Satellite propulsion startup ION-X has announced that it has secured €13 million in new funding, which it will use to scale up the production of its thrusters. The company has now raised approximately €17.3 million.
Founded in 2021, ION-X is developing a novel propulsion system for small satellites that utilizes ionic liquid electrospray thrusters. In May 2024, the French aerospace agency CNES signed a contract to become its first customer. ION-X will deliver a total of three propulsion systems to CNES in the second half of 2025, which will be used for ground testing and in-flight performance verification.
On 10 December, ION-X announced the successful closure of a €13 million funding round. The round saw contributions from existing investors Expansion Ventures and Technofounders Participation, as well as new backers, including the European Innovation Council Fund and the Île-de-France Region through its Reindustrialization Fund.
ION-X will use the funding to industrialize its thrusters, aiming for a production rate of 10 units per month by 2026. By 2028, the company plans to scale up to an annual output of 200 thrusters from a new production facility in the Île-de-France region.
“This funding round is a decisive step for ION-X. It allows us not only to launch the industrialization of our ion thruster but also to accelerate our growth in a rapidly expanding sector,” said ION-X CEO Thomas Hiriart. “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.”
The first in-orbit demonstration of an ION-X ion thruster is expected to begin in early 2025. The propulsion system will be aboard a Space Inventor satellite, which will be launched by a SpaceX Falcon 9.
