Strategic investors fuel Europe’s space-based solar ambitions
The global race to secure clean, uninterrupted energy sources is intensifying, and a growing number of investors are turning their attention to one of the most ambitious frontiers in renewable technology: space-based solar power. Long confined to the realm of theoretical physics and government-funded research programmes, the concept of capturing solar energy in orbit and transmitting it wirelessly to Earth is now attracting serious venture capital — a signal that the technology may be closer to commercial viability than many assumed.
Luxembourg-based startup TerraSpark has raised over €5 million in a pre-seed round to advance its space-based solar power technology, marking one of the earliest significant private investments in the sector. The round was led by Paris-based venture capital firm Daphni, with participation from Sake Bosch, better ventures, Hans(wo)men Group, the Luxembourg Business Angel Network, and Karaoke Club.
From ESA research to commercial venture
Founded in 2025, TerraSpark brings together a team with deep roots in European space research. Co-founder Dr Sanjay Vijendran was one of the principal leaders of the European Space Agency’s Solaris initiative, a three-year research and development programme launched in 2022 to evaluate the feasibility of space-based solar power for Europe. When ESA concluded in August 2024 that the technology was not yet mature enough to proceed to a full demonstration mission, Vijendran left to co-found TerraSpark alongside serial entrepreneur Jasper Deprez, who previously built HRTech platform Tradler into a global operation, and Matthias Laug, who serves as chief operating officer.
Rather than attempting to deploy orbital infrastructure immediately, TerraSpark is pursuing a phased commercialisation strategy that begins on the ground. The company’s core technology centres on radio frequency-based wireless energy transmission, which it plans to demonstrate first in controlled terrestrial environments before scaling the system into orbit. This approach allows TerraSpark to validate critical parameters — alignment accuracy, energy density, and atmospheric tolerance — while simultaneously building a commercial pipeline for industrial wireless power applications.
An ambitious roadmap to orbit
TerraSpark’s development timeline is structured around a series of escalating milestones. In 2026, the company plans to demonstrate wireless power transmission over controlled distances on Earth. By 2027, it intends to launch an orbital technology demonstrator, and by 2028, it aims to achieve the first space-to-Earth power transmission — beaming solar energy from a satellite prototype to a ground receiver. Full commercial deployment, with a constellation capable of delivering continuous, weather-independent energy worldwide, is targeted for 2030 and beyond.
The company has already secured a partnership with Dcubed to test its solar array technology on a SpaceX mission scheduled for 2027, providing an early orbital validation opportunity that could prove pivotal for subsequent fundraising rounds.
European space-based solar power gains momentum
TerraSpark’s raise reflects a broader shift in European energy and deep-tech investment. France’s national quantum and space strategies have allocated billions in public funding, while the European Space Agency continues to explore power-from-space concepts through its broader technology programmes. The European Commission’s long-term energy strategy has also identified space-based solar power as a potential contributor to the continent’s net-zero targets, lending policy-level credibility to the sector.
The wireless energy transmission market itself remains nascent, but the convergence of improved satellite launch economics — driven by companies such as SpaceX — with advances in photovoltaic efficiency and power beaming technology is creating conditions for the first generation of commercial space solar ventures to emerge. TerraSpark’s decision to base itself in Luxembourg, a country that has actively positioned itself as a European hub for space commerce through its SpaceResources.lu initiative and favourable regulatory environment, adds a further strategic dimension to its positioning.
For European deep-tech investors, TerraSpark represents a high-conviction bet on a technology that, if proven at scale, could fundamentally alter the global energy landscape. The pre-seed round provides the capital to reach the critical terrestrial demonstration milestones that will determine whether the company can attract the substantially larger investment required for its orbital phases.
Summary
Company: TerraSpark
HQ: Luxembourg
Founded: 2025
Round: Pre-Seed
Amount: €5 million+
Lead Investor: Daphni
Use of Funds: Terrestrial wireless power transmission demonstration, orbital technology development, team expansion
marking one of the earliest significant private i— alignment accuracy, energy density, and atmospheric tolerance — while simultaneously building a commercial pipeline for industrial wireless power applications.