South Australian space company Inovor Technologies has been awarded an AUD2 million grant from the South Australian Government’s Economic Recovery Fund (ERF).
The grant will fast-track Inovor’s advanced manufacturing capabilities, supporting the company to develop the infrastructure needed to expand from building cubesats to larger ESPA-class satellites opening up new opportunities in the global space market.
It will generate local job opportunities, eventually creating up to 70 new jobs in future phases, along with upskilling Inovor’s current engineering workforce to build the skills and knowledge needed.
The funding will also support Inovor to demonstrate its leading Australis Bus small satellite technology in a maritime surveillance application for the first time, showcasing this local capability on the global stage.
The 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.
“We are immensely grateful to be one of the successful projects for this grant from the ERF,” said Inovor Founder & CEO Matt Tetlow. “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.”
By advancing to manufacture ESPA class satellites, Inovor Technologies will offer improved capabilities and services, catering to a broader range of missions and applications. This strategic move will position Inovor Technologies at the forefront of the space industry, expanding its market reach and fostering innovation in satellite technology.
Importantly, this grant leverages Inovor’ s close partnership with Japanese prime IHI Corporation to provide space infrastructure and enhance the safety and security of maritime operations and surveillance on a global scale.
“Working with Inovor Technologies represents a very important international collaboration opportunity for the IHI Corporation,” said Yoshifumi Asakura, GM at IHI’s Space Systems Business Development Office. “This partnership allows us to combine our expertise and resources to drive innovation and create advanced space solutions. We look forward to a successful collaboration that will significantly contribute to the global space and defence industry.”
