TerraSpark Secures €5 Million for Space-Based Solar Power Development
TerraSpark has closed a pre-seed financing round of over €5 million to advance space-based solar energy projects. This funding comes as Europe faces escalating energy demands and infrastructure challenges, highlighting the need for innovative solutions in the energy sector.
TerraSpark has secured more than €5 million in pre-seed funding from investors including Daphni and the Hans(wo)men Group. The financing will support the development of space-based solar power technology and initial pilot projects, addressing critical issues in Europe's energy infrastructure, such as rising electricity demand and grid vulnerabilities.
AI-curated by TheiaThe company is focusing on commercializing radio frequency-based wireless energy transmission on Earth to validate safety and efficiency before transitioning to orbital systems. TerraSpark plans to prepare pilot applications and demonstration cases in the coming months, with an orbital technology demonstrator scheduled for 2027 and space-to-Earth power transmission expected by 2028. Successful implementation could revolutionize energy sourcing and distribution globally.
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