Having launched LituanicaSAT-1, one of the first Lithuanian satellites, and nearly completed the development of a second satellite, the Lithuanian space technologies start-up NanoAvionics is seeking a EUR 2.5 million investment from the EU Framework Programme for Research and Innovation Horizon 2020. Upon implementation of the plans, Lithuanians will become the first in the world to use their system in nano-satellites. 

NanoAvionics received initial financial support of EUR 50,000 from the European Commission (EC) with the possibility to ensure continued funding for the currently developed miniaturized propulsion system, which will operate with non-toxic Ammonium Dinitramide (ADN) based mono-propellant. 

The second phase of funding is aimed at the implementation of the business plan – having received the EUR 2.5 million investment, the development of the company’s system would be completed and would enter the international market. 
In 2014-2020, the EU Framework Programme for Research and Innovation Horizon 2020 will distribute nearly 80 billion euros in support for innovation, space, nano-technologies and other research.

“This programme is aimed at funding the implementation of the most innovative ideas. Out of 48 applications submitted for the development of space industry-dedicated products, during the first quarter of this year, our project was one of 4 projects having received funding for further implementation. Product ideas of a mere 16 companies are funded each year, thus such international recognition and evaluation increases our ambitions and offers more opportunities to continue the development of space technologies and glorify the name of our country worldwide,” said  Vytenis Buzas, CEO of NanoAvionics.

In 2014, the first Lithuanian satellite LituanicaSAT-1 was launched as a result of the joint effort of a team of scientists from Vilnius University and NanoAvionics. This year, the second satellite LituanicaSAT-2 will be launched into space.