Arkadia Space, a SpaceTech startup based in Castellon, secured €14.5 mn after selection by the European Innovation Council Accelerator. The package includes a €2.5 mn grant, €6 mn in equity from the EIC Fund, and another €6mn in private investment.
The award makes it the first Spanish space company backed through this instrument. The company said 61 startups were selected from 923 applications submitted across Europe.
Francho Garcia, Arkadia co-founder and chief executive, said the EIC backing arrives at a decisive point for the business.
Over the past year, he said, the company proved its technology meets market requirements and gives operators a real performance alternative to highly toxic fuels. He said the award confirms Arkadia is on the right track and gives the company a strong push toward commercialisation as early as next year.
EIC support comes at a critical moment for Arkadia. Over the past year, we have demonstrated that our technology meets market requirements and offers a true performance alternative to highly toxic fuels.
Francho García, co-founder and CEO of Arkadia Space
“This recognition confirms that we are on the right path and gives us a tremendous boost to commercialise the technology as early as next year,” said Francho Garcia.
Founded in 2020 by Francho Garcia, Francisco Espinosa, Ismael Gutierrez, and Sergio Soler, Arkadia Space builds green propulsion systems for satellites and space vehicles.
The founding team had previously worked together at PLD Space. Now they are developing hypergolic bipropellant technology based on high-concentration hydrogen peroxide and a proprietary green fuel.
The company says the system is built to replace hydrazine and its derivatives, including MON and MMH, fuels known for high toxicity and facing tighter restrictions under European rules.
That shift matters. Propulsion buyers want performance, though they also want fewer regulatory headaches and lower handling risk.
Arkadia says the hypergolic property, used in bipropellant engines, allows immediate ignition when both propellants meet. That removes the need for complex ignition systems, improves reliability, and supports precise manoeuvres such as spacecraft docking and lunar landings.
The company says the technology cuts operational and refuelling costs by more than 60% against traditional systems, while improving safety and sustainability.
Arkadia says it is the only company in the world with hypergolic propulsion systems based on hydrogen peroxide at this stage of development. With EIC backing, the company says it is in position to become the first to commercialise the technology.
According to Beinsure analysts, Arkadia is pitching a cleaner propulsion model into a market still shaped by toxic legacy fuels, export controls, and heavy dependence on established suppliers. It’s a technical play, though it also has a supply-chain angle.
In the company’s view, the project carries strategic weight beyond funding. Arkadia says it reflects Europe’s push into green propulsion, an area with growing importance in the satellite and spacecraft supply chain. The company also says it wants to build a fully European supply chain without third-party dependence or ITAR restrictions.
The EIC award follows in-orbit validation of DARK, Arkadia’s green propulsion system launched in March 2025 aboard an Italian D-Orbit satellite on a SpaceX mission.
According to the company, the flight marked the first time in Europe that a hydrogen peroxide-based propulsion system reached space.
Arkadia is also expanding its test centre at Castellon Airport. The company says the site is becoming one of Europe’s most advanced private propulsion testing facilities, a move aimed at cutting development timelines.
Commercial traction is building too. Arkadia says it has secured several contracts and plans to announce them in the coming months. Last year, the company signed its first commercial contract with MaiaSpace, a European launcher company.
Back in 2023, Arkadia closed an oversubscribed €2.8 mn seed round led by Valencia-based Draper B1, part of the Draper Venture Network. This new financing takes the company into a different lane, bigger scale, sharper expectations, less room for drift.
