Propulsion developer Letara raises $16.4m for hybrid rocket engines

(SpaceEnergy) Japanese propulsion developer Letara has raised about ¥2.6bn ($16.4m) in a pre-Series A round to accelerate commercialisation of hybrid rocket engines using plastic-based fuel.

The Sapporo, Hokkaido-based company said Headline Asia, JIC Venture Growth Investments and Incubate Fund co-led the financing, with additional strategic investors including Frontier Innovations, Toyoda Gosei and Mitsubishi UFJ Capital.

Letara is developing hybrid engines that store solid fuel and oxidiser separately. Its technology uses readily available plastics as fuel, an approach the company says reduces explosive hazards, manufacturing complexity and cost while supporting mass production.

The company said its proprietary fuel design enables stable combustion and high thrust, while a patented ignition system allows repeatable ignition at low power. It has also miniaturised engines to palm-sized units suitable for smaller systems.

Letara said the propulsion technology is intended for applications ranging from launch vehicles to in-orbit propulsion. The company has already received orders from rocket and satellite companies and the Japanese government, and said the new funding will support further commercialisation and recruitment.

JAXA separately confirmed that its Frontier Innovations investment fund made an additional investment in Letara, which is registered as a JAXA Partner Startup.