Magdrive Secures $10.5M to Advance High-Power Electric Propulsion, Announce US Expansion

UK electric propulsion startup Magdrive has secured $10.5 million in seed funding, setting the stage for its expansion into the U.S. market and the development of its high-power electric plasma thrusters. The funding will support the construction of a manufacturing facility in the UK, the establishment of a Los Angeles-based subsidiary, and upcoming on-orbit propulsion tests.

With this new financial backing, Magdrive is accelerating its transition from a research and development (R&D) startup to a commercial manufacturing operation with a Magdrive Rogue thruster scheduled to launch on D-Orbit’s ION Satellite Carrier in June.

A New Class of Space Propulsion

Traditional satellite propulsion falls into two categories; Chemical propulsion which offers high thrust but low efficiency (specific impulse) and Electric propulsion which maximize efficiency but sacrifice thrust.

“We want to unlock entirely new capabilities.” - Mark Stokes, Magdrive CEO

Magdrive aims to bridge this gap with high-power electric plasma propulsion, achieving:

• High specific impulse, like ion thrusters, for fuel efficiency.

• A magnitude improvement in thrust, enabling rapid maneuvers.

• Reduced volume and mass, increasing satellite payload capacity.

The key to Magdrive’s performance is solid metal propellant, which allows satellites to execute high-cadence collision avoidance, sustain rendezvous and docking operations, and eventually support in-space manufacturing and asteroid mining.

The Magdrive Rogue Thruster

Magdrive’s first in-space test will take place in June 2025 aboard D-Orbit’s ION Satellite Carrier, marking a crucial milestone for the company.

The company’s Rogue thruster, designed to fit within a two-unit cubesat, will be deployed to validate its high-thrust electric propulsion system.

The Rogue thruster is designed for satellites ranging from 10 to 500 kilograms. Its integrated thruster head, propellant tanks, and power system allow for modular deployment, scaling from two-by-two arrays to larger grid formations for increased thrust.

Magdrive is already working on a more powerful model called the Warlock, which is expected to fly in 2026. A third system, Super Magdrive, designed for larger spacecraft, is also in development.

Enhanced Mobility in Orbit

For military and defense applications, Magdrive’s technology offers a unique tactical advantage. Satellites using its thrusters could engage in "stochastic movement," making their positions unpredictable and enhancing their survivability against potential threats.

Magdrive’s potential has already drawn the attention of the U.S. Space Force, which selected the company for its Hyperspace Challenge accelerator last year.

For commercial operators, the ability to maneuver frequently without depleting fuel rapidly could revolutionize in-space servicing, satellite inspections, and dynamic orbital adjustments.

“A lot of the future of the space industry is going to be based around being able to rendezvous satellites" - Mark Stokes, Magdrive CEO

U.S. Expansion and Scaling Up Production

Magdrive’s decision to open a Los Angeles-based subsidiary reflects its ambition to scale in the U.S. The American office will focus on business development and marketing, positioning Magdrive in the next generation of space propulsion systems.

By 2030, Magdrive aims to be producing hundreds of thrusters per month, fueling a growing demand for advanced orbital maneuvering technologies. Magdrive’s investors see its technology as a key enabler for the next wave of space commercialization, particularly in the post-SpaceX Starship era, where frequent, low-cost launches will drive demand for more agile and efficient spacecraft.

Future Vision: Refueling in Space and Propellant Recycling

Looking further ahead, Magdrive envisions a sustainable in-space economy, where spacecraft propulsion does not rely solely on Earth-launched fuel supplies. The company is exploring ways to refuel its thrusters using recycled space debris or asteroid-mined metals, reducing the reliance on traditional chemical or ion propellants.

“We can use the materials that are already in space to fuel the Magdrive, whereas other systems require fuel to be launched from Earth every single time,” - Mark Stokes, Magdrive CEO

This long-term vision aligns with growing industry efforts toward in-space resource utilization (ISRU) and the development of self-sustaining space infrastructure.

Since its founding in 2019, Magdrive has raised over $22 million, including $10 million in grants from the UK Space Agency, European Space Agency, and other government organizations. With this latest investment, the company is positioning itself to disrupt the satellite propulsion industry and enable a future where spacecraft can maneuver freely, refuel in orbit, and operate longer than ever before.