Mitsubishi Electric Corporation has invested in Zenno Astronautics Ltd., a New Zealand-based startup that develops superconducting technology for space applications. The investment is the ninth made by Mitsubishi Electric’s ME Innovation Fund. Zenno Astronautics has developed an innovative satellite attitude control component that uses superconducting technology to efficiently generate a magnetic field with small energy loss. The component is smaller and more efficient than conventional components, making it ideal for use in satellites. Mitsubishi Electric aims to boost Zenno Astronautics’ competitiveness in the space business by studying and evaluating the technology. The investment round also included participation from Global Brain, ANA HOLDINGS, and other investors. Global Brain, a Japanese venture capital firm, joined the round and will support Zenno’s global growth, including its expansion into the Japanese market. The investment demonstrates strong international confidence in Zenno’s superconducting technology for space applications.
Tech conglomerate Mitsubishi Electric’s innovation fund, together with its AI-powered innovation hub Global Brain and airline giant ANA Holdings, jointly invests in Zenno Astronautics Limited, a significant development in the field of space technology.
by newsworm | Dec 1, 2024 | Automobile, Mitsubishi