Foresight Group invests over £2m into 'innovative' space tech group

Foresight Group has announced the investment of £2.1m into Oxford Space Systems Limited from the Foresight Williams Technology EIS Fund.

OSS is a space technology business, hoping to pioneer the development of a new generation of deployable antennae and boom arms for nanosatellites that are lighter, less complex and lower cost than existing solutions.

Designed to address the technical challenges of delivering high and consistent performance, these new systems also meet the needs of packaging, weight, durability, time to market and cost in the extreme operating conditions of space.

John Holden, principal of Foresight Group, said: “Oxford Space Systems is a highly innovative and market-leading business with a unique, differentiated product offering.

“We are delighted to be entering this partnership with OSS and to have the opportunity to be involved in their growth and development over the upcoming years.”

OSS technology is highly compatible with Williams Advanced Engineering’s capabilities in advanced light-weight materials and structures.

Potential areas of support include design, analysis and prototype manufacture of specialist composite components as well as access to lightweight structures specialists.

Foresight’s investment will support the development and commercialisation of OSS’s products, alongside the expertise of Foresight’s experienced investment management team.

Matthew Burke, head of technology ventures at Williams Advanced Engineering, added: “We are delighted that the Fund has invested in Oxford Space Systems and we look forward to supporting the growth of the company.

“There is a good fit between OSS technologies and Williams Advanced Engineering’s expertise and it is great to be able to explore additional ways in which we can work together on new discoveries and applications alongside the investment.”

This is the Fund’s sixth investment, following investments into the likes of Southampton-based Utonomy, an intelligent gas grid solutions provider; Codeplay; an Edinburgh-based software developer focused on autonomous vehicles, to The Salford Valve Company, a manufacturer of ecologically sustainable aerosol valves.