Insider Brief
- ATMOS Space Cargo has received €13.1 million in funding from the European Innovation Council Accelerator.
- This grant is part of the European Union’s Horizon Europe program and consists of a €2.5 million EIC grant, €5.3 million in equity from the EIC fund, and €5.3 million in private equity.
- The funding will support ATMOS in advancing its PHOENIX 2 capsule, a next-generation re-entry vehicle designed to return a wide range of payloads from space.
ATMOS Space Cargo, a European space logistics startup, has received €13.1 million in funding from the European Innovation Council (EIC) Accelerator. This grant, part of the European Union’s Horizon Europe program, consists of a €2.5 million EIC grant, €5.3 million in equity from the EIC fund, and €5.3 million in private equity.
This funding will support ATMOS in advancing its PHOENIX 2 capsule, a next-generation re-entry vehicle designed to return a wide range of payloads from space. The company is accelerating the development of this capsule, which will be capable of carrying larger payloads than the initial version. A crucial part of the funding agreement requires ATMOS to conduct two test flights of the PHOENIX 2 within a set timeframe, in line with its roadmap for commercial deployment.
ATMOS’ current focus is on the upcoming flight of its PHOENIX 1 capsule, which is slated for launch on SpaceX’s Bandwagon-3 mission no earlier than April 2025. The company also secured a commercial contract in December 2024 with Space Cargo Unlimited for seven re-entry missions through 2027, solidifying its position in the space logistics sector.
The PHOENIX capsule is at the forefront of re-entry technology. Its inflatable heat shield allows for more efficient re-entry and significantly reduces downmass costs, making it a key solution for microgravity experiments and in-space manufacturing. The platform can currently carry up to 100 kg, with future versions expected to handle payloads of several tonnes, including entire rocket stages. ATMOS is also involved in the ICARUS consortium, which focuses on the development of inflatable heat shields for rocket stages, further expanding its capabilities.
Marta Oliveira, Co-founder & COO of ATMOS, stated, “Receiving this funding marks a significant milestone for the entire ATMOS team as it underscores the strong support for the technology we are developing. It plays a crucial role in advancing the PHOENIX 2 capsule and reinforces our commitment to making reusable space logistics a reality in the coming years.”
Image credit: ATMOS Space Cargo
