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The former CEO of SpaceIL, Dr. Eran Pribman, was appointed CEO of the startup NewRocket

Dr. Pribman managed SpaceIL for the past five years and served as CEO of Amdocs Australia

Dr. Eran Pribman. Photo: Alon Hadar, Newrocket
Dr. Eran Pribman. Photo: Alon Hadar, Newrocket

NewRocket, a graduate of the Incubit incubator, announced today that it has recruited Dr. Eran Pribman as the company's new CEO. Dr. Pribman, who until recently served as the CEO of SpaceIL, joined NewRocket to realize the opportunities before the company, complete the development of its innovative rocket engine and lead it to penetrate the global satellite market. The combination of the unique features of NewRocket's innovative patent technology significantly lowers rocket propulsion costs and enables a breakthrough in the field of small satellites currently being developed in the New Space market.

For the past five years, Dr. Eran Pribman has managed SpaceIL, which is developing the first Israeli spacecraft that is destined to land on the moon early next year. In the past, Pribman served as CEO of Amdocs Australia, held the positions of VP in the billing division of Amdocs and managed the technological development division of Partner. Pribman holds a doctorate in computer science with a specialization in brain research. Pribman served in the military as a fighter pilot and in a variety of systems development positions.

Dr. Eran Pribman stated: "I am proud to join a company with innovative patent technology, accumulated projects and commercial infrastructure that testify to the significant potential of the technology and the opportunity to bring about a breakthrough in the field of propulsion of small satellites. Based on the company's capabilities and assets, we will soon lead a round of capital raising in order to speed up the production processes and the integration of NewRocket technology into satellites."

Ran Bar Sela, Chairman of the Board of Directors of NewRocket and CEO of Incubit said: "Dr. Eran Pribman has abilities and experience that will allow the company to continue to progress towards realizing its inherent potential and we are happy about his joining. I am proud of Incubit Incubator's ability to help NewRocket develop from an initial technological stage to a company with a proven technological solution, a clear business model, real business opportunities, commercial infrastructure and a first-class management team. The main potential of NewRocket's technology is in the international civilian space industry, and that is where we will continue to focus our efforts. We will work to develop agreements with additional commercial companies and raise additional funding from various sources, including a grant from the Innovation Authority as part of the MiMD program and a grant from the Space Agency."

NewRocket was founded in 2014 as a portfolio company of Elbit Systems' Incubit incubator. The company was established by the entrepreneurs Zohar Shlagman and Moti Eliashiv, based on technology invented at the Technion by Prof. Benny Natan. The company is mainly active in the global space market, which is currently in the midst of a disruptive change ((disruptive change) and the beginning of the New Space era, which is characterized by the increasing demand for small and cheap satellites in large and increasing quantities, the accelerated entry of private companies into the market and increasing pressure to lower production and launch costs. The technology developed by NewRocket answers on the set of these challenges and enables a significant reduction of costs while controlling and precisely controlling the ignition and thrust of the engines.

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