Technology pioneer, Frontier Space, recently obtained a loan to enhance cashflow while undertaking a high-profile project.
The trailblazing company has made a name for itself in the fields of in-space biotechnology and commercial microgravity research, and has secured £75,000 worth of funding to help it keep pace with the design and delivery of its cutting-edge autonomous lab platform.
Frontier Space began as the shared vision of four researchers at Cranfield University in Bedfordshire. The team’s aim was to break beyond the accepted barriers of performing science in space. Together, they put in the groundwork for “SpaceLab”, an autonomous “lab in a box” designed for carrying out scientific experiments in microgravity conditions.
The recent loan provided working capital that helped the company bridge its quarterly grant payments, enabling it to concentrate on mission development and project delivery.
Commenting on the financial support, CEO at Frontier Space, Aqeel Shamsul, said:
“We were able to maintain momentum and prove that high quality science in space doesn’t need to be cost prohibitive.”
From civil engineering finance to business loans, companies involved in long-term projects can access a range of resources that help them manage cashflow, allowing them peace of mind to focus on meeting completion dates.
Frontier Space’s ground-breaking technology has been successfully orbit tested on the ATMOS Space Cargo Phoenix-1 capsule. The Innovate UK project will culminate with the launch of the tech firm’s “SpaceLab Mark 1” demonstrator, which will be onboard an upcoming SpaceX Bandwagon 3 mission.
