Clyde Space has secured a funding package worth £1m, including significant equity investment, to support the company’s growth in the global space market.
The company supplies power subsystems — including lithium-polymer batteries and high-efficiency solar panels — for small satellite missions, and is also engaged in the design and build of attitude controls and determination systems. Customers include the European Space Agency, NASA and the US Air Force.
Based in Glasgow, the company currently enjoys between 30–40 per cent of the global market share for Cubesats, which are small satellites with a mass of around 4kg and dimensions of 100 x 100 x 340mm.
Clyde Space said it is expanding its Cubesat capabilities with Ukube1, a 5kg satellite being developed and built in Glasgow by Clyde Space for the UK Space Agency and due for launch in late 2011.
The funding, led by Nevis Capital, will support Clyde Space to expand its product range and capability offering, and increase its global market share.