• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to secondary sidebar
  • NEWS:
  • SatNews
  • SatMagazine
  • MilSatMagazine
  • SmallSat News
  • |     EVENTS:
  • SmallSat Symposium
  • Satellite Innovation
  • MilSat Symposium

SatNews

  • HOME
  • Magazines
  • Events
  • SmallSat Symposium Updates
  • Industry Calendar
    • IN PERSON
    • VIRTUAL
  • Subscribe

Additional Seed Funding for Orbit Fab’s Gas Stations in Space™

December 17, 2020

A unique vision that has come to life receives additional funding. Orbit Fab’s Gas Stations in Space™ Propellant Supply Chain has raised a seed extension round led by Munich Re Ventures, the strategic corporate venture capital arm of Munich Re Group that enables Orbit Fab to achieve its vision of an in-orbit ecosystem for satellite servicing, national security, and space commercialization. Orbit Fab recently announced that it will launch its first fuel tanker, Tanker 001 Tenzing, in the coming year.

Munich Re Ventures is the strategic corporate venture capital arm of Munich Re Group, a major provider of reinsurance, primary insurance, and insurance-related risk solutions.

The funding will help Orbit Fab achieve its vision of an in-orbit ecosystem for satellite servicing, national security, and space commercialization. Orbit Fab recently announced that it will launch its first fuel tanker, Tanker 001 Tenzing, in the coming year.

Astronaut Christina Koch puts Orbit Fab’s equipment through its paces on the International Space Station. (Image courtesy NASA and the International Space Station U.S. National Laboratory)

Last month, Orbit Fab announced that it had signed an agreement with Spaceflight Inc. to launch its first operational fuel depot to orbit in 2021. Tanker 001 Tenzing will store propellant in sun synchronous orbit, where it will be available to satellite servicing vehicles or other spacecraft that need to replenish fuel supplies.

“We’re honored to have Munich Re Ventures join the team of investors that understand our vision of the importance of building a refueling infrastructure in orbit,” said Daniel Faber, Chief Executive Officer of Orbit Fab. “Whether for national security, space exploration, or telecommunications, it is no longer acceptable to throw away valuable space assets because they have run out of fuel. A great opportunity is unfolding for the companies that are prepared to support the growing on-orbit servicing ecosystem.”

“Having the backing of Munich Re Ventures cements an important relationship for us based on their unique understanding of risk among investors,” said Jeremy Schiel, Chief Development Officer and Co-Founder of Orbit Fab. “Refueling in space is going to be essential to advanced space architectures, and we are a leader in terms of providing capabilities that support next-generation commerce and protection of the space domain.”

Orbit Fab’s fuel depots are designed to sustain spacecraft with a Self-Driving Satellite™ docking kit, known as SPARK, for guiding spacecraft without the need for complex robotic arms. Its Satellite Gas Cap™ fluid transfer interface, known as RAFTI, has been adopted by multiple spacecraft manufacturers to extend the life of their satellites. SPARK and RAFTI were developed in cooperation with 50 companies and organizations and are expected to become the industry’s common cooperative docking and refueling interfaces.

“Munich Re Ventures sees significant value in the Orbit Fab refueling infrastructure as an enabling part of the in-space servicing ecosystem,” said Timur Davis, PhD, Investment Principal at Munich Re Ventures. “The pace of growth of new entrants in the satellite servicing market is a key indicator that there will be demand for a propellant supply in space. Orbit Fab has the talent and technology to meet that need and has already announced its first operational mission.”

Earlier this year Orbit Fab was selected by the U.S. Air Force to fully flight qualify the RAFTI service valve and it received a National Science Foundation (NSF) grant to test its SPARK docking system. Previously, Orbit Fab successfully demonstrated its propellant storage and delivery systems in an unprecedented private transfer of water to the International Space Station.

Filed Under: Cybersecurity, Finance, Funding

Primary Sidebar

Most Read Stories

  • ULA's Amazon Project Kuiper now set for April 28 launch
  • Rocket Lab confirms D2C ambitions
  • Russian satellite tumbling out of control
  • ULA's launch of Amazon Project Kuiper now is YTBD
  • UPDATE: United Launch Alliance Amazon Project Kuiper launch targeting April 28

About Satnews

  • Contacts
  • History

Archives

  • May 2025
  • April 2025
  • March 2025
  • February 2025
  • January 2025
  • December 2024
  • November 2024
  • October 2024
  • September 2024
  • August 2024
  • July 2024
  • June 2024
  • May 2024
  • April 2024
  • March 2024
  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020

Secondary Sidebar

x
Sign up Now (For Free)
Access daily or weekly satellite news updates covering all aspects of the commercial and military satellite industry.
Invalid email address
Notify Me Regarding ( At least one ):
We value your privacy and will not sell or share your email or other information with any other company. You may also unsubscribe at anytime.

Click Here to see our full privacy policy.
Thanks for subscribing!