Toyoda Gosei Invests in Letara Ltd., a Startup Developing Engines for Artificial Satellites
KIYOSU, Japan–(BUSINESS WIRE)–
The engines being developed by Letara will enable satellites to move to a desired orbit after launch. With fuel technology using plastics and oxidizers, these engines provide both safety and propulsion, which are difficult to enhance at the same time in space.2 This helps to avoid collisions with other satellites and the creation of space debris, which have become problems in outer space, while also aiming to achieve safe and free movement in the future when space stations will be built on the moon and other celestial bodies.
As the automobile industry goes through profound changes beyond traditional industrial boundaries, Toyoda Gosei is exploring new fields that are not tied to the company’s existing business with the aim of sustainable growth. The space-related business being advanced by Letara is expected to grow in the coming years, and Toyoda Gosei, always on the lookout for fields where the company’s technology can be leveraged, has invested in Letara to enhance knowledge in this field.
| 1 | Investment made in June 2024, through Toyoda Gosei’s Corporate Venture Capital Dept., an internal organization dedicated to these investments. | ||
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| 2 | The types of fuel that can be used in the harsh environment of space are limited. |
| Outline of Letara | ||||
| Name |
| Letara Ltd. | ||
| Address |
| Hokudai Business Spring room 307, | ||
| Co-CEOs |
| Shota HIRAI, Landon KAMPS | ||
| Established |
| June 2020 | ||
Contacts
Toyoda Gosei Co., Ltd.
Contact: Public Relations
[email protected]
