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The new technology could dramatically improve satellite propulsion and be used to advance space travel
12 March 2021 • 12:01am
Magdrive, which is based in the Harwell Campus near Oxford, has been granted £64,200 to develop its tech as part of a funding round from the UK Space Agency.
The global space propulsion market is already worth around $5.8bn (£4.15bn) but has been tipped to grow to $19.3bn by 2027. Growth in the sector is likely to be driven by demand for lost-cost small satellites, which can be used for anything from communications to data gathering.
Magdrive, which was founded in 2019, has built a thruster for the satellites that will allow them to move in space and navigate space debris.