Auckland headquartered space-tech company Zenno Astronautics (Zenno) has announced that technology executive Erica Lloyd is joining the team as Chief Revenue Officer. The company is remaking what is possible for satellite design and function with its proprietary superconducting magnet technology. Zenno offers the global space industry the ability to radically reduce energy use coupled with enhanced reliability and accuracy. Of significance is that Zenno breakthrough technologies open up new and currently unexplored performance and orchestration possibilities in space, opportunities that are well beyond the constraints of existing technologies.
“Our mission is to build life in space,” says Zenno CEO and co-founder Max Arshavsky, “we’re doing this right now with the world’s most advanced spacecraft pointing technology, we call this Z01, with more products for other space applications to follow. The timing is perfect for Erica to join Zenno; we’re five years old and are poised to scale and commercialize more of our R&D. Erica will help us to accelerate our growth.”
Fresh from three years in a global role with world-leading A.I company Soul Machines, previously with government innovation agency Callaghan Innovation and local technology giant Datacom, Erica Lloyd says, “Max and the team have an audacious vision and roadmap. This is backed up with their patented IP, sales momentum and having excellent investors on board. I’m delighted to join."
The space industry is expected to reach $USD1.1 trillion in annual revenue by 2040; expansion is rapid, with the global space economy worth over $USD 420 billion back in 2020. Cross-industrial sector applications are driving growth, with space launch costs plummeting, unlocking more opportunities and new services in orbit.
The space sector addresses multiple industries with opportunities for Zenno software and hardware products and services beyond space explorations and operations, for example, in meteorology, environment, healthcare, telecommunications and defense. Max Arshavsky says, “New Zealand’s space sector is highly innovative, scaling fast and highly connected; this creates a solid foundation for Zenno’s global expansion.”
The New Zealand based space industry is estimated to be worth more than $ 1.75 billion and employs about 5,000 people and another 7,000 in support services. Erica Lloyd, Chief Revenue Officer, Zenno, and Max Arshavsky, Zenno CEO and co-founder, are poised to target the global space sector and disrupt the satellite industry with superconducting magnet technology. The company's entry into the market has been highly anticipated, and its rapid growth comes with expectations of Zenno signing long-term contracts with global clients. With Lloyd joining the leadership team, Zenno is set up to aggressively chase its ambitious expansion plans.