South Australia’s Neumann Space has joined the growing space ecosystem at Lot Fourteen, bolstering the neighbourhood’s reputation as the ideal place for innovative collaboration in high-growth industries.

The company, which is developing cutting-edge propulsion technology to improve the thrust performance of satellites, is co-located at Lot Fourteen with another star of the South Australian space industry firmament, Inovor Technologies.

Lot Fourteen is being developed by Renewal SA on behalf of the state government as an ideas neighbourhood for deep tech, high growth industries.

A memorandum of understanding was signed between the two companies to formalise their collaboration at the opening of the new Neumann Space premises yesterday.

Under the agreement, Neumann will provide Inovor with a thrust propulsion system to send its nanosatellites into orbit.

The state government will also provide $850,000 in funding to support the growth and development of Neumann Space, through the Department for Innovation and Skills’ Research, Commercialisation and Startup Fund.

Neumann Space Executive Chairman Peter Schultz said Lot Fourteen was the ideal location for his company to thrive.

“We now know for certain we made the right decision to relocate the company from Sydney to Adelaide,” Mr Schultz said.

“The vision, inspirational environment and understanding of the needs of technologically leading- edge startups is just right, and the state government should be congratulated on their vision.”