Former CEO of SpaceIL, Dr. Eran Privman, Appointed as CEO of NewRocket Start-Up

BEER SHEVA, Israel, October 3, 2018 /PRNewswire/ --

NewRocket, a graduate of the Incubit incubator, announced today that it appointed Dr. Eran Privman as the new CEO of the company. Dr. Privman who up until recently was the CEO of SpaceIL, joined NewRocket in order to realize the company's market opportunities, to complete the development of the new rocket engine technology and to lead the company in penetrating the international satellite market.

The unique combination of features of NewRocket's innovative patent technology dramatically decrease the costs of rocket engines thus presenting a breakthrough in the area of small satellites, now being developed in the New Space market.    

For the past five years Dr. Privman managed SpaceIL, a company that is developing the first Israeli unmanned spacecraft, intended to land on the moon by the beginning of 2019. Among his previous roles he served as CEO of Amdocs Australia, held vice president positions in Amdocs' Billing division and managed the Technology Development division in Partner. Dr, Privman has a Ph.d in computer science specializing in neuroscience. He served as a fighter pilot in the Israeli Air Force and held a variety of system development roles during his military service.    

Dr. Privman commented: "I am proud to join a company with innovative patent technology, a projects backlog and commercial foundations. These attest to the significant potential of the technology and the opportunity for bringing about a breakthrough in rocket engines for small satellites. Based on the capabilities and assets of the company, we plan to soon lead a round of funding in order to accelerate manufacturing and integration of NewRocket's technology in satellites."

Ran Bar Sella, Chairman of NewRocket's Board of Directors and CEO of Incubit , said: "Dr. Eran Privman has the capacity and experience that will enable the company to continue to grow and to realize its vast potential, and we are excited to have him onboard. I am proud of Incubit's ability to assist NewRocket in developing from the seed stage up to a company with a proven technological solution, a coherent business model, concrete business opportunities, commercial foundations and a top notch management. NewRocket's main potential lies in the international commercial space industry and that is where we will continue to focus our efforts. We plan to develop additional commercial agreements and secure additional funding from various sources including, a grant from the Israeli Innovation Authority under the MEIMAD dual use R&D program and a grant from the Israeli Space Agency."

About NewRocket:

Israel-based NewRocket is developing advanced, environmentally friendly rocket engines using innovative gel-propellant technology. The company are working to change conventional engine technology by using materials which are stable, non-toxic and don't sacrifice performance and control.

About Incubit:  

Incubit Ventures is the technological incubator of Elbit Systems, and focuses on deep tech companies that combine a multidisciplinary field of knowledge, complex development processes and technological innovation.

Contact:
Hila Gabay, Senior Account Manager
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SOURCE NewRocket