**Space Forge Secures Record £22.6 Million Investment, Bolstering Welsh Space Innovation**
In a significant milestone for Wales’ burgeoning hi-tech sector, Cardiff-based venture Space Forge has landed an impressive £22.6 million investment package. This funding round, led by a consortium of international investors, marks one of the most substantial investments in a Welsh start-up, as well as the largest Series A raise in the UK’s space technology industry to date.
Launched just a few years ago, Space Forge is at the forefront of an exciting new frontier: advanced material manufacturing in space. The company, headquartered in the Eastgate Business Park and boasting a workforce of 70, aims to revolutionise how performance materials – including compound semiconductors vital for electronics and quantum computing – are produced. By harnessing the microgravity, vacuum, and extreme temperature fluctuations available outside Earth’s atmosphere, Space Forge’s returnable satellite technology promises to manufacture materials impossible to create on Earth.
This recent cash boost is backed by a star-studded list of supporters. The NATO Innovation Fund spearheaded the investment round, with notable participation from the World Fund, the UK Government’s National Security Strategic Investment Fund (NSSIF), and a £2 million contribution from the British Business Bank under its regional angels programme. The Cardiff Capital Region’s £50 million Innovation Investment Capital fund has also lent its support, underscoring the importance of Space Forge to the regional economy.
Space Forge plans to channel this injection of funds into accelerating the development of its ForgeStar-2 satellite platform, which aims to deliver a reusable, scalable system for manufacturing in orbit. Meanwhile, plans are already underway for the inaugural ForgeStar-1 mission, scheduled to launch later this year from Florida. These missions represent a bold vision: using space as an innovative platform for earth-shaking advances in material science.
Experts believe that materials produced in space could have transformative impacts far beyond academia. Research indicates that space-manufactured materials could reduce carbon dioxide emissions by up to 75 percent and energy use by 60 percent in some critical infrastructure applications. Such environmental benefits present a compelling case for developing new space supply chains, especially as the world grapples with climate change and energy efficiency.
Joshua Western, Space Forge’s co-founder and CEO, described the milestone as a “significant leap, not only for our company but for the entire space sector.” He highlighted the potential of space manufacturing to spark real-world advances in security, sustainable energy, and breakthrough technologies, with upcoming launches set to show the world just how far Space Forge’s innovations could reach.
The investment has also been welcomed by local government leaders. Huw Thomas, Leader of Cardiff Council and Vice Chair of the Cardiff Capital Region, praised Space Forge’s trailblazing spirit, noting that the company’s achievements are attracting international attention to Wales as a global contender in the advanced tech sector.
National praise was echoed by Dr Paul Bate, Chief Executive of the UK Space Agency, who said the investment underlines confidence in the UK’s growing space economy. “This is a vote of confidence in the country’s prowess in space-enabled innovation,” Dr Bate remarked, adding that Space Forge’s developments will help champion both sustainable energy advancements and resilient supply chains.
The calibre of backers in this funding round, which also includes Gaingels, SpaceVC, and the London Technology Club, signals broad recognition of Space Forge’s pioneering approach. Chris O’Connor, partner at the NATO Innovation Fund, highlighted the strategic value of European space supply chain independence and resilience, stating that Space Forge’s innovations could play a key role for NATO nations.
As demand for high-performance computing and advanced semiconductors continues to soar, concerns about global supply vulnerabilities linger. Daria Saharova, General Partner at the World Fund, pointed out that most of Europe’s semiconductors are currently imported, exposing the continent to significant risks from geopolitical events. Space Forge’s emphasis on creating a sustainable, homegrown supply of next-generation materials aligns with Europe’s strategic priorities.
Finally, Minister for Industry Sarah Jones and senior British Business Bank figures have both applauded the vote of confidence this investment round represents for UK high-tech manufacturing. They see it as an exemplary success story emerging from Wales and a foundation for further growth and global partnerships in the years ahead.
With this substantial investment now secured, Space Forge is poised to advance its goal of making space-based manufacturing a practical reality, potentially positioning Wales and the UK at the heart of a new industrial revolution driven by innovation, sustainability, and technological excellence.