Toyoda Gosei Invests in Letara Ltd., a Startup Developing Engines for Artificial Satellites
July 25 2024 - 11:00PM
Business Wire
Toyoda Gosei Co., Ltd. (TOKYO:7282) has invested1 in Letara
Ltd., a startup out of Hokkaido University that develops engines
for artificial satellites.
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Propulsion engine and fuel for satellites
developed by Letara Ltd. (Graphic: 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.
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,
2 Kita 21 Jo Nishi 12 Chome Kita-ku, Sapporo, Hokkaido, Japan
Co-CEOs
Shota HIRAI, Landon KAMPS
Established
June 2020
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Toyoda Gosei Co., Ltd. Contact: Public Relations
inquiry@mlist.toyoda-gosei.co.jp