The Darwin Innovation Hub is very proud to announce a SGD$500,000 co-investment by the Paspalis Innovation Investment Fund based out of Darwin in the Northern Territory of Australia into Aliena, a space propulsion technology start-up from Nanyang Technological University, Singapore (NTU Singapore).
Darwin Innovation Hub and Fund CEO Harley Paroulakis states:
“Our investment in Aliena will assist the company launch a satellite into a low orbit and prove its plasma propulsion technology in a real space environment.”
“As the Northern Territory space ecosystem develops, it will become increasingly important for players in this hinterland to look toward places like Singapore as a source of technology, payload and even potentially launch vehicles. NTU Singapore has launched 9 satellites successfully into space, and is leading the space tech front in Singapore and the region. A majority of Singapore-based satellites were launched by NTU scientists.”
One of the proposed projects in the Northern Territory is the development of the Arnhem Space Port which NASA is currently considering as a potential site for launching sounding rockets into equatorial orbit for research and development activities.
This is the first investment facilitated between the Darwin Innovation Hub and Nanyang and Harley Paroulakis hopes it will not be the last.
“We see NTU Singapore as one of the technological leaders in this arena, and we would love to test bed in the Northern Territory in areas ranging from med tech, ag tech, artificial intelligence and advanced manufacturing in sectors ranging from mining, oil and gas to healthcare and agriculture. “
“Finally, it also goes without saying that this project provides our venture capital fund the privilege to co-invest with Cap Vista, the venture arm of the defence, science and technology agency and 500 start-ups a leading venture capital investor based in the United States in to Aliena, which we believe has a first class technology and massive future addressable market which we hope will provide our shareholders a stella return on investment.”
Find out more about Aliena