Arkadia Space Secures €14.5 Million from European Innovation Council for Green Propulsion Development
Arkadia Space, based in Castellón, Spain, has secured €14.5 million from the European Innovation Council to advance its green propulsion technology. The funding follows a competitive selection process where only 61 of 923 applicants were chosen. The investment includes €2.5 million in grants, €6 million in equity investment, and €6 million in private investment. Arkadia plans to enhance its test facilities at Castellón Airport, positioning itself as a leading provider of green propulsion solutions in Europe.
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Arkadia Space has received €14.5 million from the European Innovation Council under the EIC Accelerator program, becoming the first Spanish space company to access this funding. The financial package includes €2.5 million in grants, €6 million in equity, and €6 million in private investment.
This funding will support the development of green rocket fuel for satellites. Arkadia will also expand its testing facilities at Castellón Airport, enhancing its capabilities in green propulsion. The company aims to commercialize its advanced hydrogen peroxide-based propulsion technology next year, following successful orbital validation of its DARK system in 2025.
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