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14 December 2017

Enpulsion powers up $1.4m investment

The spinout from University of Applied Sciences Wiener Neustadt has obtained capital from AWS Seedfinancing, a program operated by Austria’s federal development bank.

Author: Thierry Heles, editor

Enpulsion, an Austria-based aerospace propulsion technology spinout from University of Applied Sciences Wiener Neustadt, has raised €1.2m ($1.4m) in funding, Trending Topics reported on Tuesday.

The round was led by private investor Alon Shklarek and included a contribution from AWS Seedfinancing, a grant and loan program managed by Austrian state-owned development and financing bank Austria Wirtschaftsservice.

Founded in 2016, Enpulsion is developing modular propulsion systems for nanosatellites. The company was set up by the institution’s research and tech transfer arm, Fotec, and also exploits research undertaken at multilateral space agency European Space Agency.

The money will support expanded production capacity to cope with international demand for the system, particularly from clients in the US. Enpulsion currently has orders for more than 100 propulsion devices.

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