Intesa Sanpaolo has granted a loan of two million, through the NOVA + line, to the Campania-based company Space Factory, born as a start-up in 2015, for the completion and development of the Irenesat-Orbital mini satellite, and for services in orbit for scientific experiments. Space Factory with Ali, has, in collaboration with the Italian Aerospace Research Center (CIRA), developed the re-entry technological platform IRENE – Italian Re-Entry NacellE – a unique international solution to equip space systems, such as mini / microsatellites, with a ability to return autonomously from Space and their reuse.
On the basis of the business development plan, the Company is today engaged in the construction of the IRENESAT-ORBITAL mini-satellite. Thanks to the R&D initiative supported by Intesa Sanpaolo with NOVA + Space funding, Space Factory intends to achieve a TRL 9 flying certification for IRENESAT-ORBITAL, necessary for its industrialization and for the activation in orbit of services for scientific experiments
Nova + for research
In order to support investments in R&D, Intesa Sanpalo has developed an innovative financing instrument (Nova + Space & Security), able to finance intangible assets, i.e. disruptive ideas and projects in the Space Ecnomy, in line with the objectives of the European Space Strategy and the National Space Economy Plan, taking into account the specific characteristics of the sector, the development phase in which the company is located and the investment projects to be carried out.
Nargi (Intesa Sanpaolo): “Opportunity to relaunch”
“We are particularly proud to be able to contribute to such an important project for Campania, which in addition to the scientific value itself can also represent an opportunity to relaunch the economy and employment in our territory – says Giuseppe Nargi, Campania Regional Director , Calabria and Sicily of Intesa Sanpaolo – The Campania aerospace sector has always guaranteed a significant added value to the regional economy and in this regard I want to recall the agreement with the Aerospace District of Campania, recently signed: a tool that allows us to accelerate growth of the entire supply chain of the sector, starting from the processes of technological development and internationalization of the Space Economy companies through new financial instruments designed to respond effectively to their needs ».
Mustilli (the advisor): “It will involve young graduates”
“The Nova + loan granted by Intesa Sanpaolo to Space Factory – says Mario Mustilli, Space Factory advisor – is recognition of a path of high innovation that the company has undertaken in the space sector with the identification of services and products with high added value and strategic. This indicates how the productive economy of the area can benefit from large research projects, the consequent production of new jobs over time and the involvement of our best young graduates ».