Pascal Jaussi, 40, who heads Swiss Space Systems (S3), was beaten up and set on fire by two unknown perpetrators on August 26th in a forest in the canton of Fribourg, reported the Tribune de Genève on Monday.
News of the attack was not released until his condition improved, said the paper. The CEO's life is now out of danger but he remains in a serious condition in hospital, it said.
The entrepreneur was found near his vehicle and transported to Lausanne's CHUV hospital with burns on 25 percent of his body.
According to the paper's sources, Jaussi was forced to drive his car into a forest, where he was doused in petrol and set on fire. He managed to get himself out of the vehicle and call a friend, who alerted emergency services.
Fribourg police confirmed to the paper they were investigating the case.
According to the Tribune Jaussi had been in touch with police in recent months after receiving threats related to his work at the company.
A leader in space technology, S3 aims to make space more accessible by creating low-cost, reusable satellite launchers, a development not welcomed by all in the industry.
Last year the company's base in Payerne was broken into and equipment damaged, said the Tribune.