South Australian-based space company Inovor Technologies has secured $2 million in State Government funding, which will help expand its manufacturing capabilities, unlocking new opportunities in the global space market.
The grant, provided through the South Australian Government’s Economic Recovery Fund, will accelerate the development of infrastructure required by Inovor to grow from building CubeSats to larger ESPA class satellites.
The growth opportunities created are expected to generate up to 70 jobs once the new infrastructure is fully operational, and will upskill the company’s existing engineering workforce, according to Inovor Technologies CEO and Founder, Dr Matt Tetlow.
“We are immensely grateful to be one of the successful projects for this grant from ERF,” Dr Tetlow said.
“This investment will enable us to expand our space and defence capabilities and bring our innovative solutions to the forefront of the global market.
“It is a testament to the hard work and dedication of our team and the trust that the State Government has placed in us.”
Increasing the company’s capability to manufacture larger class satellites, will position Inovor to meet the growing demand for more complex satellite systems across a broader range of missions and applications and expand its market reach.
It will also enable Inovor to demonstrate its leading Australis Bus small satellite technology in a maritime surveillance application for the first time, while enhancing the security of maritime operations and surveillance on a global scale through its partnership with Japanese prime IHI Corporation
Chief Executive of the South Australian Space Industry Centre, Matt Opie, said the funding adds important capability to the local space sector.
“The expansion of Inovor Technologies’ advanced manufacturing capabilities is an exciting leap for the Australian space sector,” Mr Opie said.
“It will not only elevate the nation’s sovereign expertise in large satellite manufacturing but also unlock new opportunities for Inovor to compete on the global stage.”
South Australian Government’s ERF aims to assist business and industry in key areas to grow job opportunities, improve productivity, increase exports and support innovative, value adding technologies in South Australia.
