Volodymyr Levykin Shares Thoughts on the UK Space Future & Sustainability

Skyrora CEO Volodymyr Levykin, along with other top experts in the area, believes that protecting our home planet and fighting climate change will soon become the ultimate space mission of all times. As ever more companies emphasise sustainability and innovation, the space sector is getting ready to embrace the same principles. How close are we to space sustainability?

Volodymyr Levykin on Space Future & Resources

On 21st March, Volodymyr Levykin shared some of his thoughts about the future of space with CITY A.M. He made a reference to Rishi Sunak’s Budget speech and his intention to make Britain a science superpower. Today, Britain’s space potential is stronger than it has been since 1971 after the Black Arrow program was curtailed. However, the UK still has a lot to aspire to – for example, just recently, we were captivated by NASA’s pictures from Mars.

Levykin believes that Britain faces a monumental task, and innovation is the key to access. He stresses that future space exploration should be decarbonised to ensure our home planet’s safety and sustainability. As a reminder, Skyrora’s innovative Ecosene fuel produces 45% fewer emissions than traditional kerosene-based fuels. 3D printing is another innovative technology Skyrora makes full use of. It reduces the production cost and acts as a game-changer in the sustainable, green space race. 

Volodymyr Levykin also praised the government’s efforts in developing the space sector. Recently, £3.4 million was granted to tackle global development issues. The UK authorities believe these funds will draw innovation, helping the country and its businesses in the post-COVID crisis. He mentions new visa rules and super-deduction tax, stating that these new policies and regulations will create plenty of high-skilled job opportunities. Volodymyr believes these steps could result in £14.8 billion worth of revenue. 

Levykin believes that private investors’ support is as vital in developing the UK space sector as the government funds. One of the major investors is Seraphim Capital. Since the updated UK space policy in 2018, it has invested over £55 million into the space industry, supporting a total of 42 startups. The space industry policy act, initiated in 2018, should also help the niche grow by 10% in the next decade alone.

Still, one of the major milestones to be accomplished for the UK to compete in the international space arena is the commissioning of its own spaceports. Volodymyr Levykin places his bet on Spaceport Cornwall even though another facility may begin operations first.