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.

Speaking at the event, Premier Marshall said the MOU was an example of the unparalleled collaborative opportunities offered at Lot Fourteen.

“I’m delighted to see Neumann Space be a part of the thriving neighbourhood at Lot Fourteen, which is already home to the Australian Space Agency, SmartSat CRC, Myriota, Inovor Technologies and a growing cluster of companies in high-growth industries such as defence, space and cyber,” he said.

“This strategic move will enable Neumann Space to seize opportunities and collaborate more closely with industry partners, researchers and mentors to support the development and commercialisation of their technology.

“I congratulate Neumann and Inovor on pledging to work together and committing to share expertise and experience.

“This level of collaboration will further strengthen the capability of our local space ecosystem and help us make a footprint on a national and international scale.”

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.

Minister for Innovation and Skills David Pisoni said the decision by Neumann Space to relocate from Sydney to Adelaide was a vote of confidence in the South Australian economy.

“The Marshall Government is making this funding available on behalf of South Australian taxpayers because there are enormous economic and employment benefits flowing from the activity that is occurring in these emerging industries at Lot Fourteen,” Minister Pisoni said.

Neumann Space Executive Chairman Peter Schultz, of 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.”