Yamato Holdings Corporation (Head Office: Chuo-ku, Tokyo; President & CEO: Yutaka Nagao) has made an additional investment in Pale Blue Inc. (Head Office: Kashiwa City, Chiba Prefecture; Representative Director: Jun Asakawa; hereinafter “Pale Blue”) through the “KURONEKO Innovation Fund.

Pale Blue is a University of Tokyo startup developing a water-based propulsion engine for small satellites. Many propulsion systems use high-pressure gas or toxic substances as propellants, but Pale Blue has developed a propulsion system that also considers the space environment and operator safety by using water as the propellant. In March 2023, Pale Blue’s propulsion system was successfully installed on a small satellite and operated in space for the first time. Further applications in the space industry in Japan and abroad are expected in the future.

The KURONEKO Innovation Fund has decided to make an additional investment in Pale Blue in recognition of the company’s past achievements, its expected expansion in the growing market for small satellites, and its continued technological innovation. We will continue to support the company’s growth, deepen our knowledge of the space industry, which is expected to expand further, and explore new business possibilities.