Fueling Up in the Final Frontier: How Orbit Fab’s Gas Stations in Space™ Are Changing the Refueling Game
By Timur Davis and Peter Ortez
Imagine that you buy a new car. You drive it off the lot with a full tank of gas and then a week later when your gas tank is empty, you have to abandon your car on the side of the road — it has reached the end of its shelf life. As crazy as this circumstance sounds, it is exactly how today’s spacecraft are currently operating in space.
We at Munich Re Ventures have spent a lot of time thinking through the challenges and opportunities of what we’ve termed the “in space economy.” One of the key areas of focus for us has been building out the infrastructure of space, and central to that effort lies refueling.
The ability to refuel a spacecraft unlocks many possibilities: it changes the cost equation for space missions by extending a spacecraft’s usable life and potentially lowering launch costs, and it serves as a de-risking element by offering flexibility and optionality for satellite operators.
For these reasons (and more), we are thrilled to have participated in Orbit Fab’s recent series A round, after having also led their seed round in 2020. Beyond simply having conviction around the critical importance of refueling in space, we are impressed with the approach that Orbit Fab, specifically, is taking.
The company is building both “gas stations” and fueling ports — essentially solving both parts of the refueling infrastructure equation. The Orbit Fab fueling port is a “drop in” component that can be installed on pre-existing spacecraft, allowing for more optionality and “future-proofing” of spacecraft as they are built.
In our years of involvement with the company, we’ve been pleased with the progress Orbit Fab has made with both commercial and government customers. In short order, the company signed a commercial agreement to refuel Astroscale’s Life Extension In-Orbit (LEXI™) Servicer in geostationary orbit, agreed to support the United Kingdom Space Agency’s ClearSpace mission to clean up the congested space environment, and won a contract to provide fuel to US Space Force satellites. We’re seeing real commitments from both the commercial and governmental worlds around the need for space refueling and Orbit Fab is well-positioned to capitalize on this.
The CEO, Daniel Faber, is a repeat entrepreneur who knows what it takes to build a successful SpaceTech startup, having built Deep Space Industries which was acquired by Bradford Space. Orbit Fab has also brought together a stellar group of highly knowledgeable and relevant investors, including Lockheed Martin, Northrup Grumman, and 8090 Industries.
It is clear as day that refueling in space is necessary to make the space ecosystem more accessible, open, and efficient. And we believe Orbit Fab is just the company to bring this from concept to reality.
—
Munich Re Ventures (MRV) is the venture capital arm of Munich Re Group, one of the world’s leading providers of reinsurance, primary insurance, and insurance-related risk solutions. With more than $1 billion in assets under management, Munich Re Ventures invests in the most innovative start-ups transforming the future of risk and risk transfer. MRV’s experienced investors are financially-driven while focused on the strategic interests of Munich Re and the broader insurance industry. MRV works closely with Munich Re Group businesses across the globe to fund and partner with the best emerging companies developing new technologies and business models — and risks — for tomorrow’s world.
