🔥 Our 2026 HyImpulse update:
- 🚀 SR75-1 flew 3 May 2024 from Koonibba / Southern Launch — hybrid motor as planned; recovered for analysis
- 📜 UK CAA operator licence (28 Sep 2026) for HyImpulse UK Ltd — SR75 from SaxaVord; company target now spring 2027 (not end-2026)
- 💰 Series A ~EUR 15m equity + ~EUR 30m public package (Oct 2025); Series A Extension > EUR 50m equity (2 Sep 2026). Company says > EUR 125m equity + public combined, and an order book > EUR 350m — both are company claims, not audited totals
- 👥 Filed average employees 52 in 2024; company boilerplate over 100 as of Oct 2026 (Neuenstadt, Ottobrunn, Glasgow)
- 🛰 SL1 still the launcher (600 kg LEO on current company materials). HyMOVE is a separate OTV, commercial from 2028
Australia answered the riddle — Shetland is next
In March 2024 we asked why a German rocket was sailing to Australia when Scandinavia and Shetland were on the map. The answer arrived on 3 May 2024: SR75-1 left the pad at Koonibba. Europe’s licensing pace lost that round.
The return ticket is paperwork. On 28 September 2026 the UK CAA issued a Spaceflight Operator Licence to HyImpulse UK Ltd for SR75 operations from SaxaVord. One launch in twelve months, conditions attached. A month earlier the company still talked about “end of 2026”; the 1 October PR moved the Europe flight to spring 2027, citing remaining licence activities and Shetland weather. That slip is public — keep it in the claims log.
Money finally looks like a round
For years the balance sheet read like a Schwarz-Holding loan book plus grants. That changed:
- October 2025 Series A: about EUR 15 million equity and about EUR 30 million public financing in the same announcement — keep equity and public separate.
- September 2026 Series A Extension: more than EUR 50 million equity, co-led by JOIN Capital and Ace Capital Partners.
- Company aggregate line from that PR: more than EUR 125 million in equity and public funding to date; order book more than EUR 350 million. We repeat those as attributed company statements on this update post. They are not Jahresabschluss line items.
ESA Boost! stack for the review: Dec 2023 EUR 6.5m (= £3.392m UKSA + EUR 2.5m DLR); Nov 2024 EUR 11.8m; Dec 2025 further ESA EUR 10.0m per the FY2024 Lagebericht (no separate PR found).
Register capital after the August 2026 capital increase: Stammkapital EUR 91,087. Largest GmbH holders: Schwarz Holding ~28%, HyImpulse Holding ~27%.
Oman is an LOI, not a pad booking
On 2 June 2026 HyImpulse and Etlaq Spaceport signed a letter of intent to explore SR75 and SL1 operations in Oman. Explore ≠ schedule.
Headcount: two numbers, two definitions
The FY2024 accounts still show 52 employees on average (excluding managing directors) — same as 2023. Company press-release boilerplate climbed from “over 65” (Oct 2025) to “over 90” (Jun 2026) to “over 100” (Sep/Oct 2026). We lead with the filed average and footnote the company claim. No blended number.
What’s next
SR75-2 from SaxaVord in spring 2027 if the licence conditions and weather cooperate. SL1 orbital market talk from 2027. HyMOVE OTV commercial talk from 2028. The hybrid motor has flown once in commercial form. Cadence is the product now.
For the fully updated analysis, read the refreshed HyImpulse review.
All information in this analysis was obtained from public sources and we encourage you to do your own due diligence. Feel free to contact us for corrections or share our content. Attribution is always welcome.
