After Elon Musk launched the “race into space”, it seems that Porsche SE (officially Porsche Automobil Holding SE) wants to follow suit, having invested in the company Isar Aerospace Technologies.
Porsche SE is a holding company that owns a majority stake in Volkswagen AG (the Volkswagen Group), the owner of Porsche AG. This makes Porsche SE indirectly the owner of Porsche AG, the brand responsible for the 911, Taycan or Cayenne. Also subsidiaries of Porsche SE are Porsche Engineering and Porsche Design.
Given this explanation, it is time to talk about this holding's investment in the “race to space”. According to the statement released, the stake acquired is reduced (not reaching 10%) and is part of the investment strategy of the German holding.
What does Isar Aerospace Technologies do?
Based in Munich and founded in 2018, Isar Aerospace Technologies has been dedicated to the production of vehicles used for launching satellites. For the next year, Isar Aerospace Technologies is preparing the launch of its first rocket, called “Spectrum”.
It is precisely to produce this rocket that Isar Aerospace Technologies moved to another round of financing, having raised 180 million dollars (75 million of which invested by Porsche SE). The aim of the German company is to offer an economical and flexible transport option for satellites.
Regarding this investment, Lutz Meschke, responsible for investments at Porsche SE, said: “As investors with a focus on mobility and industrial technologies, we are convinced that cheap and flexible access to space will lead to innovations in many areas of the industry. With Isar Aerospace, we invest in a company that has the best prerequisites to establish itself as one of the leading European launch vehicle manufacturers. The company's rapid development is impressive.”