Key facts
- Hèlene Huby, CEO of The Exploration Company, is a key figure in Europe's space sector, aiming to boost its capabilities.
- The Exploration Company secured $450 million in Series C funding, a record for a European space firm.
- The company is developing a cargo spacecraft, Nyx, with potential ISS missions.
- Plans include a crewed spacecraft and a powerful reusable rocket named "Storm" with a new engine.
- Huby emphasizes the need for European ambition and political backing to compete globally.
Europe's space sector faces challenges with outdated projects like the Ariane 6 rocket and the delayed IRIS² constellation, prompting urgent questions about its future competitiveness against rapidly advancing US and Chinese companies. Amidst this landscape, French entrepreneur Hèlene Huby and her company, The Exploration Company, are emerging as a significant force.
Huby, described as the chief executive of "the fastest-growing space company in Europe," recently secured $450 million in Series C funding, marking the largest such round for a European space firm and potentially for a female-led company in Europe. She is also serving as an envoy at a high-profile International Space Summit convened by French President Emmanuel Macron.
Having previously worked for established European aerospace companies, Huby founded The Exploration Company five years ago. Initially focused on cargo delivery, the company's Nyx spacecraft is currently undergoing NASA safety reviews for a potential mission to the International Space Station as early as November 2028. However, Huby's larger ambition lies in human spaceflight, with preliminary work underway on a crew spacecraft that could serve the ISS or emerging private space stations. This aligns with a growing European desire for independent orbital access for its astronauts.
Beyond spacecraft development, The Exploration Company is also working on "Storm," a powerful liquid oxygen and methane-fueled engine designed for a reusable rocket capable of launching 40 metric tons in reusable mode and 60 tons in expendable mode. Huby has set an aggressive timeline, aiming for the rocket's development by 2033 and a prototype engine test-fire by late 2028. She stresses the necessity of such capabilities for Europe to remain relevant in space, noting the continent's current lack of a comparable engine.
Huby acknowledges the substantial costs involved, with billions of dollars required for the crewed spacecraft and large rocket programs. The recent funding is seen as a down payment, and further fundraising will be necessary. She emphasizes a focus on execution, including successful docking with the space station and de-risking the rocket engine, as key milestones to build trust and attract future investment.
While critics might point to The Exploration Company's limited flight history, Huby's vision is seen as a refreshing departure from what is perceived as a lack of big, visionary thinking within the European space community, which has often been characterized by large aerospace primes seeking government support or small launch startups. Huby's approach acknowledges the transformative investments by US companies like SpaceX and their Chinese counterparts, advocating for Europe to seize the moment rather than lamenting the changing landscape of spaceflight.
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