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Wales Online
14-05-2025
- Business
- Wales Online
Welsh in-space advanced manufacturing start-up Space Forge in huge funding boost
Welsh in-space advanced manufacturing start-up Space Forge in huge funding boost In one of the biggest funding rounds for a Welsh start-up firm Space Forge has secured £22.6m from a global consortium of investors. Space Forge. Cardiff-based Space Forge, which is pioneering advanced material in space manufacturing such as compound semiconductors via its returnable satellite technology, has a secured £22.6m investment to support its commercialisation plans. In the biggest ever Series A fundraising round in the UK space tech sector, and one of the biggest for a Welsh start-up, Space Forge has been backed by a strategic global consortium led by the NATO Innovation Fund, with significant support from the World Fund, the National Security Strategic Investment Fund (NSSIF) and £2m from British Business Bank through its regional angels programme. The round has also been supported by the Cardiff Capital Region's £50m Innovation Investment Capital fund. The latest equity investment deals in Welsh business READ MORE: Cardiff to benefit from thousands of civil service jobs relocating from London READ MORE: By harnessing the unique conditions of space-including microgravity, vacuum, and extreme temperature differentials-Space Forge, which employs 70 in Cardiff at Eastgate Business Park and also has a presence in Florida, is unlocking the ability to manufacture materials that are impossible to produce on earth. These advancements have wide-reaching applications in compound semiconductors, quantum computing, clean energy, and defence technologies. Research suggests space-made materials could cut CO₂ emissions by 75% and energy use by 60% in key infrastructure, offering a powerful tool for strengthening climate resilience. Article continues below The latest investment will accelerate the development of the firm's ForgeStar-2 next-generation returnable manufacturing satellite while also supporting its first in-orbit demonstration mission, ForgeStar-1, set to launch later this year in Florida. Together, these missions will demonstrate a scalable, reusable platform for manufacturing high-performance materials in space-delivering breakthroughs for security, clean energy and infrastructure. The technology offers a promising pathway to strengthen supply chains for semiconductor production, reducing dependence on vulnerable earth-based manufacturing systems. Joshua Western, chief executive and co-founder, Space Forge, said: '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 value of the equity investment by the Cardiff Capital Region in supporting the round has not been disclosed. Its investment is the fourth from the fund which is managed by Capricorn Fund Managers with PwC providing on investment research and sourcing. Leader of Cardiff Council and vice chair of the Cardiff Capital Region - a statutory body covering the 10 local authorities of south-east Wales - Huw Thomas, said: 'CCR is proud to help fund Space Forge's next steps in on-earth and in-orbit advanced manufacturing. "Their trailblazing approach in the space industry is gaining interest and investment in a highly competitive tech sector and it's very encouraging to see a local pioneering company on a global stage.' Dr Paul Bate, chief executive of the UK Space Agency, said: 'This landmark investment in Space Forge is a powerful vote of confidence in the UK's growing space economy and its global leadership in space-enabled innovation. Based in Cardiff Space Forge exemplifies how cutting-edge space technology is thriving across all corners of the UK. "By transforming the way we manufacture high-performance materials, Space Forge is not only pushing the boundaries of what's possible in orbit, but will also deliver real-world benefits on earth — from cleaner energy to more secure supply chains. We're proud to support pioneering companies like Space Forge as they grow and help secure the UK's position at the forefront of the space and semiconductor sectors.' The calibre of investors backing this round reflects Space Forge's growing importance in advancing secure, sustainable technologies - across defence, aerospace, and clean tech sectors globally. Chris O'Connor, partner, NATO Innovation Fund, said: 'We are excited to be supporting Space Forge – a company that is innovating material manufacturing, while also advancing Europe's access to space, supply chain independence and long-term resiliency. We look forward to working with the Space Forge team to leverage their technological breakthroughs in order to secure the future of NATO nations.' Daria Saharova, general partner at World Fund, said 'Demand for computing power is doubling every two months. Europe imports 80% of its chip supply, with 90% of the world's most-advanced semiconductors coming from Taiwan. A geopolitical escalation there could have catastrophic consequences for Europe. We urgently need a resilient, homegrown supply of the next-generation supermaterials required for the future of compute. We also need this homegrown chip supply to be produced sustainably. Industry Minister Sarah Jones said: 'This is 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. "Our modern industrial strategy will drive growth in these sectors even further, giving businesses the confidence they need to commit to investing in the UK and ensuring we remain a partner of choice for space agencies around the world.' Mark Barry, senior investment director at British Business Bank, said: 'We are delighted to make this first investment under the new co-investment strategy as part of the regional angels programme. The investment into Space Forge aligns with our overall programme goal to strengthen the UK's regional economy by supporting high-growth businesses, and to leverage the commercial potential from our existing portfolio. We first backed Space Forge through a partner back in 2021 and under Josh's leadership, the company is delivering on its mission to be the in-space manufacturer of choice.' Article continues below The round has also been supported by Gaingels, SpaceVC, Unruly, with additional contributions from Helium Three, Stellar and TypeOne, and London Technology Club.
Axios
14-05-2025
- Business
- Axios
Exclusive: Space Forge raises $30M for chips in space
Space Forge raised $30 million in Series A funding to develop ultra-efficient semiconductors and other advanced materials in orbit, the startup's CEO tells Axios. Why it matters: The U.K. startup contends it can make energy-saving materials that are impossible to develop within Earth's atmosphere. Driving the news: The NATO Innovation Fund led the round, with partner Chris O'Connor joining Space Forge's board. World Fund, the National Security Strategic Investment Fund and British Business Bank also participated in the raise, which closed in December. How it works: Space Forge aims to develop seed crystals in space, enabling production of larger high-purity wafers of the material back on earth. The company is first focusing on semiconductors, and keeping an eye toward low-carbon energy, quantum computing, and defense. It plans to generate revenue from the seed crystals, and by selling slots in its launch vessels to other companies and organizations. What they're saying:"Our space-manufactured semiconductors and supermaterials are designed to dramatically outperform what's possible with traditional Earth-based production," CEO Joshua Western tells Axios. Between the lines: The company contends that such materials can deliver achieve emissions reductions even when accounting for the air pollution generated by rocket launches. Flashback: Space Forge in 2021 raised a $10.2 million seed round led by World Fund, Type One Ventures and Space Fund. What's next: Space Forge expects to launch its first vessel, ForgeStar-1, with an undisclosed U.S. launch provider this year.
Sky News
11-04-2025
- Business
- Sky News
Company started by 'two blokes in a Cardiff garage' is about to launch a game-changing space factory
Why you can trust Sky News A company started by "two blokes in a Cardiff garage" is about to launch a game-changing space factory that could start a new industrial revolution. Space Forge will ship its prototype manufacturing satellite in the coming weeks from an industrial park in the city to the US, where it will be sent into orbit on a SpaceX rocket. Sky News was given exclusive access to the company's dust-free 'clean room' to watch engineers carry out final checks. ForgeStar-1 is already loaded up with the raw ingredients to make a new generation of super-efficient semiconductor chips that would be impossible to produce on the planet's surface. Joshua Western, the company's co-founder, said: "This is the next industrial revolution but it's in space, it's not on Earth." Semiconductors are found in almost all electronic technology. They're currently made from silicon crystals, but the material has a performance ceiling. However, in the microgravity and vacuum of space it's possible to make crystals from a new mix of chemical compounds that would allow computer chips to work faster while consuming less power. "We're able to reduce the energy consumed where they get deployed by more than 50%," Joshua said. "In the UK alone, we're talking billions of pounds being saved in the energy bill alone. "That's in terms of consumer mobile data, but also data applications that are really (energy) hungry - artificial intelligence, quantum computing, and all the way down to people using ChatGPT at home." The prototype will test out the process of making the material, and it's been given the first in-orbit advanced manufacturing licence by the Civil Aviation Authority. If it works, the next mission will be for real, producing pure crystals that could be cloned back on Earth to meet huge demand. The company reckons such high-grade material for electronics could be worth up to £45m per kilogram, far outstripping the cost of launching on a rocket. But to safely bring such a precious cargo back to the planet, the company has had to design its own lightweight heat shield able to withstand high temperatures as it plunges through the atmosphere. It's called Pridwen, named after King Arthur's shield, and it's folded, origami-style, into a tiny space until it's needed. Then it springs open like an umbrella to protect the satellite and slow it down so that it gently splashes down in the ocean, where it can be picked up. ForgeStar-1 is a pioneer. The UK's Satellite Applications Catapult, which supports space start-ups, says everything from stronger metal alloys to powerful cancer drugs could in future be made in space. Nafeesa Dajda, chief of missions at the Catapult, said Britain is taking the lead. "We can communicate from pretty much anywhere on Earth using satellite technology," she said. "There's an opportunity now to think about how we use space in a different way and the unique environment that space provides us with, that microgravity environment, means we can do things we just can't do on Earth. "So how big could this be for the UK? Huge. "We've estimated that the opportunity is worth around £20bn to the UK economy over the next 10 years." At Space Forge HQ the team will be anxious to see their satellite leave for the US after years of development work. It's a story that could have come straight from Silicon Valley. "It demonstrates what a couple of guys who started in a garage on the outskirts of the city when they got bored one night in the pub were actually able to do," said Joshua. "There is an optimism with technology now (in the UK) that we didn't always used to have. "There is a new life in the industrial base, especially around engineering, and that's despite all of the challenges that it has right now."
Telegraph
16-03-2025
- Business
- Telegraph
Welsh startup to launch zero gravity micro-factory into space
A Welsh space start-up planning to use robotic factories in space to make rare materials will launch into orbit after securing approval from the airspace regulator. Cardiff-based Space Forge is to launch one of its oven-sized factories from the US later this year. The company is hoping to use the near zero gravity conditions of low-earth orbit to make crystals for use in semiconductors, new types of drugs and metal alloys. The company was dealt a major setback two years ago when Virgin Orbit, Sir Richard Branson's launch company, failed to send its payload into space. A Space Forge satellite was lost when the payload crashed into the ocean, and the company's executives later said the UK had become uncompetitive for launches. It has now secured a licence from the Civil Aviation Authority for its ForgeStar-1 satellite to enter orbit, which would make it the first UK satellite of its kind. Joshua Western, the company's chief executive, said that Space Forge had not yet announced a launch partner but that lift-off would happen in the US. The low gravity and vacuum conditions of space, as well as the sub-zero temperatures, offer the prospect of advanced manufacturing that would not be possible on the earth's surface, despite the expense and difficulty of sending up machinery. They would allow the company to grow extremely pure crystals that could lead to more advanced microchips. Mr Western said the launch would be a test run, allowing the company to use onboard sensors and footage from its factory to confirm that the conditions are adequate for in-orbit manufacturing, as well as the heat shield it will use to return to earth. He said flights involving production-ready factories could be launched as soon as next year. The US launch is likely to be regarded as a setback for Britain's space industry. Virgin Orbit's 2023 launch attempt from Cornwall was the first from UK soil but no more have been attempted since then. Plans for a launch from the Shetland Islands received a boost last week when the German and British space industries agreed to collaborate on launching intelligence-gathering satellites as soon as next year. Flights could take place from the SaxaVord spaceport on Unst, the most northerly inhabited Shetland Islands. Mr Western said he would embrace being able to launch his factories into space from Britain, in part because he would then not have to ship them around the world. He said: 'The two things that we're going to need to see UK launch achieve are reliability and price. And if it can meet those things then we will absolutely be a champion of it.'
