Insider Brief
- ION-X has raised €13 million in a funding round aimed at industrializing its thrusters and expanding its market reach.
- The funding round included contributions from Expansion, Technofounders Participation, the European Innovation Council Fund, and the Île-de-France Region through its Reindustrialization Fund managed by Innovacom.
- The company plans to produce 200 ion thrusters annually by 2028 at a new facility in the Île-de-France region, targeting an output of 10 thrusters per month by 2026.
ION-X, a French company specializing in ion propulsion technology for small satellites, announced it has raised €13 million in a funding round aimed at industrializing its thrusters and expanding its market reach. The startup, a spin-off from CNRS and the Technofounders startup studio, plans to produce 200 ion thrusters annually by 2028 at a new facility in the Île-de-France region.
The funding round included contributions from Expansion, Technofounders Participation, the European Innovation Council (EIC) Fund, and the Île-de-France Region through its Reindustrialization Fund managed by Innovacom. ION-X will use the funding to scale its production capabilities, targeting an output of 10 thrusters per month by 2026. The company emphasizes a localized supply chain, sourcing propellant and manufacturing components within France.
ION-X’s ion thrusters aim to meet the growing demand for space mobility solutions tailored to small satellites and constellations. With a market increasingly seeking reliable and cost-effective propulsion systems, ION-X’s technology could play a pivotal role in enabling sustainable space missions.
Thomas Hiriart, CEO of ION-X, highlighted the importance of this funding in advancing the company’s ambitions. “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.”
The investment aligns with broader strategic objectives. Alexandra Dublanche, Vice President of the Île-de-France Region, emphasized the regional impact of the initiative. “With the construction of a high-tech aerospace production site, ION-X will create jobs, energize the Île-de-France region, and uphold the competitiveness and excellence of the New Space sector in France,” she said.
This funding round also underscores the confidence of investors in ION-X’s technology and execution capabilities. Charles Beigbeder, General Partner at Expansion, noted the company’s leadership in electrospray propulsion and its potential for international growth.
The EIC Fund, which combines grants and investments, views its involvement as a step toward strengthening Europe’s space technology leadership. Svetoslava Georgieva, Chair of the EIC Fund Steering Board, remarked, “Supporting [ION-X] reinforces Europe’s ability to innovate and lead in space technology.”
Image credit: ION-X
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