Destinus Company Profile

Background

Overview

Destinus is a European private aerospace company specializing in aerospace, defense, and energy solutions. Founded in 2021 by Mikhail Kokorich, the company is headquartered in Payerne, Switzerland, with additional offices in Germany, France, Spain, and the Netherlands. Destinus focuses on developing hypersonic aircraft, hydrogen propulsion technologies, and dual-use defense applications. The company's mission is to revolutionize long-distance travel and defense capabilities through sustainable and high-speed aviation solutions.

Mission and Vision

Destinus aims to build near-space vehicles and infrastructure to power the world's fastest and cleanest transportation network. The vision is to enable ultra-fast, intercontinental travel and provide advanced defense solutions, all while maintaining a strong commitment to sustainability and innovation.

Industry Significance

As of November 2024, Destinus achieved a market capitalization of CHF 650 million and is working towards a CHF 1 billion valuation. In 2024, the company's estimated turnover reached CHF 120 million, with projections indicating growth to CHF 250 to CHF 300 million in 2025. These figures underscore Destinus's rapid expansion and its significant impact on the aerospace and defense industries.

Key Strategic Focus

Core Objectives

• Hypersonic Aviation: Developing aircraft capable of traveling at speeds exceeding Mach 5, utilizing hydrogen propulsion to achieve ultra-fast, long-distance travel.

• Sustainable Energy Solutions: Advancing hydrogen-based propulsion systems to promote environmentally friendly aviation and energy production.

• Dual-Use Technologies: Creating versatile defense applications, including unmanned aerial vehicles (UAVs) for intelligence, surveillance, and reconnaissance (ISR) missions.

Areas of Specialization

• Hypersonic Aircraft Design: Engineering vehicles capable of sustained hypersonic flight, integrating advanced materials and propulsion systems.

• Hydrogen Propulsion: Developing hydrogen-fueled engines to reduce carbon emissions and enhance performance.

• Defense Applications: Designing UAVs and other defense technologies for rapid response and strategic operations.

Key Technologies Utilized

• Hybrid Propulsion Systems: Combining air-breathing engines with rocket technology to achieve hypersonic speeds.

• Advanced Materials: Utilizing heat-resistant and lightweight materials to withstand extreme conditions during hypersonic flight.

• Autonomous Flight Systems: Implementing AI and machine learning algorithms for autonomous navigation and operation of UAVs.

Primary Markets Targeted

• Commercial Aviation: Offering rapid, long-distance travel solutions for passengers and cargo.

• Defense Sector: Supplying advanced UAVs and hypersonic technologies for military applications.

• Energy Industry: Providing hydrogen propulsion systems and gas turbines for sustainable energy production.

Financials and Funding

Funding History

• Seed Round (February 2022): Raised CHF 26.8 million (approximately $29 million) from various venture funds and family offices across Europe, North America, Latin America, and Asia.

• Additional Funding (2023): Secured an additional $20 million by early 2023 to support ongoing development and expansion efforts.

Recent Developments

• Acquisition of OPRA (April 2023): Acquired Dutch industrial gas turbine manufacturer OPRA, rebranding it as Destinus Energy, to enhance capabilities in hydrogen and energy sectors.

• Acquisition of Aerialtronics (March 2025): Acquired assets of Dutch company Aerialtronics, specializing in multicopter UAV platforms, to strengthen AI-powered drone technology capabilities.

Intended Utilization of Capital

• Research and Development: Investing in the design, testing, and refinement of hypersonic aircraft and hydrogen propulsion systems.

• Infrastructure Expansion: Building testing facilities, including the Destinus H2 Park in Payerne, Switzerland, to develop hydrogen technologies for transport and energy.

• Market Expansion: Establishing a manufacturing plant for the first European hypersonic aircraft in Spain, leveraging the country's favorable conditions for aerospace testing.

Pipeline Development

Key Pipeline Candidates

• Destinus-3 (Supersonic Prototype): A 10-meter-long vehicle with a 3.5-meter wingspan, designed to reach supersonic velocities using hydrogen afterburner technology and a novel autopilot system. Scheduled for its first subsonic flight in early 2024, with supersonic campaigns to follow in late 2024.

• Destinus S (Hypersonic Airliner): A planned 25-passenger hypersonic airliner capable of flying from Paris to New York in 90 minutes or from Europe to Australia in around 4 hours, aiming for introduction in the 2040s.

Stages of Development

• Prototype Testing: Conducting subsonic and supersonic flight tests to validate design and performance.

• Hydrogen Propulsion Testing: Developing and testing hydrogen-powered engines to achieve sustainable hypersonic flight.

• Infrastructure Development: Establishing facilities for hydrogen production, storage, and refueling to support operations.

Target Conditions

• Long-Distance Travel: Reducing intercontinental travel times for passengers and cargo.

• Defense Operations: Providing rapid response capabilities for military applications.

Anticipated Milestones

• First Hydrogen-Powered Supersonic Flight: Scheduled for early 2024, marking a significant advancement in hypersonic aviation.

• Operational Deployment of UAVs: Ongoing supply of dual-use drones for defense and commercial applications.

Technological Platform and Innovation

Proprietary Technologies

• Hydrogen Propulsion Systems: Developing engines that utilize liquid hydrogen for propulsion, aiming to achieve zero carbon emissions during flight.

• Hybrid Propulsion Architecture: Combining air-breathing engines with rocket technology to enable efficient hypersonic flight.

Significant Scientific Methods

• Advanced Computational Fluid Dynamics (CFD): Utilizing CFD simulations to optimize aircraft aerodynamics for hypersonic speeds.

• Materials Science Innovations: Researching and applying heat-resistant materials to withstand the extreme conditions of hypersonic flight.

AI-Driven Capabilities

• Autonomous Flight Systems: Implementing AI algorithms for navigation, control, and decision-making in UAVs and future hypersonic aircraft.

Leadership Team

Key Executives

• Mikhail Kokorich: Founder and CEO, with a background in aerospace entrepreneurship, previously founded Momentus, a space logistics company.

• Cornelius Borsch: Chief Technology Officer, leading the development of propulsion systems and aircraft design.

• Pedro Duque: Advisor, former European Space Agency astronaut and Spanish Minister of Science, providing strategic guidance.

• Michel Friedling: Advisor, former French Air Force general and head of the French Space Command, contributing defense sector expertise.

• Oleksandr Danylyuk: Senior Vice President of Defense, former Ukrainian Minister of Finance, overseeing defense-related initiatives.

Competitor Profile

Market Insights and Dynamics

The aerospace industry is experiencing significant advancements in hypersonic technology, with increasing investments and research aimed at reducing travel times and enhancing defense capabilities. The global aerospace component market was valued at approximately $300 billion in 2024, indicating substantial growth potential.

Competitor Analysis

• Hermeus: A U.S.-based startup developing hypersonic aircraft for military applications, focusing on achieving Mach 5 speeds.

• Boom Supersonic: A U.S. company aiming to revive supersonic passenger travel with its Overture jet, targeting Mach 2.2 speeds.

• PLD Space: A Spanish aerospace company developing reusable small satellite launch vehicles, contributing to the European space industry.

Strategic Collaborations and Partnerships

• ITP Aero: Partnered to jointly develop a hydrogen engine testbed, supported by the Spanish Ministry of Defence.

• Spanish Government: Secured grants totaling approximately €27 million to advance hydrogen propulsion capabilities and establish testing facilities.

Operational Insights

Destinus's focus on hydrogen propulsion and hypersonic flight positions it competitively within the evolving aerospace and defense landscape.