Two Stellenbosch University (SU) spinout companies – SUN Magnetics and CubeSpace – were recently honoured at the annual University of Stellenbosch Enterprises (USE) CEO event. Both companies originated from the Department of Electrical and Electronic Engineering at SU’s Faculty of Engineering.
SUN Magnetics received the prestigious Deep Tech Award, celebrating the company’s cutting-edge innovations that represent significant global advancements in technology. CEO Prof Coenrad Fourie, a professor in the Department of Electrical & Electronic Engineering, remarked: “Receiving the 2025 Deep Tech Award means a great deal to the team at SUN Magnetics. We are excited to be at the forefront of future technology, particularly in quantum computing system design. We are deeply grateful to Innovus and Stellenbosch University for their active support over the past decade – from our humble beginnings as a lab-based spinout to an internationally active company with global sales and impact.”
CubeSpace received the COO Award, with CEO Mike-Alec Kearney accepting the honour. This award recognises CubeSpace for its exceptional growth and strong financial performance over the past year. Prof Herman Steyn, Professor Emeritus at the Engineering Faculty and a foundational figure in CubeSpace’s development, reflected: “CubeSpace was born out of more than two decades of nanosatellite research in our department. This included contributions from over 40 master’s and PhD students. Between 2011 and 2014, we participated in a European Union satellite project where the first successful CubeSat control system was developed. That very system still forms the core of the technology CubeSpace now markets globally.”
In 2024, CubeSpace secured R47 million in venture capital funding to expand its operations globally, with the University Technology Fund and Savant Venture Fund among its investors. The company has successfully controlled over 300 satellites, including missions for NASA, the European Space Agency, and the UAE Space Agency.
🔗Read more about their achievements and the full list of award winners here: https://innovus.co.za/news/use-celebrates-the-ceos-behind-the-35-spinout-successes/
Photo: Mike-Alec Kearney (far left), CEO of CubeSpace, and Prof Coenrad Fourie (second from left), CEO of SUN Magnetics, pictured with fellow award recipients at the 2025 USE CEO event.
