Rocket engine manufacturer Hypermetal seeks €5 million and has its sights set on a project with Dassault Aviation

Hypermetal, a rocket engine manufacturer based in Vila Nova de Gaia, wants to close a financing round of up to five million euros by the end of this month and has its sights set on a project related to a space vehicle involving Dassault Aviation, which has “very real potential for implementation”. For this year, it estimates it will achieve a turnover of 1.2 million euros.

The company, whose activity is mainly focused on the aerospace sector, recently invested in a machine — the NXG XII 600 Laser Beam Powder Bed Fusion (PBF-LB) — “configured to work with Inconel, a nickel superalloy widely used in aerospace and defence applications due to its mechanical and thermal resistance in extreme environments”, explains Afonso Nogueira, CEO of Hypermetal, to ECO/eRadar.

This equipment — which required an investment of around €5 million, of which €1.83 million was financed by PT2030, with the remainder being secured through a combination of equity, bank debt and investors — allows the company, based in the industrial area of São Caetano, in Vila Nova de Gaia, to achieve economies of scale, more economical production and reduced production times.

In practical terms, it enables the “manufacture of large structural and propulsion components in a single construction”, while also giving the company “the ability to integrate European supply chains with high productivity and repeatability requirements”, explains the CEO.

“Last year, around 75% of our activity was linked to the space sector, mainly propulsion systems for launchers. We produce rocket engines using the same metal additive manufacturing technology employed, for example, by SpaceX in its Raptor engines”, says Afonso Nogueira, summarising that, with this new production capacity, they are moving “from a logic closer to advanced prototyping to a clear logic of certified industrial production”.

Hypermetal also recently received EN9100 certification, a specific standard for the aerospace and defence industry — “which establishes strict requirements in terms of process control, traceability, risk management, supplier qualification and quality assurance” — opening up further opportunities. “This certification is a fundamental requirement for integrating supply chains of large international groups and strengthens our position as a qualified industrial partner”, he points out.

Afonso Nogueira admits, on the other hand, that the investment made in production capacity is already bearing fruit. “We have several NDAs [Non-Disclosure Agreements] signed, qualification processes underway and active requests for quotations. We are very close to signing a major contract with one of the world’s leading players in the aerospace sector and we have already agreed production deals with another large international group in the propulsion and defence sector, having started the qualification process to become direct production suppliers. This is a demanding process, estimated to take around two years, which will culminate in the production of flight parts”, he reveals.

Diversifying into the defence sector

Last year, the company recorded a turnover of around €300,000. “By 2026, we estimate that we will reach €1.2 million, with approximately half of that amount already contracted. This growth is the result of the company’s natural progress and is also a direct consequence of EN9100 certification, which allows us to participate in more demanding qualification processes and respond to typical aerospace and defence programme requirements, and of the truly differentiating investment we are making, which positions us at a distinct industrial level”, points out Afonso Nogueira.

The aerospace sector accounts for the majority of activity (around 75%), mainly propulsion systems, with the remainder corresponding to on-demand industrial projects, but by 2026 it estimates “greater diversification, with the defence sector accounting for approximately 25% of activity”.

“Our goal is to maintain sustained growth, keeping pace with the industrialisation of ongoing contracts and integration into European supply chains. We believe that Portugal can be a strategic industrial supplier to the new European chain, provided it can combine technological innovation with certified production capacity”, he considers.

The company recently attended Industry Day, held by the French Embassy in Portugal. “We have been actively participating in Industry Days promoted by idD and the AED Cluster, providing technical support for major national defence procurement projects and showcasing our capabilities as an industrial partner”, he says. “In the specific case of Industry Day in France, cooperation projects within the scope of SAFE were discussed”, he adds, referring to the European loan programme for which the European Commission has mobilised a package of €150 billion.

The meeting generated positive expectations for business opportunities. “In addition to institutional meetings, we met with nine French companies. I would highlight a project related to a space vehicle involving Dassault Aviation, which has very real potential for implementation”, he says. “The outcome is clearly positive, especially in terms of strategic positioning and the creation of industrial partnerships”.

Funding round underway

In addition to recent investments in equipment, Hypermetal intends to “set up two internal quality laboratories” in the short term: “one for pre-production (Powder & Process Qualification Lab), for raw material validation and process qualification”, and a second for “independent verification and batch approval (Independent Verification & Batch-Approval Lab), with internal capacity for tensile, hardness and fatigue testing and three-dimensional control of toleranced geometry”.

“Within one to two years, it may make sense to invest in complementary technology, such as a DED (Directed Energy Deposition) machine. Between two and four years, we foresee the possibility of acquiring a second large-format machine equipped with another material”, he lists. And in five years, “it may be feasible to acquire even more sophisticated equipment, which is not yet on the market, but whose development we are closely monitoring”.

In addition to its productive investment, Hypermetal is leading the “A3Shell” R&D project, approved under the PITD/FEDER programme, with a total investment of €1.1 million. “The project, developed in partnership with the University of Coimbra and the Pedro Nunes Institute, aims to investigate new methods of additive manufacturing of watertight metal structures for the aerospace sector, combining advanced numerical modelling and machine learning to mitigate defects and deformations during the production process”, explains the CEO.

“This R&D component complements industrial investment, allowing us not only to produce, but also to develop our own technology and differentiate ourselves through the quality and robustness of our processes”, he adds.

“These industrial and technological developments have been attracting the interest of investors”, acknowledges Afonso Nogueira, admitting that the company is soon expected to receive a capital injection: “We are currently structuring an investment round aimed at strengthening our growth capacity and accelerating the consolidation of Hypermetal as a leading industrial player in the aerospace and defence sector.”

“We are structuring a survey with a target of up to €5 million, in line with the ongoing industrial and technological investment plan. The round is already underway and we intend to close it by the end of February”, he explains, when questioned by ECO/eRadar about the fundraising goal.

However, he assures us that “the investment plan is not solely dependent on this fundraising: any shortfall will be covered by bank financing and equity capital, thus ensuring that the project will go ahead as planned”.

These growth plans will be reflected in the strengthening of the team, which currently consists of nine employees. “In the second half of 2026 and the first half of 2027, we expect to almost double the team, mainly strengthening it with engineering profiles (materials, mechanics and physics), specialised operators and administrative and operational and quality support functions.”