Space firm Aurora Avionics in Taiwan agreement – Daily Business

Rowland Fraser and Oren Smith-Carpenter, co-founders Aurora Avionics

A Scottish space technology company has secured its first customer in the Asia-Pacific region after signing an agreement with the Taiwan Space Agency (TASA).

Edinburgh-based Aurora Avionics will supply avionics technology to support TASA’s ongoing sounding rocket development. Its modular systems will be part of a testing and evaluation phase.

It is hoped that a longer-term collaboration will develop between the two in a deal that helps confirm Scotland’s growing presence in the space sector.

Aurora Avionics develops advanced avionics systems, effectively the nervous system of a rocket, which act as the electronic control and communications backbone for spacecraft operating in extreme environments.

Its modular avionics systems are designed to help reduce cost and complexity for launch providers, supporting faster and more accessible routes to space across a range of mission types.

Myles Bax, commercial lead, said the agreement reflected increasing international interest in specialist Scottish space technology expertise.

“Signing our first Asia-Pacific customer is a major milestone for the business and an important moment for us as we continue to grow internationally,” he said.

“The work with TASA demonstrates there is strong global demand for reliable, adaptable avionics systems developed here in Scotland. We see significant opportunity across the Asia-Pacific region as we continue to scale the business.”

A scaled down model of Taiwan’s orbital rocket

He added: “Taiwan is making major long-term investments in strategic technologies and space capability, so it is an incredibly exciting market for us to enter. There is a strong alignment between the type of advanced engineering expertise being developed there and the specialist avionics systems we are building.”

The agreement with TASA comes at a time of significant investment in Taiwan’s space sector. TASA, which was formally restructured in 2023, is leading the country’s civilian satellite and launch vehicle development programme, with ambitions spanning low Earth orbit communications, remote sensing technologies and long-term autonomous launch capabilities.

Taiwan’s wider national strategy is focused on strengthening its global position across advanced technologies including semiconductors, information technology and precision manufacturing, with long-term investment in space infrastructure forming part of that ambition.

Industry analysts have identified the region as a growing opportunity for deep technology and aerospace businesses looking to expand internationally, and Aurora Avionics deep tech expertise and specialist avionics capability are well aligned with the needs of the rapidly growing market.

Oren Smith-Carpenter, co-founder of Aurora Avionics, said the partnership had been a key target for the company.

He said: “TASA has been an organisation we have wanted to work with for some time. Their team is highly respected internationally, and the projects they are developing are incredibly exciting.

“We have focused on building avionics systems that combine reliability, flexibility and performance in demanding operating environments. That approach is resonating with launch companies and space agencies internationally, and this agreement is an important next step for the business.”

The deal adds an Asia-Pacific dimension to Aurora Avionics’ customer base, which until now has primarily focused on Europe. Scotland’s space sector has increasingly been recognised as a leading European hub for satellite and launch technology, with Scottish companies now looking beyond Europe for future growth opportunities.

Since launching in 2023, Aurora Avionics has signed commercial deals with leading European launch vehicle and spacecraft developers including ATMOS Space Cargo and Pangea Propulson.

Seraphim record

The first quarter of the year saw another record for Seraphim Space Investment Trust, the world’s first listed SpaceTech investment company, chaired by Will Whitehorn.

The value of the portfolio increased 30.7% to £433.3 million in the three months to the end of March.

Mr Whitehorn, a space pioneer and Chancellor Edinburgh Napier University, said: “This has been another strong period for the company, with continued portfolio appreciation captured by a number of successful equity raises across the mature holdings and the successful sale of one company, underlining the quality of our assets and validating the investment manager’s disciplined investment strategy.

“The investment manager’s ability to select category‑leading SpaceTech businesses is increasingly translating into both operational progress and tangible value creation.

“The recent successful completion of our recent C Share issue further strengthens the company’s position to capture the next wave of opportunities across the space domain at one of the most exciting times for the sector.”

Mark Boggett, chief executive of Seraphim Space Manager, said: “Across the portfolio, there has been a breadth of positive momentum.

“Xona Space Systems closed one of the largest funding rounds in its category to accelerate production of its next-generation GPS constellation; SatVu has begun publishing imagery from the world’s highest-resolution thermal satellites; and Tomorrow.io secured a $175m financing led by HarbourVest to advance its AI-driven weather intelligence platform.

“Since the period end, value realisation has also gathered pace. The announcement of the conditional sale of ALL.SPACE at a valuation broadly in line with the 31 December results, alongside HawkEye 360’s $3bn NYSE IPO, underscore the growing maturity and commercial traction across the portfolio.

“Momentum continues to build, and we remain confident that NAV will continue to appreciate, supported by strong defence tailwinds and a structural shift in investor appetite, further catalysed by the anticipated SpaceX IPO, which could prove transformational, by being a catalyst for generating billions of new capital into the market. Against this backdrop, the SSIT portfolio remains uniquely well positioned.”

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