Arkadia Space Raises €14.5M To Develop Green Space Propulsion Systems

The package includes a €2.5 million grant, €6 million in equity from the EIC Fund, and €6 million in private investment. Arkadia Space says it is the first Spanish space company to receive backing through this instrument.

The company also noted that only 61 startups were selected from 923 applications across Europe, highlighting the competitiveness of the programme.

Arkadia Space founded in 2020 by Francho García, Francisco Espinosa, Ismael Gutiérrez, and Sergio Soler, is developing a new green propulsion technology for space missions. The team previously worked together at PLD Space.

The company is building a hypergolic bipropellant system based on high-concentration hydrogen peroxide and a proprietary green fuel, designed to replace highly toxic hydrazine-based propellants such as MON/MMH, which are increasingly restricted under European regulations.

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Its technology enables instant ignition when propellants meet, removing the need for complex ignition systems. This improves reliability and allows precise manoeuvres such as spacecraft docking and lunar landings, while also reducing operational and refuelling costs by more than 60%.

Arkadia Space says its approach improves safety, sustainability, and efficiency in space propulsion. The company also claims it is currently the only firm globally developing advanced hydrogen-peroxide-based hypergolic systems, and with support from the European Innovation Council, it aims to become the first to commercialise the technology.

Arkadia Space has received a major boost following the in-orbit validation of its DARK propulsion system launched in March 2025 aboard an Italian D-Orbit satellite during a SpaceX mission. This marked the first time in Europe that a hydrogen-peroxide-based propulsion system has been tested in space.

The company is also expanding its test centre at Castellón Airport, building one of Europe’s most advanced private propulsion testing facilities and helping to significantly shorten development timelines.

Arkadia Space has secured several commercial contracts that will be announced in the coming months, including its first agreement last year with MaiaSpace.

In 2023, the startup closed an oversubscribed €2.8 million seed round led by Draper B1, part of the Draper Venture Network.

“EIC support comes at a critical moment for Arkadia. Over the past year, we have demonstrated that our technology meets market requirements and offers a true performance alternative to highly toxic fuels. This recognition confirms that we are on the right path and gives us a tremendous boost to commercialise the technology as early as next year,” said Francho García, co-founder and CEO of Arkadia Space.