Charleroi, Belgium-based, Aerospacelab has raised $110 million (€94.5m) of fresh cash to expand its manufacturing capacity and improve its bid for a role in IRIS², Europe’s planned highly-secure multi-orbit broadband satellite constellation.
The cash-raising exercise is part of a Series B round, and should enable its 215,000 sq ft factory to be completed and equipped. The round included a dual-tranche funding round of €56 million, and a €38 million commitment from an unnamed European financial institution. The aim is to produce up to 500 satellites each year, starting in 2026 and reaching full output by 2027.
Completing the factory will make Aerospacelab the largest satellite manufacturing facility in Europe.
“It’s not just one side of the market—we’re seeing growth in parallel from institutions and private companies,” commented Benoît Deper, Aerospacelab’s CEO . “European governments are investing more in space defense and sovereignty, which drives demand for satellite hardware… [while] commercial interest is growing in areas such as telecom.”
“We’re focusing—with each new launch—on making our satellite platforms more modular and scalable, [and] advancing additional payload capabilities to support all constellations’ needs,” Deper added.
Last week, SpaceRISE, the consortium in charge of ESA’s IRIS2, said that they had narrowed the field of prime contractors for the constellation to Aerospacelab and Airbus of France.
