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Luxembourg, 1 December 2020. – Promoting innovation: Israeli startup NewRocket develops a new gel-powered space engine that is “powerful, controllable and environmentally friendly,” the company said.
The “revolutionary PowerGel propellant offers eco-friendly propulsion, without compromising high performance and full active thrust control,” says NewRocket. “(L) the propellant gel is safe and non-toxic, thus drastically reducing the costs of refueling, storage and ground service.”
The Tel Aviv-based firm that emerged from the startup incubator Incubit Ventures recently won its first contracts with major aerospace companies and secured $ 1 million in funding from the Consensus Business Group (CBG) based in the UK.
NewRocket was founded by Zohar Schlagman and Moti Elyashiv at Incubit Ventures, an incubator owned and supported by the aerospace group Elbit Systems and supported by the Israel Innovation Authority.
The technology used by NewRocket is based on the work of Benny Natan of the Faculty of Aerospace Engineering at the Technion Israel Institute of Technology and has been licensed to the company.
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