T-Minus Space Daily: Space Forge’s Record-Breaking Series A
Hosted by N2K Networks
Release Date: May 14, 2025

Introduction

In this episode of T-Minus Space Daily, hosted by Maria Varmazas, N2K Networks delves into significant developments within the global space industry. The focal point of today's discussion is Space Forge’s milestone achievement in securing a record-breaking Series A funding round. Additionally, the episode covers various other pivotal news stories, including contracts, technological advancements, and upcoming launches that are shaping the future of space exploration and technology.

Space Forge Secures $29.8 Million in Series A Funding

At the heart of today's briefing is the impressive achievement by Space Forge, a British-Israeli company specializing in in-space manufacturing. On May 14, 2025, Space Forge announced the close of a £22.6 million (approximately $29.8 million USD) Series A funding round, led by the NATO Innovation Fund. This infusion of capital marks the largest Series A investment ever secured by a UK-based space technology company.

Joshua Western, CEO and co-founder of Space Forge, emphasized the company's mission in a press release:

“[00:50] '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 funds raised will propel the development of Forgestar 2, Space Forge's next-generation returnable manufacturing satellite. Additionally, the investment will support the company's inaugural in-orbit demonstration mission, Forgestar 1, slated for launch in the summer of 2025.

During the Space Symposium held last month, Joshua Western elaborated on Space Forge’s terrestrial operations:

“[04:04] 'What we've been doing at Space Forge is we really focused in on the materials manufacturing. So one of the things I'm really pleased to update your listeners on is we now have a pilot line semiconductor capability in the UK, so we are already producing semiconductors for customers right here on Earth. What's really important is the people that we're working with today are buying them because they want to work with the ones that we bring back from space and that's really critical for us.'”

This dual focus on Earth-based and space-based manufacturing not only diversifies Space Forge’s portfolio but also ensures a steady revenue stream to fund further space missions.

Industry Highlights

Beyond Space Forge’s noteworthy funding, several other significant events were highlighted in today's episode:

ISI’s €200 Million Contract with the Polish Armed Forces

ISI, a leader in synthetic aperture radar (SAR) technology, has entered into a €200 million agreement with the Polish Ministry of National Defense. Under this contract, ISI will deliver an initial batch of three ISAR satellites, with options to procure three additional satellites and enhanced ground segment capabilities within the next year. This partnership will bolster Poland's intelligence, surveillance, and reconnaissance (ISR) capabilities, providing near-real-time data analysis and tasking.

Ramonespace Collaborates with Eutelsat for OneWeb Expansion

Ramonespace has been selected by Eutelsat to supply onboard digital communication channelizers for the expansion of its OneWeb constellation. Initially, Ramonespace will provide 70 flight sets of its digital systems, upgrading the existing analog channelizers. These upgrades are anticipated to be integrated into satellites launching from the end of 2026, with provisions for additional systems to be added as needed.

BlackSky’s Gen3 Early Access Agreements

BlackSky has announced early access agreements for its Gen3 constellation with multiple international defense sector customers. This partnership allows these entities to incorporate high-resolution 35-centimeter imagery into their daily intelligence operations. As BlackSky scales its Gen3 capacity, these initial contracts are expected to expand in both size and volume, offering a broader range of mission solutions.

Varda Space’s Successful Return of the W3 Capsule

In a remarkable achievement, Varda Space Industries successfully returned its W3 capsule to Earth, landing at the Kunuba Test Range in South Australia. The W3 mission, launched just 15 days after the second mission's re-entry on February 27, carried an advanced navigation payload known as an Inertial Measurement Unit (IMU). Developed in collaboration with the US Air Force and Innovative Scientific Solutions Incorporated, the IMU was tested under extreme re-entry conditions, demonstrating its resilience and reliability. The W3 spacecraft was supported by Rocket Lab's Pioneer satellite and has been successfully recovered, marking another step forward in Varda Space’s ambitious projects.

Upcoming Australian Space Activities

Alice Carruth, N2K's Senior Producer, provided insights into upcoming space activities originating from Australia:

Launch of ERIS Spacecraft

Gilmour Space is poised to launch their ERIS spacecraft from Australia, marking the first orbital launch from the continent in nearly half a century. The launch window opens on May 15, 2025, between 7:30 AM and 5:30 PM local time, weather permitting. This historic event underscores Australia's growing role in the global space sector.

Satellite Connectivity Tests by Intelsat and Qubic

Intelsat and Qubic are conducting pivotal satellite connectivity tests that may revolutionize future satellite communications. These tests aim to enhance connectivity capabilities, potentially leading to more robust and efficient communication networks in space.

Space Nukes and Nuclear Electric Propulsion

A significant portion of today’s episode was dedicated to the innovative intersection of nuclear technology and space propulsion:

The U.S. Space Force is spearheading a new initiative titled Space Power and Propulsion for Agility, Responsiveness, and Resilience (SPAR Institute). Partnering with Space Nuclear Power Corporation, also known as Space Nukes, the initiative aims to develop a second-generation fission reactor for spacecraft. This reactor will be integrated with Electric Propulsion (EP) systems, resulting in a Nuclear Electric Propulsion (NEP) setup.

Maria Varmazas elaborated on the benefits and technical specifics:

“[10:35] 'This kind of setup is far more efficient than chemical rockets, as estimates say that it is up to 25 times more efficient. So that would make an NEP ideal propulsion both for deep space missions and for dodging threats in orbit without worrying about fuel limits.'”

Space Nukes brings substantial expertise to the table, being the only U.S. company in the past fifty years to design, build, and test a new reactor concept, evidenced by their Kilopower demonstration in 2018. The current collaboration with the University of Michigan focuses on increasing reactor and radiator temperatures, which facilitates the creation of lighter and more compact propulsion systems. This advancement translates to more agile spacecraft capable of rapid maneuvers—aptly adhering to the initiative’s motto, "Maneuver Without Regret."

Conclusion

Today's episode of T-Minus Space Daily highlights a dynamic period of growth and innovation within the space industry. From Space Forge’s groundbreaking Series A funding to advancements in nuclear propulsion technology, the space sector continues to push the boundaries of what is possible. These developments not only signify technological progress but also underscore the increasing strategic importance of space in global defense and commercial endeavors.

For more detailed information on today's stories, listeners are encouraged to visit the N2K Networks website at space.n2k.com and explore the show notes for additional resources and original sources.

Notable Quotes:

• Joshua Western, CEO of Space Forge:
  “[00:50] 'We're accelerating our mission to make space a practical and accessible platform for industrial scale manufacturing...'”

• Joshua Western on Semiconductor Production:
  “[04:04] 'What's really important is the people that we're working with today are buying them because they want to work with the ones that we bring back from space...'”

• Maria Varmazas on Nuclear Electric Propulsion:
  “[10:35] 'This kind of setup is far more efficient than chemical rockets, as estimates say that it is up to 25 times more efficient...'”

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Produced by Liz Stokes, mixed by Elliot Peltzman and Trey Hester, with original music by Elliot Peltzman. Executive Producer: Jennifer Ibin. Published by Peter Kilpe.