ESA signs €760 million contract to build Europe's first commercial cargo capsule for the ISS
The European Space Agency awarded The Exploration Company a major deal to construct and launch a reusable cargo shuttle. This agreement includes an initial mission worth €310 million and two optional follow-up missions totaling up to €450 million.
The European Space Agency signed a service contract with The Exploration Company on Tuesday, granting the firm a total value of €760 million. Under this deal, which was finalized at the International Space Summit in Paris, The Exploration Company will build and fly Europe's first commercial cargo capsule to the International Space Station. Josefa Aschbacher, ESA Director General, stated that the agreement aims to strengthen the commercial space sector while turning ambition into reality. The contract consists of an initial demonstration mission valued at €310 million, with up to €450 million reserved for two further optional service missions that remain subject to future confirmation. This project is part of Phase 2 of the ALADDIN program, a successor to the Low Earth Orbit Cargo Return Service initiative endorsed by ESA Member States in 2022. The signing comes shortly after The Exploration Company closed a Series C funding round totaling €387 million, capital that it intends to use for final capsule development and progress on a reusable high-thrust rocket engine.
