As per public filings, ArianeGroup completed a €27 million investment into MaiaSpace on 27 June 2023. Filings indicate that MaiaSpace issued an additional 6.75 million shares as part of the agreement.
Having been founded in late 2021, MaiaSpace is working towards the ambitious goal of a 2025 maiden flight of Maia. The vehicle is a partially reusable two-stage rocket that will be capable of deploying 500 kilograms to orbit when the first stage is being recovered and 1,500 kilograms when it’s not.
The €27 million investment comes less than eight months after ArianeGroup injected €6 million into MaiaSpace. This latest investment does, however, represent a significant vote of confidence in the work being done at the microlaucher subsidiary.
In 2022, MaiaSpace reported total expenses of just under €3.5 million. At that rate, the €27 million investment will give the company several years of runway. However, the company is likely to accelerate its manufacturing activities and hiring as it nears the planned 2025 debut of Maia.
The company recently completed cryogenic testing of a prototype of a Maia second stage. It is also in the process of manufacturing a second prototype that will be utilized for hot fire testing that is currently slated for early 2024.
As a subsidiary of ArianeGroup, MaiaSpace benefits from key technology developed by its parent company. Maia will utilize the Prometheus methalox rocket engine that ArianeGroup is developing under an ESA contract. ArianeGroup successfully completed the first hot fire test of a Prometheus engine in June 2023.
In addition to Prometheus, MaiaSpace is also utilizing the work being done by ArianeGroup on Themis, a reusable booster demonstrator that will also be powered by Prometheus. As a result, MaiaSpace will be keeping a close eye on the initial hop tests of Themis, which are slated to begin in 2024.
