Space station startup Voyager Technologies about to go public

Starlab design in 2025
The Starlab design in 2025. Click
for original image.

The space station startup Voyager Technologies (formerly Voyager Space) has filed its paperwork for its expected initial public offering (IPO) of stock as it competes for a major contract from NASA to build its Starlab space station.

Voyager filed a preliminary prospectus for its planned initial public offering (IPO) with the U.S. Securities and Exchange Commission May 16. The company previously confidentially filed plans for its IPO with the SEC. The draft prospectus does not yet disclose how many shares the company plans to sell or the amount the company expects to raise in the IPO. It does, though, offer financial details about Voyager.

The company reported $144.2 million in revenue in 2024 and a net loss of $65.6 million, versus $136.1 million in revenue and a net loss of $25.2 million in 2023. The company also reported revenue of $34.5 million in the first quarter of 2025, and a net loss of $27.9 million.

This story actually made me less confident about this company’s plans, with this quote the most revealing:

The company received a funded Space Act Agreement from NASA to support initial design work on the station, currently worth $217.5 million with $70.3 million yet to be paid. … The NASA award covers only initial work on Starlab, and the company will have to compete for a second phase of NASA’s Commercial Low Earth Orbit Development program that will offer additional funding for station development. Voyager revealed in the prospectus that it projects Starlab to cost $2.8 billion to $3.3 billion to develop.

So far it appears Voyager has built nothing. Instead it has used NASA’s preliminary money to do and redo its on-paper design of Starlab (compare the more recent design concept in the image on the right with this older image from 2022), which as a concept is intended to be launched whole on a single Starship launch. No metal has been cut. The company appears to be following the old big space company approach of investing nothing of its own in development.

This does not mean its station will be a failure, but I expect it will not launch as scheduled in 2029 if it wins that major NASA contract. The company will have to build it all in less than three years, something that I doubt it will be able to do.

My present rankings for the four proposed commercial stations:

  • Haven-1, being built by Vast, with no NASA funds. The company is moving fast, with Haven-1 to launch and be occupied in 2026 for an estimated 30 days total. It hopes this actual hardware and manned mission will put it in the lead to win NASA’s phase 2 contract, from which it will build its much larger mult-module Haven-2 station..
  • Axiom, being built by Axiom, has launched three tourist flights to ISS, with a fourth scheduled for early June, carrying passengers from India, Hungary, and Poland. Though there have been rumors it has cash flow issues, development of its first module has been proceeding more or less as planned.
  • Orbital Reef, being built by a consortium led by Blue Origin and Sierra Space. Overall, Blue Origin has built almost nothing, while Sierra Space has successfully tested its inflatable modules, including a full scale version, and appears ready to start building its module for launch.
  • Starlab, being built by a consortium led by Voyager Space, Airbus, and Northrop Grumman, with an extensive partnership agreement with the European Space Agency. It recently had its station design approved by NASA, but it has built nothing, and appears unwilling to cut any metal until it wins NASA’s full contract.

Ed Stone, who ran the Voyager missions for a half century, passes away at 88

Ed Stone, who was the project scientist for both Voyager missions to the outer solar system and beyond for a half century, passed away at 88 on June 9, 2024.

From 1972 until his retirement in 2022, Stone served as the project scientist from NASA’s longest-running mission, Voyager. The two Voyager probes took advantage of a celestial alignment that occurs just once every 176 years to visit Jupiter, Saturn, Uranus, and Neptune. During their journeys, the spacecraft revealed the first active volcanoes beyond Earth on Jupiter’s moon Io, and an atmosphere rich with organic molecules on Saturn’s moon Titan. Voyager 2 remains the only spacecraft to fly by Uranus and Neptune, revealing Uranus’ unusual tipped magnetic poles, and the icy geysers erupting from Neptune’s moon Triton.

Stone was also head of JPL from 1991 to 2001, during the time it built and flew the Mars Pathfinder mission, which sent the first rover to Red Planet. That mission revitalized the entire American Mars exploration program for the next three decades.

Stone was one of the giants of American space exploration during its formative years. He leaves behind a legacy that will be difficult to match, highlighted most of all by both Voyager spacecraft, which outlived him.

Northrop Grumman abandons its own proposed space station; partners with Voyager’s Starlab

Northrop Grumman today officially confirmed rumors from earlier this week: It is abandoning construction of its own proposed space station and will instead join Voyager Space’s Starlab station project, using an upgraded version of its Cygnus freighter to be the station’s cargo ferry.

As part of this new partnership, Northrop will provide cargo services to Starlab for up to five years. The upgrades will allow Cygnus to dock directly to a station port, rather than rendezvous and get berthed using a robot arm. This upgrade will also make Cygnus a more saleable product for providing cargo to other stations as well, as they come on line.

Northrop Grumman was one of four proposed private space stations projects that won NASA contracts, Axiom in 2020 and the other three in December 2021, with its award fixed at $125.6 million, of which $36.6 million has been paid to the company for meeting specific development milestones. NASA is now going to distribute the rest of that award among the remaining projects after some renegotiations.

Space Perspective buys ship to use for launching and recovering its passenger balloons

The high altitude balloon company Space Perspective has now purchased a 292-foot long ship to use as both a launch and recovery vessel for its planned flights of its Neptune capsule carrying tourists to 20-plus miles above the Earth.

Named in honor of the Voyager 1 space probe, the vessel was acquired to allow the company to launch and recover its spacecraft capsule Neptune from anywhere in the world, starting with pre-approved locations near Florida. The company completed its first test flight in June 2021, launching from land near Kennedy Space Center. The capsule splashed down in the Gulf of Mexico roughly seven hours later. On that occasion, the capsule was recovered from the water using a chartered commercial vessel, GO America.

Building on that first recovery, Voyager will have the capability to both launch and recover the spacecraft in an integrated, flexible solution that can also relocate to avoid bad weather — a problem that often plagues traditional rocket launches and marine capsule recovery operations. Space Perspective has previously stated it expects Voyager to be the first in a fleet of marine spaceports globally.

It is now expected that Voyager will begin operations late this year, when Space Perspective begins test flights of Neptune.

The article also notes near the end the growing congestion at Port Canaveral due to the numbers of space-related ships, either already operating or anticipated. It appears a marina for these ships will soon become necessary, as the port does not want them taking up docking space when not in use.

Voyager signs deal with Airbus to build its private space station

Voyager Space, the division of Nanoracks that has a contract with NASA for building one of four private space stations, has now signed a deal with Airbus, which will provide Voyager additional technical support.

It appears this deal is going to give Europe access to at least one of those American stations, once ISS is gone.

“We are proud to partner with Airbus Defence and Space to bring Starlab to life. Our vision is to create the most accessible infrastructure in space to serve the scientific community,” said Dylan Taylor, Chairman and CEO of Voyager Space. “This partnership is unique in that it engages international partners in the Commercial Destinations Free-Flyer program. Working with Airbus we will expand Starlab’s ecosystem to serve the European Space Agency (ESA) and its member state space agencies to continue their microgravity research in LEO.”

Unlike ISS, where profit was not a motive, Voyager has to make money on its Starlab space station. If Europe wants in, it needs to provide Voyager something, and this deal is apparently part of that contribution. I also suspect that high level negotiations occurred within NASA, ESA, and Voyager to make this deal happen so that Europe would continue to have access to at least one of the American stations.

Hilton chosen to design hotel suites on Nanoracks’ Starlab private space station

Nanoracks' Starlab space station
Nanoracks’ Starlab space station

Capitalism in space: Hilton has been chosen to design the hotel suites inside the Starlab private space station that Nanoracks is building and hopes to launch sometime this decade.

Voyager and Hilton will partner in the areas of architecture and design, leveraging Hilton’s word-class creative design and innovation experts, to develop Space Hospitality crew headquarters aboard Starlab, including communal areas, hospitality suites, and sleeping arrangements for the astronauts.

The announcement was made by Voyager Space, the Nanoracks’ division that is building Starlab, and already has a $160 million development contract from NASA.

Virgin Galactic vows to fly again by April

The heat of competition: During a press tour of its Mojave facilities this week Virgin Galactic’s CEO revealed that the company expects to begin flying its replacement to SpaceShipTwo by April.

George Whitesides, the company’s chief executive, said construction of the second spaceship is already 65 per cent complete. Like its doomed predecessor, Enterprise, the new spaceship’s name is a tribute to both Nasa and Star Trek. It will be called SS Voyager, the Sunday Times reports.

Whitesides also said that LauncherOne, designed to put very small payloads into orbit, is 18 months away from its first flight.

I hope this predictions are true, but coming from Virgin Galactic I think I can be forgiven if I am very skeptical. Nonetheless, in referring to the new ship I will make it a policy to call it Voyager from here on out to distinguish it from the first ship.

Comparing the rocket vs balloon space tourism ride.

The competition heats up: Yahoo today published a 5 point comparison between a ride on Virgin Galactic’s SpaceShipTwo and Worldview’s Voyager balloon.

The winner, Virgin Galactic, but by a nose. As the story notes, Worldview is the better buy. “You can use the money you save for a nice vacation on Earth — where you can make new friends by telling stores about that time you went to space.”

NASA has announced a press conference for later today about the Voyager spacecraft.

NASA has announced a press conference for later today about the Voyager spacecraft.

The rumors are that all the scientists involved with this data from this spacecraft now finally agree that Voyager has left the solar system. More to come.

The rumors were true: NASA has confirmed that Voyager 1 is out of the solar system and in interstellar space, and has been since last summer.