by ALAN ROSENBAUM
JUNE 8, 2022
It is the stuff of science fiction, but it is based on solid scientific fact. NewRocket, a small, Netanya-based startup, has developed a revolutionary, gel-based fuel for spacecraft that will revolutionize the propulsion industry for the ‘New Space’ missions of tomorrow.
Unlike the highly toxic and hazardous fuel used to power today’s spacecraft, NewRocket’s PowerGel fuel is safe and non-toxic. Yossi Weiss, NewRocket Chairman, and former CEO of Israel Aerospace Industries, explains that the technology was developed and pioneered by Prof. Benny Natan of the Faculty of Aerospace Engineering at the Technion–Israel Institute of Technology in Haifa.
The technology was integrated into Incubit Ventures, a technology incubator owned by Elbit Systems Ltd, and in 2018, the proof of concept of the product was established, which showed that spacecraft and satellite engines powered by gel-based fuel could be developed. Two and a half million dollars were raised in a Round A funding round in 2020. The company’s primary investor is CBG Group, which is led by the British businessman Vincent Tchenguiz.
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