Foresight Williams invests more in Oxford Space Systems, one of the first
stage space technology company
- The company is a leader in the development and marketing of deployable and storage-efficient satellite antennas
- The investment is part of a £3.9m growth round led by Longwall Ventures and includes participation from the National Security Strategic Investment Fund (“NSSIF”)
- Funding to support product development and sales expansion
March 14, 2022: Foresight Group (“Foresight”), a listed private equity and infrastructure investment manager, is pleased to announce an additional £624,000 growth capital investment in Oxford Space Systems ( “OSS”), an early-stage satellite component company. The investment is being funded by the Foresight Williams Technology Fund (“FWT”), a joint venture between Foresight and Williams Advanced Engineering (“WAE”).
Founded in 2013, OSS is a manufacturer of innovative satellite components designed to capitalize on the trend towards lighter and smaller satellites. Its deployable antenna products provide a more efficient stowage solution, reducing the volume and mass of transport in each satellite, thereby enabling more satellites per launch and, especially when launch costs are high, reducing the cost of each operation. .
FWT initially invested in November 2018 and this new £3.9 million investment round will accelerate the commercialization of its existing portfolio of flight-proven deployable antenna products and develop innovative new products. Alongside major UK venture capitalists, this round was backed by the National Security Strategic Investment Fund (“NSSIF”), which is the government’s corporate arm for national security and Defence, in close cooperation with the Ministry of Defense (“MoD”).
The initial focus with the MoD client will be “wrapped rib antenna”. It is a pioneering new space antenna deploying carbon fiber ribs from a central hub to form a 3m+ dish supporting a high performance wire mesh reflector surface. It has a single compact row configuration and achieves a very cost effective performance when deployed in orbit. This antenna technology developed in the UK will be used to meet the needs of synthetic aperture radar (SAR) imagery in low Earth orbit at fine resolution. SAR enables Earth observation in all weathers, regardless of the time of day or night. This offers unique advantages for civil and defense applications.
Commenting on the investment, Nick Mettyear, Chief Investment Officer at Foresight, said: “Foresight is delighted to continue supporting OSS. This strategic partnership with NSSIF marks an exciting new step for the company and its products.
Sean Sutcliffe, Managing Director of OSS, added: “This investment will allow us to accelerate our business plan and in particular our product development for the revolutionary Wrapped Rib SAR antenna. We are particularly pleased with the continued support of Foresight Williams, both in terms of additional investment but also the work we have undertaken with Williams Advanced Engineering.”
Matthew Burke, Head of Technology Enterprises, WAE added: “Since FWT’s initial investment, it has been wonderful to see the relief experts OSS and WAE working together, and with that follow oninvestment, we are delighted to continue our support of Sean and the OSS team.”
For more information contact:
Lucy Sherwood: [email protected]/ +44 (0)20 3763 6977
Notes to Editors
About Oxford Space Systems
Oxford Space Systems is one of a small number of new satellite hardware manufacturers and leverages innovations beyond the space sector. We bring together our knowledge of materials science, RF engineering, mechanics and thermal engineering to make our deployable antennas smaller, lighter and less expensive than traditional designs.
Oxford Space Systems aims to become the world leader in deployable antennas for space, providing effective solutions today for the space services of the future.
About Foresight Group LLP (“Foresight”):
Foresight Group was founded in 1984 and is a leading manager of publicly traded infrastructure and private equity investments. With a long-standing focus on ESG and sustainability-driven strategies, it aims to deliver attractive returns to its institutional and private investors from hard-to-reach private companies.
markets. Foresight manages over 300 infrastructure assets with a focus on onshore solar and wind assets, bioenergy and waste, as well as renewable energy projects, energy efficiency management solutions, energy projects social and basic infrastructure and sustainable forest assets. Its private equity team manages eight regional investment funds across the UK, supporting over 120 SMEs. Its Foresight Capital Management team manages four funds with £1.5 billion in assets under management (AUM), investing in listed property assets with environmental and social benefits. Foresight operates from 12 offices in six countries across Europe and Australia with assets under management of £8.4 billion as of December 31, 2021. Foresight Group Holdings Limited is listed on the Main Market of the London Stock Exchange in February 2021.
About Foresight Williams Technology
Foresight and Williams Advanced Engineering began their investment collaboration in 2016 with the launch of the Foresight Williams Technology EIS Fund. 2019 saw the launch of a sister fund, the Foresight Williams Technology VCT share class, part of Foresight Solar & Technology VCT plc. Both of these funds target investments in companies developing innovative and transformational technologies and where we believe the expertise and services of Foresight and Williams can be leveraged to assist in business development, with the aim of achieving successful exits at multiple valuable.