Star trek to space and the US as Magdrive raises $10.5m

The company is pioneering the next generation of satellite propulsion with its Magdrive Rogue Thruster, which addresses a critical challenge in the rapidly growing space industry.

The first in-space test is scheduled for June in collaboration with D-Orbit, providing the rapidly growing satellite constellations market with a high-thrust and high-efficiency solution – powered sustainably by solar panels – at low mass and volume.

The Magdrive Rogue Thruster solves major issues with current propulsion systems by enabling high cadence avoidance manoeuvres with extremely low volume and mass.

Experts predict there will be at least 100,000 satellites in orbit within five years. Current satellite propulsion technology doesn’t allow for the sustainable levels of agility and manoeuvrability needed to avoid collisions in space.

Unlike other thrusters, Magdrive uses solid metal as propellant. This can be sourced and refuelled from recycled ‘space junk’ or other in-space sources, such as asteroid mining, which is far more sustainable and will also allow for much more expansive space travel.

The innovation allows spacecraft to travel farther and manoeuvre with greater precision than ever before, the company says.

Magdrive was founded in 2019 by CEO Mark Stokes, a mechanical and deep learning engineer with expertise in hands-on prototyping of robotics and aerospace systems, and CTO Dr Thomas Clayson – a plasma physicist and pulsed power electronics engineer.

Stokes said: “Magdrive represents the next generation of spacecraft propulsion, turning humanity’s grand ambitions in space into a reality with mega constellations, asteroid mining, and in-space servicing, assembly, and manufacturing – all the building blocks to make us a space-faring civilisation.”

Redalpine General Partner Harald Nieder said: “Magdrive’s technology has tremendous potential to change the game in spacecraft propulsion to solve big pain points in the status quo, including manoeuvrability and longevity.

“Propulsion is literally driving the emerging space economy. We are delighted to back Tom, Mark, and the team as they push forward this leap in spacecraft propulsion.”

Founders Fund, who led Magdrive’s first funding round, and Balerion, Alumni Ventures, Outsized Ventures, 7percent and Entrepreneur First also contributed to the seed round.

The funding will enable Magdrive to continue research and development for its systems for all sizes of satellites, build a manufacturing facility in the UK and establish a US office.

Magdrive’s long-term goal is to scale its propulsion system to support grander ambitions in space, including emerging industries such as in-space servicing, assembly and manufacturing, space-based solar power, large scale constellation management and interplanetary travel.

Magdrive raised a pre-seed round of $2 million in 2020 and has also received over $10 million of government funding to date, including support from the UK government, UK Space Agency, and European Space Agency.