gaingels. The Company aims to change the game with fusion propulsion and its applications to advance exploration efforts, ultimately benefitting life on Earth.
The main benefit of fusion, compared to conventional chemical reactions, is that it produces ten million times more energy per unit mass of fuel. This means less fuel is necessary, making higher speeds and continuous thrust along agile trajectories possible. This goal is the culmination of more than 20 years of research by world-class scientists together to develop a novel approach to achieving fusion. The innovation leverages plectonemic plasma jets for confinement, magnetic reconnection for heating, and peristaltic magnetic compression for raising energy density.
Speaking about the raise, Dr. Stephane Lintner, Co-founder of Helicity Space, said, “Nuclear fusion propulsion technology is the critical missing ingredient to fast, sustainable and safe space exploration of our solar system. ” Furthermore, He thanked the investors for “not only understanding the impact this new technology will have but also for believing in the entrepreneurial spirit that’s required to expand the robust space economy from Earth’s orbit and Cislunar’s operating grounds all the way to deep space.”