The Exploration Company Wins €760 Million ESA Cargo Capsule Contract

The contract follows shortly after TEC closed a €387 million ($450 million) Series C funding round. The company said the round would support final development of its Nyx reusable capsule and accelerate work on Storm, a reusable high-thrust rocket engine.

According to ESA, the contract falls under Phase 2 of the programme now called ALADDIN (Autonomous LEO Accelerated Demo Docking to ISS Node), which succeeds the agency's Low Earth Orbit Cargo Return Service (LCRS) programme. ESA Member States endorsed the LCRS concept in 2022 as a competition inviting European industry to propose a first step toward a cargo service to and from low Earth orbit stations such as the ISS. ESA had previously selected two projects under the effort.

The Munich-based stellarator startup agreed deals with Fujikura and Kyoto Fusioneering during Chancellor Merz's visit to Japan, targeting superconducting tape, plasma heating and fuel cycle technologies.