Breakthrough Energy Ventures, a cleantech fund founded by Microsoft co-founder Bill Gates, is leading a $65 million round of funding to support Stoke Space, based in Kent, Washington, to develop new, fully reusable rockets.
Carmichael Roberts, co-head of the Investment Committee at Breakthrough Energy Ventures, said there is no other way to better understand the Planet and its climate challenges than to observe the planet as a whole from space.
He added, "Imagine being able to detect wildfires in all countries in minutes, determine oil and gas methane emissions in real time to remedy them, or validate global carbon stocks for large-scale carbon offset markets." And these are just a few of the opportunities to expand access to space through advanced satellite technology. ”
In fact, the rocket industry is not an environmentally friendly industry, especially when toxic chemicals such as superoxides and perchlorates come into play and thousands of pieces of space junk are scattered in the sky.
In response, Andy Lapsa, co-founder and CEO of Stoke Space, said Stoke wants to change all that.
Figure | Andy Lapsa (Source: Stoke)
It is understood that Stoke's unique aircraft design and operational capabilities provide a path for ultra-low-cost, fast-turnaround launches that can be used for dedicated orbital delivery.
Rapsa said: "There have been many unsustainable rocket launch practices throughout history. I think, overall, we're getting smarter in this regard, and the reusable second phase is an important part of that. We cannot dump rockets into the ocean while starting hundreds or thousands of flights a year. ”
Currently, Stoke is developing a fully reusable second stage rocket that can return to Earth without relying on external forces.
The idea is similar to Elon Musk's plan for the SpaceX Starship Launch System, which is also designed for reusability. The difference is that Stoke is working on a smaller rocket that would be more suitable for small satellites that have revolutionized the space industry.
"Everything we do is focused on long-term sustainability and scalability," Rapsa said. ”
Stoke has a 21,000-square-foot engineering and manufacturing headquarters in Kent, England, England, and a rocket test facility near Moses Lake Airport.
What's more, the test facility is only a few hours' drive from the factory, so the hardware produced by Stoke can pass the test in a day.
In February, Stoke announced that the company had raised $9.1 million in seed funding, which increased research revenue from NASA and the National Science Foundation (United States).
Subsequently, the company completed a manufacturing demonstration of a second-stage full-size rocket engine and conducted full-power test ignition of components for the second-stage rocket engine, including a thrust chamber nicknamed "three-pack."
(Source: Stoke)
Lapsa said, "We have set a lot of specific goals for ourselves internally, and in fact we have finally achieved these goals. It was these performances that prompted Breakthrough Energy Ventures to lead an unusually large Series A funding round. ”
In addition, the round included several other new investors, including Spark Capital, Point72 Ventures, Toyota Ventures, Alameda Research and Global Founders Capital.
It is reported that Stoke's goal is to start the second phase of up-and-down flight tests by the end of 2022.
Rapsa said, "It was designed to return from orbit and land vertically at a precise position, which means it can also take off from a precise position, so we just fly it off the ground." ”
At present, Stoke has not announced where it will conduct flight tests, and once a choice is made, the Federal Aviation Administration will immediately give approval.
The Series A round is designed to get Stoke into the second phase of testing, but after that, the company will have to develop a booster for the first phase and seek access to the orbital launch infrastructure.
On the fuel side, Stoke plans to use methane in the first phase and liquid hydrogen in the second phase.
While methane isn't a carbon-neutral fuel, and it runs counter to Breakthrough Energy Ventures' zero-emission vision, Rapsa believes the use of other carbon-based rocket fuels like kerosene would make the situation worse.
He said the best thing you can do if you're using hydrocarbon fuel is to use the simplest hydrocarbons possible, such as methane.
Stoke currently has 29 employees, including engineers from aerospace companies such as Blue Origin, SpaceX and Spaceflight, and Lapsa is preparing to increase the number of employees.
Judging by Stoke's ambitions, the $65 million funding plan is unlikely to be the last time the company will turn to outside investors.
Lapsa said, "Things get more and more complicated over time, but that's a good start." ”
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reference:
https://www.geekwire.com/2021/breakthrough-energy-ventures-leads-65m-funding-round-for-stoke-spaces-reusable-rocket-stages/