A Bristol company developing a way for materials to be built in space in a bid to lower the impact of manufacturing on the earth's environment has secured a quarter of a million pounds in funding.
Space Forge is planning to use the money to expand into laboratories in Bristol and Wales, and recruit 10 members of staff in the next 12 months.
Founders Joshua Western and Andrew Bacon landed £150,000 after pitching to Bristol Private Equity Club - and now have 12 members investing in the futuristic project.
The deal has also unlocked a grant of £100,000 from Innovate 海角视频’s Regional Angel Investment Accelerator through Bristol-based business incubator SETSquared.
Space Forge is part of a clean industrial revolution that will enable different types of materials to be manufactured in space.
Alloys and crystals for use in computing and telecoms, pharmaceutical products and fibre-optics are among the first items to be manufactured in this way.
The micro-gravity in space makes crystals grow larger and alloys mix better, according to Space Forge chief executive Joshua.
"There is also free access to the natural high vacuum of space and very cold temperatures, both of which are important in manufacturing," he said.
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"Ultimately by leaving the gravity of earth, Space Forge will be able to make billions of new alloys and other materials that can achieve efficiencies that are not possible today.
"Despite the burden of accessing space, Space Forge is targeting applications which will prevent megatonnes of CO2 from ever reaching the atmosphere."
Space Forge currently has a link-up with a rocket company that would launch from New Zealand but eventually aims to launch manufacturing satellites from sites in the 海角视频 such as Cornwall.
The satellites would circle the earth for between two weeks and six months, depending on the process being undertaken, before returning to earth to be reused.
It would make them the first ever reusable satellites that do not need a space shuttle to catch and return them, according to Space Forge.
Jerry Barnes, founder of Bristol Private Equity Club, said: “This is exactly the type of innovative and entrepreneurial business that our members look for.
"We can see that it has the potential to be incredibly successful and change the world. There are only three businesses in the world working on this and for Bristol to be the base of the only one in Europe is very exciting."
Law firm Cook Corporate acted for BPEC in finalising the deal.