TerraSpark Secures €5M for Space-Based Solar Power Initiative
TerraSpark has raised over €5 million in pre-seed funding to develop a modular approach for space-based solar power, starting with terrestrial applications. The initiative addresses energy resilience in Europe amid increasing demand and infrastructure challenges.
Luxembourg-based startup TerraSpark has successfully raised over €5 million in a pre-seed funding round led by Daphni and other investors. The company aims to advance space-based solar power (SBSP) technology through a phased approach, beginning with commercial radio-frequency wireless power transmission systems on Earth before deploying orbital solutions.
AI-curated by TheiaTerraSpark plans to validate its technology on the ground in 2026, followed by a satellite prototype launch in 2027, and aims to achieve the first space-to-Earth power transmission by 2028. The planned full-scale deployment is targeted for 2030 and beyond. The rising demand for electricity, particularly driven by AI and data centers, underscores the urgency of developing reliable energy sources, positioning TerraSpark's technology as a potential solution to Europe’s energy challenges.
Comments