For Space Factory, €2 mln for development of Irenesat-Orbital mini-satellite

Intesa Sanpaolo has granted a €2 million loan to the Campania-based startup Space Factory, to support R&D activities to complete and develop the Irenesat-Orbital mini-satellite.

Space Factory's goal is to achieve certification for Irenesat-Orbital's TRL 9 flight, necessary for its industrialisation and in-orbit activation of services for scientific experiments.

Financing was provided through the NOVA+ line, an innovative and unique instrument in the banking industry, dedicated to intangible assets, i.e. disruptive ideas and projects in the space economy, in line with the objectives of the European Space Strategy and the Italian National Space Economy Plan.

Intesa Sanpaolo is supporting the Campania Aerospace Technological District, which provides significant added value to the regional economy, and with which it recently signed a two-year agreement to support the growth of companies in the sector.