Vast’s full Haven-2 station once completed

The space station startup Vast today announced it has raised another $500 million in new private investment capital, bringing the total so far invested in the company’s space station project to more than one billion.

The financing round was led by Balerion Space Ventures with participation from IQT, Qatar Investment Authority (QIA), Mitsui & Co., Ltd, MUFG, Nikon Corporation (Nikon), Stellar Ventures, Space Capital, and Earthrise Ventures. Jed McCaleb, founder and first investor, also participated in the round. As part of the transaction, Balerion Advisor A.C. Charania, former Chief Technologist for NASA, will join the Vast board.

…To date, more than $1 billion has been invested in Vast’s space stations technologies and facilities—resources that NASA and government partners can leverage to ensure readiness to replace the ISS in 2030. The latest financing includes $300 million in Series A equity and $200 million in debt to support the continued development of Vast’s Haven space stations. The funds will be used to expand facilities, grow the team, and advance the company’s proposed successor to the ISS, Haven-2, designed to ensure continuous human presence in low-Earth orbit for the United States and its allies.

Hat tip to reader Richard M for letting me know about this announcement.

In my rankings below of the five American commercial space stations presently in development, I rank Vast #1. This new investment helps solidify its first place standing.

• Haven-1 and Haven-2, being built by Vast, with no NASA funds. The company plans to launch its single module Haven-1 demo station in 2027 for a three-year period during which it will be occupied by at least four 2-week-long manned missions. It also plans a manned mission to ISS in ’28. The company is already testing an unmanned small demo module in orbit. It has also made preliminary deals with Colombia, Uzbekistan, Japan, and the Maldives for possible astronaut flights to Haven-1. It has also raised more than a billion in cash for this work.
• Axiom, being built by Axiom, has launched four tourist flights to ISS, with the fourth carrying government passengers from India, Hungary, and Poland. A fifth mission is now planned for ’27. The company has now raised $450 million in private investment capital. The development of its first two modules has been proceeding, though the first module launch is now delayed until 2028. It has also signed Redwire to build that module’s solar panels.
• Starlab, being built by a consortium led by Voyager Space, Airbus, and Northrop Grumman, with extensive partnership agreements with the European Space Agency, Mitsubishi, and others. Though no construction has yet begun on its NASA-approved design, it has raised $383 million in a public stock offering, the $217.5 million provided by NASA, and an unstated amount from private capital. It has also begun signing up station customers, as well as a number of companies to build the station’s hardware.
• Thunderbird, proposed by the startup Max Space. It is building a smaller demo test station to launch in ’27 on a Falcon 9 rocket, and has begun work on its manufacturing facility at Kennedy in Florida. Its management includes one former NASA astronaut and one former member of the Bigelow space station team that built the first private orbiting inflatable modules, Genesis-1, Genesis-2, and BEAM (still operating on ISS).
• Orbital Reef, being built by a consortium led by Blue Origin and Sierra Space. This station looks increasingly dead in the water. Blue Origin has built almost nothing, as seems normal for this company. And while Sierra Space has successfully tested its inflatable modules, including a full scale version, its reputation is soured by its failure in getting its Dream Chaser cargo mini-shuttle launched to ISS.