ClearSpace

ClearSpace, is a Switzerland-based startup and a spin-off from the Swiss Federal Institute of Technology Lausanne (EPFL), specializing in aerospace component manufacturing and on-orbit service. The company’s main focus is to clear space debris from orbit and bring it to the atmosphere, where it will burn up. In 2020, the company signed its first contract with the European Space Agency (ESA) worth EUR 86.2 million (~USD 91.1 million) for the removal of space debris from orbit under the mission titled ClearSpace-1, which was set to be operational by 2026. Under this mission, which is also a part of ESA’s Adrios program, the company would manufacture a spacecraft with robot-like arms to retrieve part of a European Vega rocket as well as develop in-orbit services for satellites such as refueling, repairs, and orbital maneuvers. In February 2023 , the company and its industrial partners passed their first major program review with the ESA for this mission along with the confirmation of full funding for the next phase.

Marking the company’s first expansion outside of Europe, ClearSpace formed its US subsidiary ClearSpace Today Inc in April 2023 , offering expanded capabilities to both public and private sectors in the US. Provided with the support of US partners, offerings include in-space transportation, inspection, assembly, manufacturing, repair, and recycling services.

Key customers and partnerships

In January 2022, Swiss watchmaker Omega announced it was joining ClearSpace as a partner for their first debris removal mission. In May 2022, the company joined Net Zero Space initiative to support its efforts in removal of space debris and achieving use of outer space for humans by 2030. The company was also admitted to Microsoft’s Global Social Entrepreneurship program in June 2020 to provide support and resources on a global scale for ClearSpace missions. In May 2023, the company signed a launch contract agreement with Arianespace to launch ClearSpace-1 mission aboard the European light launcher, Vega C.

Funding and financials

In its latest funding round in January 2023, the company raised EUR 26.7 million (~USD 29 million) in a Series A funding round co-led by OTB Ventures (backed by European Investment Fund under InvestEU program) and Swisscom Ventures along with the participation of Luxembourg Future Fund and others. The funds were to be used for accelerating the company’s orbital debris removal activities ahead of its ClearSpace-1 mission. Further, as a part of this financing the company would also establish an operational presence in Luxembourg.