Deep Space Energy, a Latvian startup, has closed a pre-seed funding round totalling €930,000 to develop technology that one day could be used to generate electricity on the moon.
The company is developing a power generating technology that uses radioisotopes derived from nuclear waste, which generate heat from natural decay, and require five times less fuel than conventional radioisotope thermoelectric generators currently used in space missions.
“Our technology, which has already been validated in the laboratory, has several applications across the defence and space sectors,” commented Mihails Ščepanskis, founder and CEO of Deep Space Energy.
“First, we’re developing an auxiliary energy source to enhance the resilience of strategic satellites. It provides the redundancy of satellite power systems by supplying backup power that does not depend on solar energy, making it crucial for high-value military reconnaissance assets.”
In the longer term, Deep Space Energy will focus on the ‘moon economy’, providing energy systems for lunar missions. The generator could potentially be used to support rovers and equipment during lunar night, which lasts about 354 hours, and in regions where sunlight is limited.
Pre-seed round
The pre-seed round included €350,000 in private investment led by Outlast Fund and angel investor Linas Sargautis, a former co-founder of NanoAvionics, as well as €580,000 worth of contracts and grants from the European Space Agency, NATO’s Defence Innovation Accelerator for the North Atlantic (DIANA), and the Latvian government.
The funding will be used to commercialise its generator technology, with the company citing its potential application as an auxiliary power source for satellites operating in medium Earth orbit, geostationary orbit and highly elliptical orbit.
European assets
Ščepanskis added that recent geopolitical events, such as the war in Ukraine, have increased the importance of Europe developing its own satellite infrastructure and space technology assets.
“As Europe is trying to become more independent, it is imperative to produce satellites with advanced capabilities on our own,” he said. “Our technology provides an auxiliary energy source for satellites, which makes them more resilient to non-kinetic attacks and malfunctions.”
Egita Poļanska, partner at the lead investor Outlast Fund, noted that the company’s direction aligns with its own strategic goals, “Space energy tech has been stuck with certain limitations for decades, but we’re finally seeing the pieces come together for a real breakthrough – new materials, smarter power systems, and actual commercial demand for lunar operations,” she commented.
“As Europe ramps up its space ambitions, we need our own companies to lead in these foundational technologies. We’re thrilled to back this team and honestly pretty excited to have an actual moonshot in our portfolio, in the most literal sense possible.” Read more here.
