NewRocket News
5 articles
growth-positive
NEWROCKET: The Company that has Changed Rocket Propulsion Attracts Investors on its Way to the US Market
Israeli startup NewRocket has developed a gel-based rocket fuel technology that is stable, non-toxic, and cost-effective. The fuel, called PowerGel, combines standard aviation fuel with patented components and can be stored and operated as a gel. It eliminates the need for costly infrastructure and reduces the risk of toxic leakage. NewRocket has received R&D contracts and investments worth $2.5 million, with Consensus Business Group as the leading investor. The company is now targeting the global market, particularly applications in New Space, such as manned space flights and satellite maneuvering. NewRocket aims to develop the entire propulsion system and expects annual sales turnover of at least $100 million.
PartnersInvestmentExpand
growth-positive
NewRocket's next-generation engines aren't just futuristic, they're green
Israeli startup NewRocket has received a $1 million investment from the Consensus Business Group (CBG) to develop its low-cost, green rocket engines that use clean nontoxic gel fuel. The company is looking to partner with aerospace groups for further testing and aims to raise an additional $5 million. NewRockets gel-like fuel is cheaper to produce, non-toxic, and reduces storage and other costs compared to traditional fuels. The companys engines can be controlled and switched on and off an unlimited number of times, making them suitable for NewSpace applications. NewRocket is also focused on contributing to the green aspect of space travel by reducing environmental harm and health risks for employees. The company is seeking strategic space-tech partners and additional investments to further develop its engines and test them in space.
InvestmentPartners
growth-positive
NewRocket introduces a New Generation of Space Engines - SpaceRef
NewRocket, a NewSpace startup company, has launched a new generation of rocket engines. The company develops gel-fueled rocket engines that are powerful, controllable, and environmentally friendly. NewRocket has won contracts with leading aerospace corporations and is executing projects worth over $6 million. They have secured $1 million in funding from the UK-based Consensus Business Group (CBG). The investment will help NewRocket accelerate engine development and expand its global reach. The companys gel propellant offers green propulsion and reduces fueling, storage, and ground service costs. NewRockets solution disrupts the market and meets the needs of the NewSpace market. The technology used by NewRocket is based on technology developed by Prof Benny Natan from the Technion – Israel Institute of Technology.
CustomersInvestment
growth-positive
Novel gel propulsion to slash cost of communication satellites
Israeli startup NewRocket is developing gel propulsion technology for rockets, offering a cheaper and more environmentally friendly alternative to traditional fuels. The gel technology, developed by Prof. Benny Natan at the Technion-Israel Institute of Technology, aims to bring down the cost of propulsion and enable the small satellite industry. NewRocket has signed contracts with undisclosed customers and expects to send satellites into space by mid-2020. The companys main potential lies in the international commercial space industry, but it has also identified applications for the aviation and power-generation markets.
InvestmentExpand
growth-positive
Israeli Startup to Present New Gel-fueled Space Engine
Israeli startup NewRocket Ltd. plans to have a working prototype of its gel-propellant propulsion engine by Q1 2019. The gel-propellant technology has a high energy density and is more environmentally friendly. The engine could be used in mini-satellites and other space vehicles. NewRocket has completed a proof of concept and received a $700,000 investment from Incubit, a subsidiary of Elbit Systems. The company recently appointed Eran Privman as CEO, who previously served as CEO of SpaceIL and Amdocs Australia.
InvestmentManagement Changes
