The Space Exploration Company, known as The Exploration Company (TEC), is pioneering an innovative product called Nyx, a highly versatile reusable capsule designed to ascend from rockets into the cosmos, proficiently carrying both passengers and cargo.
In a significant boost for advancing its ambitions, TEC announced on Monday that it has successfully secured an impressive $160 million in funding, earmarked specifically for the development of its cutting-edge capsule, which is geared towards transporting astronauts and vital cargo to space stations.
Leading this substantial investment round were prominent venture capital firms Balderton Capital and Plural, alongside participation from notable entities such as the French government-backed investment initiative French Tech Souveraineté and Germany’s DeepTech & Climate Fonds.
Nyx, TEC’s flagship product, boasts impressive reusability; after fulfilling its mission to deliver payloads, the capsule is engineered to safely re-enter the Earth’s atmosphere and prepare for subsequent launches.
“It’s a big market, which is growing at a rate exceeding 10% annually, as numerous nations express a desire to send their astronauts into space and aim for lunar missions,” explained Hélène Huby, founder and CEO of TEC, in a recent interview with CNBC.
This burgeoning sector has been characterized by a dearth of providers, with a few key players, such as SpaceX’s Dragon capsule, alongside competitive offerings from China and Russia.
Huby articulated TEC’s vision: “We said, ‘okay, let’s build this capacity in Europe so that Europe can have its own capsule. Additionally, the world deserves an alternative solution; we cannot solely depend on SpaceX.”
Currently, TEC is diligently advancing the second version of the Nyx capsule, with ambitions to launch it next year, leading up to a finalized model targeted for 2028, which will benefit from financial support provided by the European Space Agency.
Huby disclosed that TEC has successfully signed contracts worth an astounding $800 million to utilize its innovative capsule. These agreements encompass mission collaborations with industry players such as Starlab, which is developing a new space station, and Axiom Space.
With escalating activity surrounding space exploration, particularly among major nations including China, the U.S., and India, one of the most ambitious initiatives is the NASA-led Gateway, which aims to establish the first space station in lunar orbit.
“As the number of people in space increases, so too does the demand for associated cargo. This trend is evident both around Earth and the moon,” Huby observed.
Looking towards the future, Huby envisions TEC as a crucial contributor to the development of innovative technology aimed at facilitating the return of cargo to Earth after its missions in space.
“This is also where we believe our vehicle is poised to make a significant impact,” Huby asserted, underscoring the importance of TEC’s mission in the broader landscape of space exploration.
How does the recent funding impact the timeline for Nyx’s development and testing?
**Interview with Hélène Huby, Founder and CEO of The Exploration Company**
**Editor:** Thank you for joining us today, Hélène. Congratulations on the recent $160 million funding success! Can you share what this investment means for The Exploration Company and the Nyx capsule?
**Hélène Huby:** Thank you for having me! This funding is a significant milestone for us. It not only fuels the continued development of Nyx but also demonstrates strong investor confidence in our vision to revolutionize space transportation. With this capital, we can accelerate our engineering efforts, ensuring that Nyx meets its ambitious goals of reusability and safety.
**Editor:** Nyx is designed to carry both passengers and cargo. Can you elaborate on the unique features of the capsule?
**Hélène Huby:** Absolutely! Nyx is specially engineered for versatility. It can transport a variety of payloads—whether that’s astronauts heading to the International Space Station or essential supplies for lunar missions. Its most innovative feature is its reusability: after a mission, Nyx is designed to re-enter Earth’s atmosphere safely, allowing us to refurbish and launch it again, which significantly lowers costs and increases efficiency.
**Editor:** You mentioned that the space market is growing at over 10% annually. What trends are you observing that support this growth?
**Hélène Huby:** We see a growing interest from governments and private sectors in space exploration. Many nations are investing in their space programs, not just for scientific research, but also for commercial opportunities. The ambition to return to the Moon and eventually reach Mars is driving a lot of this investment, and we’re excited to play a pivotal role in supporting these missions.
**Editor:** With backing from key investors like Balderton Capital and the French government, how does this change the landscape for TEC?
**Hélène Huby:** This level of support validates our business model and shows that investors believe in our mission. It opens doors for future collaborations and partnerships that can help us expand our capabilities, both in technology and in accessing new markets. It’s a transformative time for TEC and the larger space exploration industry.
**Editor:** what’s next for The Exploration Company and the Nyx capsule?
**Hélène Huby:** We’re moving into the testing phase very soon. Our focus is on fine-tuning Nyx, ensuring it performs optimally in various conditions. We aim to conduct our first uncrewed missions in the near future, with crewed missions to follow shortly after. The future looks bright, and we’re determined to make space more accessible for everyone.
**Editor:** Thank you, Hélène, for sharing your insights. We look forward to following TEC’s progress with Nyx.
**Hélène Huby:** Thank you! It’s an exciting journey ahead.