ANA Holdings has injected JPY200 million yen (USD1.8 million) into PD Aerospace, a commercial space flight start-up, adding to its earlier investment in the project amounting to JPY20.4 million.
"ANA is excited about the future of transportation and how PD Aerospace's space technology will play an integral role. We are increasing our support to help expedite the project's timeline of testing and launching an unmanned spacecraft to an altitude of 100km," Vice-President (ANA Digital Design Lab) Yoshiaki Tsuda has said in a press statement.
PD Aerospace is working on a craft capable of flight both in the atmosphere and in the space thanks to an innovative hybrid propulsion system which incorporates both jet and rocket engines.
During the earlier round of financing, back in 2016, ANA Holdings has partnered with travel firm H.I.S. During the current round, besides ANA and H.I.S, capital funds Mizuho Capital and Optima Ventures have also invested in PD Aerospace.
ANA Holdings has also relocated one of its own mechanics to work with PD Aerospace. With the new funding, the start-up plans to relocate to a new base in Hekinan, where it will use a significantly larger hangar. PD Aerospace plans to launch the first unmanned prototype craft to an altitude of 100 kilometres in 2019.
