The Exploration Company wins €760 million contract for European ISS cargo capsule
The Exploration Company secured a €760 million service contract with the European Space Agency to build and launch Europe's first commercial cargo capsule at the International Space Station. The deal includes an initial mission valued at €310 million and up to €450 million for two future optional service missions.
The Exploration Company (TEC) was awarded a comprehensive contract by the European Space Agency (ESA) to develop and operate Europe's first commercial cargo capsule for the International Space Station. Signed during the International Space Summit in Paris, the agreement covers €760 million total. This includes €310 million for an initial demonstration mission and up to €450 million for two subsequent optional service missions, subject to future confirmation. Josef Aschbacher, ESA Director General, stated that the deal demonstrates the agency's ability to strengthen the commercial space sector through its anchor customer role.
The contract operates under Phase 2 of ALADDIN (Autonomous LEO Accelerated Demo Docking to ISS Node), which replaces the former Low Earth Orbit Cargo Return Service program. The project builds on a 2022 competition concept endorsed by ESA Member States, where TEC won against other proposals for cargo transport in low Earth orbit.
Following this announcement, The Exploration Company announced it raised €387 million in a Series C funding round. The company intends to use these funds to complete development of its Nyx reusable capsule and advance work on the Storm reusable high-thrust rocket engine. The initial mission phase is scheduled for the coming years.
