Mtar Tech enters agreement with IN-SPACe India for satellite launch vehicle

12 Dec 2022 , 10:02 AM

MTAR Technologies has signed a Memorandum of Understanding (MOU) with the Indian National Space Promotion and Authorization Centre (IN-SPACe) for the design and development of a two-stage to low-Earth orbit all-liquid small satellite launch vehicle powered by semi-cryogenic technology and capable of carrying a payload of 500 kg.

Both parties have entered into a framework MoU for various requirements such as avionics, subsystem testing, launch facilitation, and any other requirements that may arise during the design, development, and launch phases. The agreement will be effective for three years.

“The company has taken an all-liquid approach to leverage more than three decades of expertise in manufacturing liquid propulsion engines,” said MTAR Technologies Managing Director Parvat Srinivas Reddy.

MTAR has consistently embraced innovation in order to indigenously develop new technologies for India. Now, the company is moving from precision engineering to complete system integration by launching a project to develop a Two Stage to Low Earth Orbit All Liquid Small Satellite Launch Vehicle that will address a payload of 500 kg in the Low Earth Orbit, stated the company in its media release.

At around 10.03 AM, Mtar Technologies was trading at Rs1,694.10, up by 0.87% against previous close of Rs1,679.45 on NSE. The counter hit intraday high and low of Rs1,702.65 amd Rs1,665.10 respectively.

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