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Mitsubishi Electric, ME Innovation Fund Invests in Zenno Astronautics Ltd.To increase the competitiveness of the space business using superconducting technology for space applications

FOR IMMEDIATE RELEASE No. 3751

TOKYO, November 29, 2024 - Mitsubishi Electric Corporation (TOKYO: 6503) announced today that its ME Innovation Fund has invested in Zenno Astronautics Ltd., a New Zealand-based startup company that develops superconducting technology for space applications. This is the ninth investment that the fund has made to date.
As satellites have become smaller and cheaper and the number of satellite launches is increasing rapidly, the importance of attitude control, a vital technology for the operation of artificial satellites, has also increased. Attitude control plays a crucial role in the success of a satellite's mission such as communication, observation, and data collection by adjusting and maintaining the satellite's attitude, allowing for precise positioning of communication antennas, cameras, and sensors.
Zenno Astronautics, led by a CEO who has been studying space applications of superconducting technology for many years, is a developer of an innovative satellite attitude control component that uses superconducting technology to efficiently generate a magnetic field with small energy loss. In addition to being smaller than conventional components^*, this component has advantages in many areas including generation of high-efficiency torque^** with lower power consumption.
By investing in Zenno Astronautics, the goal of Mitsubishi Electric is to boost the company's competitiveness in the space business by studying and evaluating the technology of Zenno Astronautics' satellite attitude control component with the vision of applying it to the company's satellites.

Max Arshavsky, Co-founder and CEO of Zenno Astronautics Ltd., said, "We are pleased to welcome Mitsubishi Electric as an investor through Global Brain's ME Innovation Fund. We see great potential in a partnership with Mitsubishi Electric, a pioneer in Japan's space technology development and a global leader in satellite manufacturing and space systems."

Satoshi Takeda, Executive Officer, CDO (In charge of DX, Vice President, Business Innovation) at Mitsubishi Electric Corporation, said, "Through the investment in and collaboration with Zenno Astronautics, we believe the innovative superconducting technology in space will boost the competitiveness of our space business. Mitsubishi Electric will maximize the synergy between the two companies and contribute to developing the space industry."