ATMOS Secures €13.1 Million Funding from European Union Accelerator Program to Advance PHOENIX 2 Development

ATMOS Space Cargo, a leading European space logistics startup, has been awarded €13.1 million in total funding by the European Innovation Council (EIC) Accelerator, a key program of the European Union’s (EU) Horizon Europe framework. This strategic investment, comprising a €2.5 million grant and €5.3 million equity from the EIC fund, complemented by €5.3 million in private equity, marks a significant milestone for European New Space start-up advancement. The funding announcement comes at a pivotal moment as ATMOS prepares for the inaugural flight of its PHOENIX 1 capsule this April.

The EIC investment will accelerate development of PHOENIX 2, introducing key technological advances that transform the capsule’s capabilities. Notable improvements include an integrated propulsion system for precise re-entry trajectory control, a high-bandwidth communications system, and solar power generation enabling extended orbital operations from hours to months.

This funding decision reflects the EIC Accelerator’s commitment to supporting transformative space technologies with clear commercial applications in sectors with no heavy regulations. ATMOS’ return capsule technology addresses growing market demand for microgravity research and manufacturing with the capability to scale payload capacity from 100 kilograms to multiple tons in future iterations. ATMOS is already developing an inflatable heat shield for returning entire rocket stages from space as part of the European Commission backed consortium named ICARUS (Inflatable Concept Aeroshell for the Recovery of a re-Usable launcher Stage).

The EIC’s substantial backing challenges the narrative that European institutions move slowly in supporting innovative ventures. This funding mechanism demonstrates that when presented with compelling technology addressing clear market needs, European public-private partnerships can efficiently deliver significant capital while maintaining result-oriented requirements, as evidenced by the program’s specification for two PHOENIX 2 flights.

The funding positions ATMOS to advance space logistic capabilities that are becoming increasingly critical for multiple sectors. The platform’s scalable payload capacity and flexible orbital duration enable research and manufacturing in many sectors such as life sciences, biotechnology and defense.