ANA HOLDINGS' "ANA Future Frontier Fund"
Invests in Dawn Aerospace,
a Startup Building a Reusable Space Transportation Network
TOKYO, June 17, 2026 - ANA HOLDINGS INC. (ANA HD), through its corporate venture capital fund, "ANA Future Frontier Fund L.P.," today announced its investment in DAWN AEROSPACE LIMITED (Headquarters: New Zealand; "Dawn Aerospace"), a startup building a reusable space transportation network.
Dawn Aerospace is a startup aiming to realize sustainable and scalable space transportation that connects the economies of Earth and space. The company has already commercialized green satellite propulsion systems that offer advantages in safety, performance, and cost, and has built a track record of operations on over 50 satellites. Building on this heritage, is "Loop", Dawn's in-orbit refueling service, debuting its refueling demo in 2028 and paving the way to truly refuellable satellite propulsion.
Dawn Aerospace is also developing "Aurora", a spaceplane that combines rocket performance with aircraft-like reusability, and has already achieved supersonic flight planning to fly to space twice in a day in 2027.
The ANA Group has been building new businesses in the space domain under the banner "Next stop, space" As part of these efforts, All Nippon Airways Trading Co., Ltd., that serves the aerospace trading-company function for ANA Group, signed a memorandum of understanding with Dawn Aerospace in 2025 and is working to bring space demonstration services to the Japanese market using the company's supersonic spaceplane.
Through this investment, ANA HD will bring together the strengths of the ANA Group and Dawn Aerospace to help build a sustainable foundation for mobility in space and drive the creation of new value in the space business domain.
Comment from Stefan Powell, CEO of Dawn Aerospace
"We're proud to welcome the ANA Future Frontier Fund as investors in Dawn Aerospace," said Stefan Powell, CEO of Dawn Aerospace. "Their investment reflects confidence in both our technical capability and our vision for scalable, reusable space transportation. Their expertise and experience will be a valuable asset to Dawn's growth, and we look forward to building a strong relationship together."
Comment from Yoshiaki Tsuda, Executive Vice President, Director of Future Creation of ANA HD
"We decided to make this investment because we highly value Dawn Aerospace's exceptional technological capabilities and execution, and because we strongly share its vision of building a sustainable space transportation network. By leveraging ANA's long-standing expertise in aviation operations, together with ANA Trading's functions and network as an aerospace trading company, we will fully support Dawn Aerospace's business expansion in Japan and across Asia. We are excited about the prospect of new services enabled by Dawn Aerospace's reusable suborbital spaceplanes and refuellable satellite propulsion technologies, which could help expand access to space and make it more seamless in the near future."
About Dawn Aerospace
| Company Name | DAWN AEROSPACE LIMITED |
| Location | Christchurch, New Zealand |
| Representative | Stefan Powell |
| Founded | October 2017 |
| Business | Development and provision of green satellite propulsion systems, reusable spaceplanes, and in-orbit refueling services |
| URL | https://www.dawnaerospace.com |
About ANA Future Frontier Fund
| Name | ANA Future Frontier Fund L.P. |
| Established | April 2024 |
| Fund Size | JPY 8 billion |
| Fund Term | 10 years |
| Main Investment Areas | Areas expected to accelerate the creation of new businesses and strengthen non-airline-related businesses to capture new revenue opportunities, improve profitability in the airline business, and enhance customer experience value. Examples: next-generation mobility (air mobility, MaaS platforms, Universal MaaS, drones, space, etc.); customer-base-utilization businesses (inbound tourism, fintech, marketing, e-commerce, insurance, real estate, etc.); carbon neutrality-related areas (SAF and other fuels, DAC and other negative emission technologies, green energy, carbon offsets, etc.); aviation services and operations (robotics, AI, autonomous driving technologies, etc.); and other areas. |
| General Partner | Global Brain Corporation |
| Limited Partner | ANA HOLDINGS INC. |
| URL | https://www.anahd-cvc.com/en |
Contact: ANA Corporate Communications, TEL +81-3-6735-1111, publicrelations@ana.co.jp
About ANA HOLDINGS Inc.
Established in 2013, ANA HOLDINGS Inc. (ANA HD) is the largest airline group holding company in Japan, comprising 72 companies.
The group includes full-service carrier All Nippon Airways (ANA) and Peach Aviation Limited, the leading low-cost carrier in Japan.
ANA HD oversees a diverse portfolio of businesses centered on air transportation, including passenger and cargo operations and companies that support the broader aviation industry. Through its group companies, ANA HD is focused on delivering safe, high-quality air travel, advancing sustainable growth and maintaining operational excellence.
The group's commitment to superior service is reflected in ANA's SKYTRAX 5-Star rating, awarded annually since 2013, making it the only Japanese airline to earn this prestigious designation for 13 consecutive years.
ANA HD has been recognized by Fortune as one of the World's Most Admired Companies. The group has also been included in the Dow Jones Best-in-Class World Index for nine consecutive years and the Dow Jones Best-in-Class Asia Pacific Index for ten consecutive years, reflecting its commitment to responsible business practices.
For more information about ANA and ANA HD, please visit: https://www.ana.co.jp/group/en/
