Cardiff-based Space Forge, a pioneering company in space-based advanced materials manufacturing and return technology, has secured a massive £22.6 million in Series A funding. This landmark investment, the largest Series A ever secured by a UK-based space tech company, signifies a major leap forward for in-space manufacturing and its potential to revolutionize industries on Earth.
The funding round was led by the NATO Innovation Fund, with significant contributions from a strategic global consortium including World Fund, the National Security Strategic Investment Fund (NSSIF), and the British Business Bank through its Regional Angels Programme. Additional investors include Innovation Investment Capital Limited Partnership, Gaingels, SpaceVC, Unruly, Helium Three, Stellar, TypeOne, and the London Technology Club.
Space Forge is developing returnable manufacturing satellites that produce next-generation super materials and advanced semiconductors in the unique environment of low Earth orbit. This environment offers microgravity, a natural vacuum, and extreme temperature differentials, all of which can be harnessed to create materials that are difficult or impossible to produce on Earth. The company's reusable satellite platforms are designed to return these materials, enabling commercial scalability.
The investment will be used to accelerate the development of ForgeStar-2, Space Forge's next-generation returnable manufacturing satellite. It will also support the upcoming launch of ForgeStar-1, the company's first in-orbit demonstration mission, slated for later in 2025. This initial mission, dubbed 'The Forge Awakens,' is expected to launch aboard a SpaceX Falcon 9 rocket. These missions will demonstrate a scalable, reusable platform for manufacturing high-performance materials in space, with applications for security, clean energy, and infrastructure.
Space Forge's ambitions tap into the fast-emerging area of the space economy: orbital manufacturing. By manufacturing in space, the company aims to produce materials that dramatically outperform their terrestrial counterparts. The company's analysis suggests that space-made materials could reduce CO₂ emissions by up to 75% and cut energy use by 60% across high-value infrastructure such as EV charging networks, cloud data centers, and advanced telecoms. In automotive applications, they could halve electric vehicle charging time.
Joshua Western, CEO and co-founder of Space Forge, emphasized the significance of this funding, stating, "This funding marks a significant milestone, not just for Space Forge, but for the entire space economy. With the backing of our investors, we're accelerating our mission to make space a practical and accessible platform for industrial-scale manufacturing. Our upcoming launches will prove that the future of materials innovation lies beyond Earth, helping us build a more secure, sustainable, and technologically advanced world."
The potential benefits extend beyond environmental impact. Space Forge's technology offers a pathway to strengthen supply chains for semiconductor production, reducing dependence on vulnerable Earth-based manufacturing systems. This is particularly relevant, considering the current global demand for computing power is rapidly increasing.
Government officials have also lauded the investment in Space Forge. Industry Minister Sarah Jones hailed it as "great news for the UK's space industry and a vote of confidence in the cutting-edge advanced manufacturing technology Space Forge is pioneering in Wales." She further noted that Space Forge's in-space manufactured semiconductors can reduce energy usage significantly by harnessing the unique conditions of space. Dr. Paul Bate, CEO of the UK Space Agency, echoed this sentiment, emphasizing the real-world benefits on Earth, from cleaner energy to more secure supply chains, that will result from Space Forge pushing the boundaries of what's possible in orbit.
