Sweden: Pioneer ECAPS gets EIB financing to develop cutting-edge technologies for space and defence
The European Investment Bank (EIB) is lending Swedish aerospace company ECAPS AB €20 million to accelerate the development of high-performance rocket engines and propulsion capabilities. The financing will also support advances in dual-use technologies, which can be deployed for both civilian and defence purposes.
The support by the EIB is through its TechEU initiative and takes the form of venture debt, a type of loan designed for high-growth startups and scaleups that provides additional capital without diluting ownership. The goal is to bolster production of cutting-edge space technologies within the European Union and to enhance EU security.
The financing will contribute to ECAPS’s €47 million plan to scale its proprietary propellant and rocket engines, which are more efficient and cost-effective than traditional technologies. They also offer higher performance and safer handling compared to traditional hazardous solutions.
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Originally published on 10 Dec
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