Electronics Weekly
The company now aims to produce 200 ion thrusters per year – which manoeuvre small satellites – by 2028. This will be done at its future production facility in the Île-de-France region.
ION-X
The Paris-based startup is a spin-off from the French National Centre for Scientific Research (CNRS) and the startup origansiation Technofounders.
“This funding round is a decisive step for ION-X,” said the CEO of ION-X, Thomas Hiriart. “It allows us not only to launch the industrialization of our ion thruster but also to accelerate our growth in a rapidly expanding sector.”
“We are deeply convinced that our propulsion solutions can revolutionize the space mobility market, contribute to sustainable, innovative, and cost-effective space missions, and carve out a significant commercial position in a market eager for reliable thrusters.”
Existing investors involved in the Series-A funding round included Expansion and Technofounders Participation. New investors included the European Innovation Council (EIC) Fund (“Europe’s biggest deep-tech investor”). And also the Île-de-France Region, via its Reindustrialization Fund.
“ION-X is today a leader in electrospray propulsion technology, and we believe this will quickly make them market leaders,” said Charles Beigbeder, a General Partner at Expansion. “Since our first investment in 2022, they have demonstrated their execution and recruitment capabilities, and we have full confidence in their international ambitions.”
The company also highlighted technological sovereignty. Specifically, that its production facility will be located in the Paris region and its propellant sourced in France. ION-X, it says, “centralises nearly its entire supply chain domestically”.
EIC
Last month, ION-X was one of the EIC space companies selected for its CASSINI Business Accelerator.
In the fourth cohort were two fellow French companies: Toulouse-based Infinite Orbits and Paris-based Oledcomm.
“The cohort will run from November 2024 to April 2025,” states EIC. “During this period, the accelerator will help start-ups boost their commercial growth through a blend of initiatives. Participants will benefit from training sessions and tailored mentoring from industry experts, aimed at offering essential support on their innovation journey.”
See also: IENAI raises €4 million for space electrospray thruster system
