Equatorial Space Systems (ESS), a leading innovator in hybrid rocket propulsion, is making significant advancements in the aerospace sector. Founder and CEO Simon Gwozdz recently flew in from Singapore to prepare for the company’s upcoming static firings and test launch campaigns. His visit also marked the finalisation of the US$1.5 million Pre-Series A financing round, co-led by Paspalis and Farquhar Ventures, a private Singapore-based venture capital firm. Paspalis and the Northern Territory’s Local Jobs Fund have partnered to create a co-investment fund, which has contributed to this recent investment.

Simon Gwozdz, Harley Paroulakis (CEO of Paspalis), and Alex Farrugia (Investment Manager at Paspalis) visited ESS’s offices in Winnellie and Hidden Valley. The Winnellie office serves as the storage, staging, and assembly base for the company’s hot-fire testing programme in Hidden Valley. To support these activities ESS plans to hire Test Technicians and Test Engineers in the Territory.

The Hidden Valley site, secured in December 2023, underwent a thorough clean to ensure it met the safety and operational standards required for ESS’s testing programmes. This site will play a crucial role in the company’s development and testing of hybrid rocket propulsion systems.At the Darwin Innovation Hub, Simon, Harley, and Alex discussed ESS’s strategic work plan for the next 12 months. A key focus of this plan is the collaboration with another Paspalis investee, Equatorial Launch Australia, which operates the Arnhem Space Centre. The Arnhem Space Centre has been selected as the preferred launch site for ESS, with the first launch slated for late 2024.

“Paspalis is thrilled to support Equatorial Space Systems as they advance their cutting-edge rocket propulsion technologies,” said Harley Paroulakis. “Their innovative approach and strategic collaborations are poised to make a significant impact in the aerospace industry.”

Simon Gwozdz’s visit underscores ESS’s commitment to leveraging the Northern Territory’s unique advantages for aerospace innovation. The region’s strategic geography, robust infrastructure, and growing reputation as a world-class training and testing hub provide an ideal environment for ESS’s ambitious projects.

ESS’ progress and strategic initiatives, backed by Paspalis and other key partners, highlight the potential for significant advancements in space technology. With the support of Paspalis, ESS is well-positioned to drive innovation and achieve new milestones in the aerospace sector.