All Nippon Airways parent company is pumping additional money into a Japanese space-venture company.
ANA Holdings is injecting 200 million yen into PD Aerospace two years after jointly investing 20.4 million yen two years ago alongside H.I.S., one of Japan’s biggest travel agencies.
They forged a capital alliance with PD Aerospace to develop commercial space flight using a new type of spacecraft.
PD Aerospace last year succeeded in an experimental propulsion system, which can alternate between a jet engine and rocket engine function.
The aim is to fly an unmanned spacecraft equipped with a revolutionary new propulsion system up to an altitude of 100km next year.
ANA aims to create new markets and demands such as space travel and high-speed transport which will significantly shorten travel time of commercial flights.
The additional funding will help the Japanese space company transfer its research and development site to a new location, including a hangar for the spacecraft which is eight times bigger than the current one.
ANA Digital Design Lab vice president Yoshiaki Tsuda said: “ANA is excited about the future of transportation and how PD Aerospace’s space technology will play an integral role.
“We are increasing our financial support to help expedite the project’s timeline of testing, certification and first flight.”