Mozart – Requiem: Lacrimosa & Amen
An evening pause: A bit of contrast from yesterday’s pause. Performed live 2022 by the Symphony Orchestra & Grand Choir of the Collegium Musicum Berlin, Donka Miteva conducting.
Hat tip Judd Clark.
Tag: commercial
NASA is considering two options for getting Perseverance’s Mars samples to Earth
The previous plan for Mars Sample Return
In a press briefing today, NASA officials announced it is considering two options for getting Perseverance’s Mars samples to Earth sooner and what it hopes will for less money.
In the first option, NASA would use already available and operational rockets to launch a larger rover to Mars, landing using a sky crane similar but larger than the one used successfully by both Curiosity and Perseverance. This rover would also have nuclear power system used by those rovers, as well as an arm similar to theirs, simplifying the design process. Under this option it appears NASA is abandoning the use of a helicopter for retrieval, as had previous been considered.
In the second option, NASA would rely on what administrator Bill Nelson called “the heavy-lifte capability of the commercial sector.” He specifically mentions SpaceX’s Starship/Superheavy and Blue Origin’s New Glenn, but added that they are looking at the capabilities of the entire private sector right now.
In both operations, the retrieval rover would clean on Mars the outside of the cores to prevent them from contaminating Earth with Martian particles. Previously that cleaning process was to take place in space on the way back. They claim this change also simplifies things.
The final decision on which option to choose is now scheduled for 2026. NASA likely wishes to see more progress with getting Starship/Superheavy as well as New Glenn operational before deciding.
Note that at this press conference very little was said about the Mars ascent rocket, presently supposedly being built by Lockheed Martin. This is essentially building a full scale rocket only slightly less powerful that Earth-based rockets by a company that has never done it before. It seems the second option is likely going to include other options and other rocket companies for this task. The lack of mention suggests NASA was uncomfortable with mentioning this possibility.
In general, this project still feels incomplete and poorly thought out. Major components — such as the ascent vehicle — have not been worked out properly. The officials claimed these changes would make it possible to bring the samples back in the ’35-’39 time frame but I don’t believe it. What it does do is guarantee a large cash influx to NASA, something administrator Bill Nelson lobbied for during the conference, for the next decade-plus. And I think that was the real goal.
The previous plan for Mars Sample Return
In a press briefing today, NASA officials announced it is considering two options for getting Perseverance’s Mars samples to Earth sooner and what it hopes will for less money.
In the first option, NASA would use already available and operational rockets to launch a larger rover to Mars, landing using a sky crane similar but larger than the one used successfully by both Curiosity and Perseverance. This rover would also have nuclear power system used by those rovers, as well as an arm similar to theirs, simplifying the design process. Under this option it appears NASA is abandoning the use of a helicopter for retrieval, as had previous been considered.
In the second option, NASA would rely on what administrator Bill Nelson called “the heavy-lifte capability of the commercial sector.” He specifically mentions SpaceX’s Starship/Superheavy and Blue Origin’s New Glenn, but added that they are looking at the capabilities of the entire private sector right now.
In both operations, the retrieval rover would clean on Mars the outside of the cores to prevent them from contaminating Earth with Martian particles. Previously that cleaning process was to take place in space on the way back. They claim this change also simplifies things.
The final decision on which option to choose is now scheduled for 2026. NASA likely wishes to see more progress with getting Starship/Superheavy as well as New Glenn operational before deciding.
Note that at this press conference very little was said about the Mars ascent rocket, presently supposedly being built by Lockheed Martin. This is essentially building a full scale rocket only slightly less powerful that Earth-based rockets by a company that has never done it before. It seems the second option is likely going to include other options and other rocket companies for this task. The lack of mention suggests NASA was uncomfortable with mentioning this possibility.
In general, this project still feels incomplete and poorly thought out. Major components — such as the ascent vehicle — have not been worked out properly. The officials claimed these changes would make it possible to bring the samples back in the ’35-’39 time frame but I don’t believe it. What it does do is guarantee a large cash influx to NASA, something administrator Bill Nelson lobbied for during the conference, for the next decade-plus. And I think that was the real goal.
Toyota invests in rocket startup
In a positive sign that Japan’s rocket industry is beginning to join the private sector, Toyota yesterday announced that it is investing $44 million in the rocket startup Interstellar Technologies.
Interstellar had been more visible about five years ago, and then disappeared. I figured it had died having run out of cash. It appears it is coming back now in Japan.
In a positive sign that Japan’s rocket industry is beginning to join the private sector, Toyota yesterday announced that it is investing $44 million in the rocket startup Interstellar Technologies.
Interstellar had been more visible about five years ago, and then disappeared. I figured it had died having run out of cash. It appears it is coming back now in Japan.
The members of Trump’s NASA transition team
We now have the names of the individuals that are reviewing NASA’s future under the Trump administration:
- Charles Miller: A member of the first Trump administration’s transition team, Miller is a former NASA official who is now the chairman of Lynk, a direct-to-device satellite company that is struggling to go public through a merger with a SPAC backed by baseball star Alex Rodriguez.
- Greg Autry: A longtime advocate for commercial space, Autry is a professor at the University of Central Florida who also worked on the 2016 Trump NASA transition and was nominated to serve as NASA’s CFO, though Congress failed to approve his nomination. He’s signing his emails “DOGE/NASA Transition.”
- Ryan Whitley: A NASA engineer who was detailed to the National Space Council during Trump’s previous term, Whitley last worked on the Artemis HLS program before spending just over a year at ispace, the Japanese lunar company.
- Lorna Finman: A Stanford PhD who worked on the Star Wars program at Raytheon back in the day, Finman’s LinkedIn says she has been advising the Heritage Foundation on space policy since 2023.
- Jim Morhard: The NASA deputy administrator during Trump’s first term, Morhard was a longtime GOP senate staffer.
All appear to have deep roots in either Washington or academic, but all also appear to have deep roots in the conservative side of the political spectrum. Several have even moved from NASA positions to the private sector. That latter fact explains the radical changes at NASA that this team has been considering, including canceling SLS and Orion and re-orienting the entire Artemis program using the private sector. In addition they are considering consolidating several NASA centers as well shrink staffing at NASA headquarters.
We now have the names of the individuals that are reviewing NASA’s future under the Trump administration:
- Charles Miller: A member of the first Trump administration’s transition team, Miller is a former NASA official who is now the chairman of Lynk, a direct-to-device satellite company that is struggling to go public through a merger with a SPAC backed by baseball star Alex Rodriguez.
- Greg Autry: A longtime advocate for commercial space, Autry is a professor at the University of Central Florida who also worked on the 2016 Trump NASA transition and was nominated to serve as NASA’s CFO, though Congress failed to approve his nomination. He’s signing his emails “DOGE/NASA Transition.”
- Ryan Whitley: A NASA engineer who was detailed to the National Space Council during Trump’s previous term, Whitley last worked on the Artemis HLS program before spending just over a year at ispace, the Japanese lunar company.
- Lorna Finman: A Stanford PhD who worked on the Star Wars program at Raytheon back in the day, Finman’s LinkedIn says she has been advising the Heritage Foundation on space policy since 2023.
- Jim Morhard: The NASA deputy administrator during Trump’s first term, Morhard was a longtime GOP senate staffer.
All appear to have deep roots in either Washington or academic, but all also appear to have deep roots in the conservative side of the political spectrum. Several have even moved from NASA positions to the private sector. That latter fact explains the radical changes at NASA that this team has been considering, including canceling SLS and Orion and re-orienting the entire Artemis program using the private sector. In addition they are considering consolidating several NASA centers as well shrink staffing at NASA headquarters.
Sierra Space CEO suddenly announces retirement
The CEO of Sierra Space, Tom Vice, revealed yesterday his decision to retire at the end of 2024, providing no reasons for the decision.
Vice had not previously announced any plans to retire from Sierra Space, where he had been chief executive since mid-2021. When the company issued the statement about his retirement, Vice was still listed on Sierra Space’s website in his roles as chief executive and a member of the company’s board of directors.
Sierra Space said that the chairman of the board of Sierra Space, Fatih Ozmen, would serve as interim chief executive while the company looks for a permanent replacement. He is chief executive and co-owner of Sierra Nevada Corporation (SNC), the company from which Sierra Space was spun out in 2021.
The coming year is going to be critical for Sierra, as it will finally launch Tenacity to ISS after years of delays. Should it fail, the company will face huge hurtles to survive. Maybe Vice, who is 61, decided it was time to actually retire. He also likely didn’t want take on that risk.
Overall Vice’s leadership had been good for Sierra. The company’s work accelerated significantly after it was spun off from Sierra Nevada.
The CEO of Sierra Space, Tom Vice, revealed yesterday his decision to retire at the end of 2024, providing no reasons for the decision.
Vice had not previously announced any plans to retire from Sierra Space, where he had been chief executive since mid-2021. When the company issued the statement about his retirement, Vice was still listed on Sierra Space’s website in his roles as chief executive and a member of the company’s board of directors.
Sierra Space said that the chairman of the board of Sierra Space, Fatih Ozmen, would serve as interim chief executive while the company looks for a permanent replacement. He is chief executive and co-owner of Sierra Nevada Corporation (SNC), the company from which Sierra Space was spun out in 2021.
The coming year is going to be critical for Sierra, as it will finally launch Tenacity to ISS after years of delays. Should it fail, the company will face huge hurtles to survive. Maybe Vice, who is 61, decided it was time to actually retire. He also likely didn’t want take on that risk.
Overall Vice’s leadership had been good for Sierra. The company’s work accelerated significantly after it was spun off from Sierra Nevada.
Chase – Open Up Wide
An evening pause: If you haven’t yet got up from your weekend partying, this will do it. Performed live sometime in the early 1970s.
Hat tip Alec Gimarc.
SpaceX launches 24 more Starlink satellites
SpaceX today completed its second launch in 2025, its Falcon 9 rocket lifting off from Cape Canaveral carrying 24 Starlink satellites.
The first stage completed its seventeenth flight, landing on a drone ship in the Atlantic.
At the moment SpaceX is the only one to complete any launches in 2025, two, though China was supposed to launch its Long March 3B rocket today as well.
I must add that I am very much under the weather today, which explains the limited posting.
SpaceX today completed its second launch in 2025, its Falcon 9 rocket lifting off from Cape Canaveral carrying 24 Starlink satellites.
The first stage completed its seventeenth flight, landing on a drone ship in the Atlantic.
At the moment SpaceX is the only one to complete any launches in 2025, two, though China was supposed to launch its Long March 3B rocket today as well.
I must add that I am very much under the weather today, which explains the limited posting.
Trump administration considering major positive changes at NASA
According to a report two weeks ago by Eric Berger at Ars Technica and reviewed today by Mark Whittington at The Hill, the transition team for the Trump administration is reviewing a number of very major positive changes at NASA. The transition team has set up a five-person committee to review the following:
- canceling the costly Space Launch System rocket and possibly the Orion spacecraft
- Redesigning the entire Artemis program to make it more cost effective
- Set a new goal to put humans on the Moon by 2028
- consolidating three NASA centers into one to reduce overhead
- Reducing the size of NASA headquarters
The first two recommendations would be doing what I have been recommending since 2011. SLS is an over-priced boondoggle that is too cumbersome and expensive. It can never do the job of establishing a lunar base, NASA’s prime goal. The same applies to Orion, which NASA for years touted as an interplanetary spaceship, an utter lie. It is merely an overweight ascent/descent capsule, nothing more.
The third recommendation is mostly for photo op purposes, since it is unlikely a manned landing can occur that quick, especially if the entire Artemis program is redesigned, replacing NASA’s the SLS rocket with SpaceX’s Starship/Superheavy. At the same time, if Trump shuts down the FAA’s red tape, we might be seeing many test flights of this rocket in the next two years, accelerating its development considerably.
The last two recommendations match the only recommendation from my 2017 policy paper, Capitalism in Space [free pdf here] that NASA has not yet embraced. I had recommended NASA reduce its overhead and bureaucracy, since it widely known in the business that its many agencies do relatively little for their cost. The rumored proposal under consideration is to consolidate the Goddard center in Maryland, the Ames center in California with the Marshall center in Alabama, with the new combined center in Alabama.
Getting this done however remains difficult. The centers exist because elected officials want them in their states and congressional districts. Expect strong resistance in Congress.
That the Trump administration is considering it anyway suggests these big changes are coming, regardless. And if so, I say Hallelujah!
According to a report two weeks ago by Eric Berger at Ars Technica and reviewed today by Mark Whittington at The Hill, the transition team for the Trump administration is reviewing a number of very major positive changes at NASA. The transition team has set up a five-person committee to review the following:
- canceling the costly Space Launch System rocket and possibly the Orion spacecraft
- Redesigning the entire Artemis program to make it more cost effective
- Set a new goal to put humans on the Moon by 2028
- consolidating three NASA centers into one to reduce overhead
- Reducing the size of NASA headquarters
The first two recommendations would be doing what I have been recommending since 2011. SLS is an over-priced boondoggle that is too cumbersome and expensive. It can never do the job of establishing a lunar base, NASA’s prime goal. The same applies to Orion, which NASA for years touted as an interplanetary spaceship, an utter lie. It is merely an overweight ascent/descent capsule, nothing more.
The third recommendation is mostly for photo op purposes, since it is unlikely a manned landing can occur that quick, especially if the entire Artemis program is redesigned, replacing NASA’s the SLS rocket with SpaceX’s Starship/Superheavy. At the same time, if Trump shuts down the FAA’s red tape, we might be seeing many test flights of this rocket in the next two years, accelerating its development considerably.
The last two recommendations match the only recommendation from my 2017 policy paper, Capitalism in Space [free pdf here] that NASA has not yet embraced. I had recommended NASA reduce its overhead and bureaucracy, since it widely known in the business that its many agencies do relatively little for their cost. The rumored proposal under consideration is to consolidate the Goddard center in Maryland, the Ames center in California with the Marshall center in Alabama, with the new combined center in Alabama.
Getting this done however remains difficult. The centers exist because elected officials want them in their states and congressional districts. Expect strong resistance in Congress.
That the Trump administration is considering it anyway suggests these big changes are coming, regardless. And if so, I say Hallelujah!
Italy’s military negotiating with SpaceX to use its Starlink constellation for communications
In what would be a five year deal costing $1.56 billion, Italy’s military is presently negotiating with SpaceX to use its Starlink constellation for communications, rather than wait for the European Space Agency’s (ESA) IRIS2 constellation, which is years from launch and likely to experience delays, as do all of ESA’s projects.
By negotiating a five-year deal with SpaceX, Italy may be aiming to bridge the gap until Europe’s IRIS2 system becomes operational. With the ongoing war in Eastern Europe, the country’s Armed Forces likely view secure military communications as an urgent priority. However, critics may argue that the €1.5 billion price tag represents 14.15% of the total IRIS2 budget for just five years of service. For context, Italy is the third-largest contributor to the European Union, with its €18.6 billion contribution in 2023 accounting for roughly 10% of the EU’s total budget.
This story illustrates the good business sense of Elon Musk. He moved to get Starlink in orbit ahead of anyone else, and now is reaping the cash awards because he can provide services while others cannot.
In what would be a five year deal costing $1.56 billion, Italy’s military is presently negotiating with SpaceX to use its Starlink constellation for communications, rather than wait for the European Space Agency’s (ESA) IRIS2 constellation, which is years from launch and likely to experience delays, as do all of ESA’s projects.
By negotiating a five-year deal with SpaceX, Italy may be aiming to bridge the gap until Europe’s IRIS2 system becomes operational. With the ongoing war in Eastern Europe, the country’s Armed Forces likely view secure military communications as an urgent priority. However, critics may argue that the €1.5 billion price tag represents 14.15% of the total IRIS2 budget for just five years of service. For context, Italy is the third-largest contributor to the European Union, with its €18.6 billion contribution in 2023 accounting for roughly 10% of the EU’s total budget.
This story illustrates the good business sense of Elon Musk. He moved to get Starlink in orbit ahead of anyone else, and now is reaping the cash awards because he can provide services while others cannot.
SpaceX successfully completes the first launch in 2025
SpaceX tonight successfully launched a commercial communications satellite for the United Arab Emirates (UAE), its Falcon 9 rocket lifting off from Cape Canaveral in Florida.
The first stage completed its 20th flight, landing on a drone ship in the Atlantic. The two fairings completed their 16th and 19th flights respectively.
As this was the first launch in 2025, SpaceX is the only rocket company or nation on the leader board. This will not last long, as there are a lot of launches coming in the next few weeks, including the first launch attempt of Blue Origin’s New Glenn rocket, the seventh test orbital launch of SpaceX’s Starship/Superheavy, the first launch of China’s Long March 8 rocket, a launch of India’s GSLV rocket, and a number of SpaceX Falcon 9 launches, including one that will send Firefly’s Blue Ghost lunar lander on its way to the Moon.
SpaceX tonight successfully launched a commercial communications satellite for the United Arab Emirates (UAE), its Falcon 9 rocket lifting off from Cape Canaveral in Florida.
The first stage completed its 20th flight, landing on a drone ship in the Atlantic. The two fairings completed their 16th and 19th flights respectively.
As this was the first launch in 2025, SpaceX is the only rocket company or nation on the leader board. This will not last long, as there are a lot of launches coming in the next few weeks, including the first launch attempt of Blue Origin’s New Glenn rocket, the seventh test orbital launch of SpaceX’s Starship/Superheavy, the first launch of China’s Long March 8 rocket, a launch of India’s GSLV rocket, and a number of SpaceX Falcon 9 launches, including one that will send Firefly’s Blue Ghost lunar lander on its way to the Moon.
FAA cancels one of three public meetings on the Starship/Superheavy environmental reassessment
The FAA today announced that it has canceled one of three meetings that it plans to hold in the Brownsville region next week to obtain public feedback on SpaceX’s request to increase its Starship/Superheavy launch rate at Boca Chica to 25 launches per year.
The FAA was scheduled to hold in-person public meetings on January 7th and 9th, 2025. However, due to the designation of January 9, 2025 as a National Day of Mourning to honor the late former President Jimmy Carter, the January 9th meetings are now cancelled.
The meeting schedule is now as follows:
- In-person meeting: Tuesday, January 7, 2025; 1:00 PM–3:00 PM & 5:30 PM–7:30 PM CDT at the Texas Southmost College, Jacob Brown Auditorium, 600 International Boulevard, Brownsville, TX 78520
- Virtual on-line meeting: Monday, January 13, 2025; 5:30 PM–7:30 PM CDT Registration Link here. Dial-in phone number: 888-788-0099 (Toll Free), Webinar ID: 879 9253 6128, Passcode: 900729
As I noted in November when the new environmental reassessment and these meetings were announced, it is practically certain that the fringe anti-Musk activists groups SaveRGV, Sierra Club, the Friends of Wildlife Corridor, and the fake Indian Carrizo/Comecrudo Nation of Texas (which never existed in Texas) are organizing to be there in force, demanding SpaceX’s Boca Chica operations be shut down.
If the rest of the public, which is the vast majority of the Brownsville community, does not show up to counter these fringe activists, it will make it much easier for the bureaucrats who hate Musk at the FAA to take action against SpaceX. It is essential that the business community at least make an appearance, as the arrival of SpaceX has brought billions of dollars and tens of thousands of jobs to Brownsville.
The FAA today announced that it has canceled one of three meetings that it plans to hold in the Brownsville region next week to obtain public feedback on SpaceX’s request to increase its Starship/Superheavy launch rate at Boca Chica to 25 launches per year.
The FAA was scheduled to hold in-person public meetings on January 7th and 9th, 2025. However, due to the designation of January 9, 2025 as a National Day of Mourning to honor the late former President Jimmy Carter, the January 9th meetings are now cancelled.
The meeting schedule is now as follows:
- In-person meeting: Tuesday, January 7, 2025; 1:00 PM–3:00 PM & 5:30 PM–7:30 PM CDT at the Texas Southmost College, Jacob Brown Auditorium, 600 International Boulevard, Brownsville, TX 78520
- Virtual on-line meeting: Monday, January 13, 2025; 5:30 PM–7:30 PM CDT Registration Link here. Dial-in phone number: 888-788-0099 (Toll Free), Webinar ID: 879 9253 6128, Passcode: 900729
As I noted in November when the new environmental reassessment and these meetings were announced, it is practically certain that the fringe anti-Musk activists groups SaveRGV, Sierra Club, the Friends of Wildlife Corridor, and the fake Indian Carrizo/Comecrudo Nation of Texas (which never existed in Texas) are organizing to be there in force, demanding SpaceX’s Boca Chica operations be shut down.
If the rest of the public, which is the vast majority of the Brownsville community, does not show up to counter these fringe activists, it will make it much easier for the bureaucrats who hate Musk at the FAA to take action against SpaceX. It is essential that the business community at least make an appearance, as the arrival of SpaceX has brought billions of dollars and tens of thousands of jobs to Brownsville.
Sergei Prokofiev – Dance of the Knights
India and SpaceX announce their planned launch goals for 2025
We now have predictions from both India and SpaceX on the number of times each will attempt orbital launches in 2025.
In a tweet from India’s space agency ISRO today, the agency announced it plans ten launches in 2025. This count includes one launch of its man-rated Heavy Lift Vehicle-Mark 3 (HLVM3) rocket in March, testing its unmanned Gaganyaan manned capsule, one launch of its slightly smaller LVM3 rocket, four launches of its older GSLV rocket, three of its even smaller PSLV rocket, and one of its smallest new rocket, the SSLV. The last two the Indian government hopes to transfer to the private sector. (Note: The tweet says nine launches, but the graphic shows ten.)
This prediction does not include any additional orbital launches that India’s two private rocket startups, Agnikul and Skyroot, might attempt. Both have said they hope to do their first launches in 2025.
SpaceX meanwhile is hoping to smash its own record in 2024. According to comments made by the company’s CEO Gywnne Shotwell in mid-December (comments that I missed at the time), the company is planning 175 to 180 launches in 2025. This increase will likely come from two sources. First, it is my understanding that the company is adding another drone ship to its recovery fleet, allowing for more Falcon 9 launches. Second, it is probably going to be able to conduct Starship/Superheavy launches much more frequently, because the Trump administration is almost certainly going to eliminate much of the FAA regulatory red tape that has stymied the entire American rocket industry these last four years.
In the coming weeks I expect more nations and companies will announce their intended launch targets for 2025.
We now have predictions from both India and SpaceX on the number of times each will attempt orbital launches in 2025.
In a tweet from India’s space agency ISRO today, the agency announced it plans ten launches in 2025. This count includes one launch of its man-rated Heavy Lift Vehicle-Mark 3 (HLVM3) rocket in March, testing its unmanned Gaganyaan manned capsule, one launch of its slightly smaller LVM3 rocket, four launches of its older GSLV rocket, three of its even smaller PSLV rocket, and one of its smallest new rocket, the SSLV. The last two the Indian government hopes to transfer to the private sector. (Note: The tweet says nine launches, but the graphic shows ten.)
This prediction does not include any additional orbital launches that India’s two private rocket startups, Agnikul and Skyroot, might attempt. Both have said they hope to do their first launches in 2025.
SpaceX meanwhile is hoping to smash its own record in 2024. According to comments made by the company’s CEO Gywnne Shotwell in mid-December (comments that I missed at the time), the company is planning 175 to 180 launches in 2025. This increase will likely come from two sources. First, it is my understanding that the company is adding another drone ship to its recovery fleet, allowing for more Falcon 9 launches. Second, it is probably going to be able to conduct Starship/Superheavy launches much more frequently, because the Trump administration is almost certainly going to eliminate much of the FAA regulatory red tape that has stymied the entire American rocket industry these last four years.
In the coming weeks I expect more nations and companies will announce their intended launch targets for 2025.
The global launch industry in 2024: A year of amazing highs and depressing lows, with the best yet to come
For the past five years the entire global rocket industry has experienced a revolution that has resulted in a rise in global launch numbers unprecedented since the launch of Sputnik in 1957. 2024 was no different, with the total number of successful launches topping 256, two to four times the average number of launches that had occurred yearly prior to 2020.
This success has almost entirely been driven by the arrival of many private rocket companies competing for government and commercial business — led largely by SpaceX — aided by the decision by governments worldwide to get out of the way and let private enterprise do the job. The result has been spectacular, so much so that it now seem possible in the very near future to see humans finally revisiting the Moon and even getting to Mars and the asteroids.
At the same time, 2024 saw some significant signs that this success is not guaranteed, and could vanish in an instant if care is not taken.
The graph below, my annual count of launches world wide, provides the groundwork for these conclusions.
» Read more
A detailed look at SpaceX’s investors and its stock valuations
Link here. The article provides a good review of some of SpaceX’s major investors as well as the recent rounds whereby employees who hold common stock are allowed to sell some shares as a bonus.
Secondary sales like this remain one of the only ways that employees have to sell their shares. Another bit of good news for employees in this sale [in December] was that the $70 per share price was an improvement over the previous tender of $56 when adjusting for the stock split, Bloomberg reported at the time. And Bloomberg also reported last month that the next tender offer may be as high as $108 to $110 apiece.
SpaceX remains a private company however. This is not stock that can be traded on the stock market, but privately issued (under strict rules) to raise money without giving stock-holders rights to operate the company.
Link here. The article provides a good review of some of SpaceX’s major investors as well as the recent rounds whereby employees who hold common stock are allowed to sell some shares as a bonus.
Secondary sales like this remain one of the only ways that employees have to sell their shares. Another bit of good news for employees in this sale [in December] was that the $70 per share price was an improvement over the previous tender of $56 when adjusting for the stock split, Bloomberg reported at the time. And Bloomberg also reported last month that the next tender offer may be as high as $108 to $110 apiece.
SpaceX remains a private company however. This is not stock that can be traded on the stock market, but privately issued (under strict rules) to raise money without giving stock-holders rights to operate the company.
Neil Young – Old Man
Seventh Starship/Superheavy test launch now targeting January 10, 2025
Based on a single word tweet by Elon Musk as well as the FAA’s license approval, it now appears that SpaceX is targeting January 10, 2025 for the seventh Starship/Superheavy test orbital launch.
According to the FAA license, the launch window that day opens at 4 pm (Central), with backup launch opportunities each day through January 15th.
Reading that license is very illuminating. The depth in which the FAA now demands compliance from SpaceX is beyond daunting, and illustrates the mission creep the agency has used to grow its power. Based on a recent Supreme Court ruling, the company likely has grounds to sue and win, correctly claiming that Congress never gave it such power over so many things, and that its regulatory oversight is unconstitutional.
Based on a single word tweet by Elon Musk as well as the FAA’s license approval, it now appears that SpaceX is targeting January 10, 2025 for the seventh Starship/Superheavy test orbital launch.
According to the FAA license, the launch window that day opens at 4 pm (Central), with backup launch opportunities each day through January 15th.
Reading that license is very illuminating. The depth in which the FAA now demands compliance from SpaceX is beyond daunting, and illustrates the mission creep the agency has used to grow its power. Based on a recent Supreme Court ruling, the company likely has grounds to sue and win, correctly claiming that Congress never gave it such power over so many things, and that its regulatory oversight is unconstitutional.
Angelo Kelly & Family – Auld Lang Syne
Space Force starts environmental impact study of SpaceX’s launches at Vandenberg
In mid-December the Space Force initiated a new environmental impact study (EIS), reviewing SpaceX’s request to significantly increasing the number of launches it would do out of Vandenberg, an increase that could climb to as much as a hundred launches per year.
The EIS will examine the environmental impacts from the redevelopment of Space Launch Complex (SLC) 6 for use by SpaceX for Falcon 9 and Falcon Heavy launches. The Space Force awarded SpaceX access to SLC-6, aka “Slick Six,” in 2023 after the final launch of United Launch Alliance’s Delta 4 from the site.
SLC-6 was built in the 1960s for the Air Force’s Manned Orbiting Laboratory program, which was canceled in 1969 before any launches took place. It was later converted to support Space Shuttle launches, but mothballed after the Challenger accident in 1986 before hosting a single launch. ULA took over the site in 2006.
The EIS would also allow SpaceX to conduct up to 100 launches annually between SLC-6 and its existing launch pad at Vandenberg, SLC-4. That includes booster landings at both launch sites as well as droneships downrange.
This is where we are are in the first quarter of the 21st century. Nothing new can be done anywhere without detailed environmental impact statements that take months, sometimes years, to complete, and almost always conclude that the proposed work can proceed without harm. Often however that conclusion can only come if the government and the private sector agree to funnel cash to environmental causes and organizations, if only to shut them up and prevent further lawsuits. (That’s exactly what happened in Boca Chica. Expect the same now in California.)
It must be noted again that we now have almost eight decades of empirical proof in both Florida and California that rocket launches do no significant harm to the environment, and that if anything they act to protect wildlife by creating large undeveloped refuges in the surrounding land. These new impact statements forced on SpaceX in California, in Florida, and in Boca Chica are therefore nothing more than a government power play, done in order to tell everyone who really is boss.
A new boss however takes over the executive branch of the federal government in only a few weeks. I suspect he will not look kindly at these games. Expect some quick changes almost immediately.
In mid-December the Space Force initiated a new environmental impact study (EIS), reviewing SpaceX’s request to significantly increasing the number of launches it would do out of Vandenberg, an increase that could climb to as much as a hundred launches per year.
The EIS will examine the environmental impacts from the redevelopment of Space Launch Complex (SLC) 6 for use by SpaceX for Falcon 9 and Falcon Heavy launches. The Space Force awarded SpaceX access to SLC-6, aka “Slick Six,” in 2023 after the final launch of United Launch Alliance’s Delta 4 from the site.
SLC-6 was built in the 1960s for the Air Force’s Manned Orbiting Laboratory program, which was canceled in 1969 before any launches took place. It was later converted to support Space Shuttle launches, but mothballed after the Challenger accident in 1986 before hosting a single launch. ULA took over the site in 2006.
The EIS would also allow SpaceX to conduct up to 100 launches annually between SLC-6 and its existing launch pad at Vandenberg, SLC-4. That includes booster landings at both launch sites as well as droneships downrange.
This is where we are are in the first quarter of the 21st century. Nothing new can be done anywhere without detailed environmental impact statements that take months, sometimes years, to complete, and almost always conclude that the proposed work can proceed without harm. Often however that conclusion can only come if the government and the private sector agree to funnel cash to environmental causes and organizations, if only to shut them up and prevent further lawsuits. (That’s exactly what happened in Boca Chica. Expect the same now in California.)
It must be noted again that we now have almost eight decades of empirical proof in both Florida and California that rocket launches do no significant harm to the environment, and that if anything they act to protect wildlife by creating large undeveloped refuges in the surrounding land. These new impact statements forced on SpaceX in California, in Florida, and in Boca Chica are therefore nothing more than a government power play, done in order to tell everyone who really is boss.
A new boss however takes over the executive branch of the federal government in only a few weeks. I suspect he will not look kindly at these games. Expect some quick changes almost immediately.
Italian government awards former Ukrainian startup a $1.14 million development loan
A former Ukrainian startup, Kurs Orbital, has won a $1.14 million loan from Italy’s National Agency for Investment Attraction and Business Development (Invitalia) in order to build and sell its module providing rendezvous and docking capabilities for satellites.
Kurs Orbital was founded in 2021 by the former director of Ukraine’s space agency, Volodymyr Usov. After Russia invaded Ukraine in 2022, the company relocated to Turin, Italy. The company is currently developing its ARCap system, a rendezvous and proximity operations module that can be integrated with a wide range of vehicles, including satellites, orbital transfer vehicles, and even cargo or crew spacecraft. Possible applications for the technology include satellite life extension missions, in-orbit servicing, and space debris removal.
On 30 December, the company announced that it had secured a €1.1 million soft loan from Italy’s National Agency for Investment Attraction and Business Development (Invitalia). A soft loan provides the borrower with more favourable terms than traditional lenders typically offer. The loan was awarded through the agency’s Smart&Start programme, which focuses on supporting the growth of innovative startups by providing financing of between €100,000 and €1.5 million.
The Kurs rendezvous and docking system was first developed in the Ukraine for the Soviet-era space stations. When the Soviet Union broke up it continued to sell them to Roscosmos, but over time the Putin government increasingly worked to block these deals as it tried (and generally failed) to develop the capabilities within Russia. The Ukrainian companies then began marketing their products, with some success, in the west. Following Russia’s 2022 invasion of the Ukraine those companies have either died, or done what Kurs Orbital did, move to the west.
While this story might resemble the actions of the Chinese government as described in my previous post, there is one very fundamental difference. In Italy the law protects the property rights of this company. The Italian government might provide it loans and assistance, like the Chinese, but it does not have the power or right to take it over, at its whim, as the Chinese communists can.
The story also illustrates the foolishness of Russia’s power-hungry policies. It not only has wasted its youth and industry on a useless war, it has driven away companies and technology that formerly gave it capabilities it now lacks.
A former Ukrainian startup, Kurs Orbital, has won a $1.14 million loan from Italy’s National Agency for Investment Attraction and Business Development (Invitalia) in order to build and sell its module providing rendezvous and docking capabilities for satellites.
Kurs Orbital was founded in 2021 by the former director of Ukraine’s space agency, Volodymyr Usov. After Russia invaded Ukraine in 2022, the company relocated to Turin, Italy. The company is currently developing its ARCap system, a rendezvous and proximity operations module that can be integrated with a wide range of vehicles, including satellites, orbital transfer vehicles, and even cargo or crew spacecraft. Possible applications for the technology include satellite life extension missions, in-orbit servicing, and space debris removal.
On 30 December, the company announced that it had secured a €1.1 million soft loan from Italy’s National Agency for Investment Attraction and Business Development (Invitalia). A soft loan provides the borrower with more favourable terms than traditional lenders typically offer. The loan was awarded through the agency’s Smart&Start programme, which focuses on supporting the growth of innovative startups by providing financing of between €100,000 and €1.5 million.
The Kurs rendezvous and docking system was first developed in the Ukraine for the Soviet-era space stations. When the Soviet Union broke up it continued to sell them to Roscosmos, but over time the Putin government increasingly worked to block these deals as it tried (and generally failed) to develop the capabilities within Russia. The Ukrainian companies then began marketing their products, with some success, in the west. Following Russia’s 2022 invasion of the Ukraine those companies have either died, or done what Kurs Orbital did, move to the west.
While this story might resemble the actions of the Chinese government as described in my previous post, there is one very fundamental difference. In Italy the law protects the property rights of this company. The Italian government might provide it loans and assistance, like the Chinese, but it does not have the power or right to take it over, at its whim, as the Chinese communists can.
The story also illustrates the foolishness of Russia’s power-hungry policies. It not only has wasted its youth and industry on a useless war, it has driven away companies and technology that formerly gave it capabilities it now lacks.
SpaceX launches another set of Starlink satellites
SpaceX tonight completed its last launch of 2024, successfully placing 21 Starlink satellites into orbit, including 13 with direct-to-cell capabilities, its Falcon 9 rocket lifting off from Kennedy in Florida.
The first stage completed its sixteenth flight, landing successfully on a drone ship in the Atlantic.
Though there is always a chance that China will fly one more unannounced mission in the next day, it looks like the numbers below will be the final totals in the leader board for the 2024 launch race:
137 SpaceX
65 China
17 Russia
14 Rocket Lab
American private enterprise now leads the rest of the world combined in successful launches 157 to 98, while SpaceX by itself leads the entire world, including American companies, 137 to 118.
My full annual global launch report, showing the full set of launches in 2024, will be posted later this week.
SpaceX tonight completed its last launch of 2024, successfully placing 21 Starlink satellites into orbit, including 13 with direct-to-cell capabilities, its Falcon 9 rocket lifting off from Kennedy in Florida.
The first stage completed its sixteenth flight, landing successfully on a drone ship in the Atlantic.
Though there is always a chance that China will fly one more unannounced mission in the next day, it looks like the numbers below will be the final totals in the leader board for the 2024 launch race:
137 SpaceX
65 China
17 Russia
14 Rocket Lab
American private enterprise now leads the rest of the world combined in successful launches 157 to 98, while SpaceX by itself leads the entire world, including American companies, 137 to 118.
My full annual global launch report, showing the full set of launches in 2024, will be posted later this week.
Toronto Bach Festival Orchestra – So sheep may safely graze
An evening pause: A song for the coming new year by J.S. Bach. The words speak strongly to the leadership we choose, but they also speak strongly to us, for the choices we make. Our leaders can be bad or good, but either way the fault in the end in our Constitutional government lies with us, not them.
India gets nine bids involving 30 companies on proposal to build satellite constellation
Capitalism in space: India’s space agency in charge of promoting commercial space, In-Space, has received nine different bids involving 30 Indian companies on its proposal that an Earth observation satellite constellation be built by a private company, not by the country’s space agency ISRO.
The regulator had sought “expressions of interest” (EoI) in July to build home-grown satellite constellations as part of a broader strategy to monetize the sector and ensure data sovereignty.
India is doubling down on its small satellite and data services market to carve out a leading role in the global commercialization of space. The market for such services, increasingly key for industries ranging from telecoms to climate monitoring, is projected to reach $45 billion by 2030.
The applicants for IN-SPACe’s latest effort in this regard include startups such as Google-backed Pixxel and Baring Private Equity-backed SatSure, as well as larger entities like Tata Group’s Tata Advanced Systems. The companies did not immediately respond to requests for comment.
This is all part of the Modi government’s effort to shift from a government-run space program, controlled by ISRO, to the capitalist model where private companies compete for business and there is no “program” at all, at least not one that controls everything. The government becomes nothing more than one of many customers, buying services and products from the private sector to achieve its “program”. The companies in that sector then follow their own goals, and profit and innovation dictate who succeeds best. The result under this freedom model is always more development faster for less cost.
Hat tip to BtB’s stringer Jay.
Capitalism in space: India’s space agency in charge of promoting commercial space, In-Space, has received nine different bids involving 30 Indian companies on its proposal that an Earth observation satellite constellation be built by a private company, not by the country’s space agency ISRO.
The regulator had sought “expressions of interest” (EoI) in July to build home-grown satellite constellations as part of a broader strategy to monetize the sector and ensure data sovereignty.
India is doubling down on its small satellite and data services market to carve out a leading role in the global commercialization of space. The market for such services, increasingly key for industries ranging from telecoms to climate monitoring, is projected to reach $45 billion by 2030.
The applicants for IN-SPACe’s latest effort in this regard include startups such as Google-backed Pixxel and Baring Private Equity-backed SatSure, as well as larger entities like Tata Group’s Tata Advanced Systems. The companies did not immediately respond to requests for comment.
This is all part of the Modi government’s effort to shift from a government-run space program, controlled by ISRO, to the capitalist model where private companies compete for business and there is no “program” at all, at least not one that controls everything. The government becomes nothing more than one of many customers, buying services and products from the private sector to achieve its “program”. The companies in that sector then follow their own goals, and profit and innovation dictate who succeeds best. The result under this freedom model is always more development faster for less cost.
Hat tip to BtB’s stringer Jay.
ESA approves a slightly smaller preliminary budget for 2025
The council running the European Space Agency (ESA) has now approved a preliminary budget for 2025 of $8 billion, a very slight reduction from the 2024 budget.
According to [ESA’s director general Josef] Aschbacher, the budget includes €4.8 billion in contributions from ESA member states, approximately €1.7 billion from the European Union, and €1.2 billion from “some other sources.” A more detailed breakdown of the 2025 ESA budget will be released during the DG’s annual press briefing, which is expected to occur on 9 January 2025.
It is also expected that the final budget will be higher once the legislatures of ESA’s numerous member states approve their contributions to the agency. Right now German, France, and Italy are the largest contributors. All three governments have in the past two years clearly signaled their determination to support commercial space. This should translate into support for ESA, though the two are becoming increasingly separated. Those nations could also decide there is no reason to give cash to this bureaucracy, and instead use it to directly fund their new private rocket startups.
The council running the European Space Agency (ESA) has now approved a preliminary budget for 2025 of $8 billion, a very slight reduction from the 2024 budget.
According to [ESA’s director general Josef] Aschbacher, the budget includes €4.8 billion in contributions from ESA member states, approximately €1.7 billion from the European Union, and €1.2 billion from “some other sources.” A more detailed breakdown of the 2025 ESA budget will be released during the DG’s annual press briefing, which is expected to occur on 9 January 2025.
It is also expected that the final budget will be higher once the legislatures of ESA’s numerous member states approve their contributions to the agency. Right now German, France, and Italy are the largest contributors. All three governments have in the past two years clearly signaled their determination to support commercial space. This should translate into support for ESA, though the two are becoming increasingly separated. Those nations could also decide there is no reason to give cash to this bureaucracy, and instead use it to directly fund their new private rocket startups.
SpaceX completes two launches tonight from opposite coasts
SpaceX tonight successfully completed two launches. First it placed 20 Starlink satellites into orbit (including 13 configured for direct-to-cell capabilities), its Falcon 9 rocket lifting off from Vandenberg in California. The first stage completed its sixteenth flight, landing on a drone ship in the Pacific.
Next SpaceX successfully launched four satellites for the smallsat startup Astranis, its Falcon 9 rocket lifting off from Cape Canaveral in Florida. The first stage completed its seventh flight, landing on a drone ship in the Atlantic, while the two fairing halves completed their 12th and 22nd flights.
Astranis had previously launched one demonstration satellite, proving that its smallsat design could do the work in geosynchronous orbit traditionally done by much larger and more expensive satellites. The four satellites on this launch are its first attempt to provide commercial service. If successful it places this American company in a good position to grab the market share from the older geosynchronous companies like Intelsat, SES, and Eutelsat.
The leaders in the 2024 launch race:
136 SpaceX
65 China
17 Russia
14 Rocket Lab
American private enterprise now leads the rest of the world combined in successful launches 156 to 97, while SpaceX by itself leads the entire world, including American companies, 136 to 117.
SpaceX tonight successfully completed two launches. First it placed 20 Starlink satellites into orbit (including 13 configured for direct-to-cell capabilities), its Falcon 9 rocket lifting off from Vandenberg in California. The first stage completed its sixteenth flight, landing on a drone ship in the Pacific.
Next SpaceX successfully launched four satellites for the smallsat startup Astranis, its Falcon 9 rocket lifting off from Cape Canaveral in Florida. The first stage completed its seventh flight, landing on a drone ship in the Atlantic, while the two fairing halves completed their 12th and 22nd flights.
Astranis had previously launched one demonstration satellite, proving that its smallsat design could do the work in geosynchronous orbit traditionally done by much larger and more expensive satellites. The four satellites on this launch are its first attempt to provide commercial service. If successful it places this American company in a good position to grab the market share from the older geosynchronous companies like Intelsat, SES, and Eutelsat.
The leaders in the 2024 launch race:
136 SpaceX
65 China
17 Russia
14 Rocket Lab
American private enterprise now leads the rest of the world combined in successful launches 156 to 97, while SpaceX by itself leads the entire world, including American companies, 136 to 117.
Roscosmos buys Earth observation data from private Russian satellite company
According to a report today by Russia’s state-run news agency TASS, Roscosmos has awarded a commercial contract to a private Russian satellite company, dubbed Sputnix, to purchase earth observation data its satellites have already collected.
“In 2024, up to 1.4 billion rubles [around $14.285 million] were allocated in budget funds to conclude forward contracts with private companies on buying out Earth’s remote sensing data obtained from their satellites and created under the federal project ‘Developing the Advanced Space Systems and Services High-Tech Sector.’ The first contract on buying out data has been concluded with the Sputnix Group of Companies,” Roscosmos said in a statement.
The Sputnix Group confirmed to TASS that the contract had been signed.
“Under the contract, the data already loaded into the database were bought out. We hope that next year we will be able to sign a forward contract as part of implementing the roadmap for the ‘Advanced Space Systems and Services’ project,” the company said, emphasizing that cooperation with Roscosmos remained a priority for Sputnix.
Sputnix was founded in 2011, and has so far launched 20 satellites into orbit, though many were short-lived cubesats. While on the surface this company appears real, it is not unlike the pseudo-companies in China. Its contracts appear to be almost all with the Russian government, all its work appears supervised by that government, and at any moment the Russian government can take it over, as it essentially did with the effort of the so-called private rocket startup S7 to launch from the Sea Launch ocean platform.
In other words, this news piece is simply the Russian government’s attempt to convince the world and its own people that there is a competitive and independent private sector in Russia, when in reality it doesn’t exist.
According to a report today by Russia’s state-run news agency TASS, Roscosmos has awarded a commercial contract to a private Russian satellite company, dubbed Sputnix, to purchase earth observation data its satellites have already collected.
“In 2024, up to 1.4 billion rubles [around $14.285 million] were allocated in budget funds to conclude forward contracts with private companies on buying out Earth’s remote sensing data obtained from their satellites and created under the federal project ‘Developing the Advanced Space Systems and Services High-Tech Sector.’ The first contract on buying out data has been concluded with the Sputnix Group of Companies,” Roscosmos said in a statement.
The Sputnix Group confirmed to TASS that the contract had been signed.
“Under the contract, the data already loaded into the database were bought out. We hope that next year we will be able to sign a forward contract as part of implementing the roadmap for the ‘Advanced Space Systems and Services’ project,” the company said, emphasizing that cooperation with Roscosmos remained a priority for Sputnix.
Sputnix was founded in 2011, and has so far launched 20 satellites into orbit, though many were short-lived cubesats. While on the surface this company appears real, it is not unlike the pseudo-companies in China. Its contracts appear to be almost all with the Russian government, all its work appears supervised by that government, and at any moment the Russian government can take it over, as it essentially did with the effort of the so-called private rocket startup S7 to launch from the Sea Launch ocean platform.
In other words, this news piece is simply the Russian government’s attempt to convince the world and its own people that there is a competitive and independent private sector in Russia, when in reality it doesn’t exist.
Blue Origin completes first full dress rehearsal countdown and static fire test of New Glenn
Blue Origin today successfully completed the first full dress rehearsal countdown and static fire test of its New Glenn orbital rocket at its launchpad at Cape Canaveral.
The tanking test included a full run-through of the terminal count sequence, testing the hand-off authority to and from the flight computer, and collecting fluid validation data. The first stage (GS1) tanks were filled and pressed with liquefied natural gas (LNG) and liquid oxygen (LOX), and the second stage (GS2) with liquid hydrogen and liquid oxygen–both to representative NG-1 set points.
The formal NG-1 Wet Dress Rehearsal demonstrated the final launch procedures leading into the hotfire engine run. All seven engines performed nominally, firing for 24 seconds, including at 100% thrust for 13 seconds. The test also demonstrated New Glenn’s autogenous pressurization system, which self-generates gases to pressurize GS1’s propellant tanks.
According to the company, the test achieved all its engineering goals, apparently making it ready for its targeted January 6, 2025 launch date. Beforehand however it will be rolled back into the assembly building so that its payload, Blue Origin’s Blue Ring orbital tug, can be stacked inside the fairings to fly a demo mission for the military.
Blue Origin today successfully completed the first full dress rehearsal countdown and static fire test of its New Glenn orbital rocket at its launchpad at Cape Canaveral.
The tanking test included a full run-through of the terminal count sequence, testing the hand-off authority to and from the flight computer, and collecting fluid validation data. The first stage (GS1) tanks were filled and pressed with liquefied natural gas (LNG) and liquid oxygen (LOX), and the second stage (GS2) with liquid hydrogen and liquid oxygen–both to representative NG-1 set points.
The formal NG-1 Wet Dress Rehearsal demonstrated the final launch procedures leading into the hotfire engine run. All seven engines performed nominally, firing for 24 seconds, including at 100% thrust for 13 seconds. The test also demonstrated New Glenn’s autogenous pressurization system, which self-generates gases to pressurize GS1’s propellant tanks.
According to the company, the test achieved all its engineering goals, apparently making it ready for its targeted January 6, 2025 launch date. Beforehand however it will be rolled back into the assembly building so that its payload, Blue Origin’s Blue Ring orbital tug, can be stacked inside the fairings to fly a demo mission for the military.
Adam Sandler: The Hanukkah Song III
An evening pause: As we are in the middle of Hanukkah, and it is also Friday, here’s a hilarious send-off for the weekend, celebrating the holiday and the Jewish impact on American culture. Performed live 2002 on Saturday Night Live.
Blue Origin finally gets FAA license to launch New Glenn, now targeting January 6, 2025
The first completely assembled New Glenn,
on the launchpad
The FAA, after months of apparent delays, today finally issued Blue Origin a license to launch its New Glenn rocket for a period covering the next five years.
As has now become the FAA’s custom, in issuing this license it also brags about its success in issuing the license “well in advance of the statutory deadline” for doing so.
What a crock. Blue Origin and NASA were originally targeting an October launch of New Glenn carrying two Mars orbiters, but had to cancel when the rocket couldn’t lift off during the six-day launch window. Though delays at Blue Origin certainly contributed to this cancellation, I suspect the FAA’s red tape played a major factor as well.
According to another source, Blue Origin is now targeting a launch date of January 6, 2025. The company is presently doing a static fire test on the launchpad.
Hat tip to BtB’s stringer Jay.
The first completely assembled New Glenn,
on the launchpad
The FAA, after months of apparent delays, today finally issued Blue Origin a license to launch its New Glenn rocket for a period covering the next five years.
As has now become the FAA’s custom, in issuing this license it also brags about its success in issuing the license “well in advance of the statutory deadline” for doing so.
What a crock. Blue Origin and NASA were originally targeting an October launch of New Glenn carrying two Mars orbiters, but had to cancel when the rocket couldn’t lift off during the six-day launch window. Though delays at Blue Origin certainly contributed to this cancellation, I suspect the FAA’s red tape played a major factor as well.
According to another source, Blue Origin is now targeting a launch date of January 6, 2025. The company is presently doing a static fire test on the launchpad.
Hat tip to BtB’s stringer Jay.
Eutelsat-OneWeb stock plummets
Despite its merger with Eutelsat in 2023, the stock value of the combined Eutelsat-OneWeb satellite company has plummeted in the past year, more than halving the value of the OneWeb portion that was saved from bankruptcy by both the government of the United Kingdom and investors from India in 2020.
The collapse means the UK’s investment is worth €133m (£110m), representing a near £300m paper loss for the taxpayer. … However, while the all-share deal implied a value of €12 per share, Eutelsat’s stock has since imploded. In the past 12 months, it has halved and is trading at record lows of €2.58.
Eutelsat was facing its own collapse before the merger, as its business was geosynchronous communications satellites which are now losing their business to the low-Earth orbit constellations such as SpaceX’s Starlab and OneWeb’s. The merger was the company’s attempt to join this new market.
OneWeb however has had its own repeated problems completing that its constellation, and faced bankruptcy in 2020 because of delays from the COVID panic as well as delays in launching the Ariane-6 rocket. Then Russia’s invasion of the Ukraine in 2022 meant it lost all its remaining planned launches, forcing it to scramble to find other launch providers.
Stock market analysts don’t expect the combined company to begin earning profits for at least the next three to five years, which casts an even greater pall on its future.
Despite its merger with Eutelsat in 2023, the stock value of the combined Eutelsat-OneWeb satellite company has plummeted in the past year, more than halving the value of the OneWeb portion that was saved from bankruptcy by both the government of the United Kingdom and investors from India in 2020.
The collapse means the UK’s investment is worth €133m (£110m), representing a near £300m paper loss for the taxpayer. … However, while the all-share deal implied a value of €12 per share, Eutelsat’s stock has since imploded. In the past 12 months, it has halved and is trading at record lows of €2.58.
Eutelsat was facing its own collapse before the merger, as its business was geosynchronous communications satellites which are now losing their business to the low-Earth orbit constellations such as SpaceX’s Starlab and OneWeb’s. The merger was the company’s attempt to join this new market.
OneWeb however has had its own repeated problems completing that its constellation, and faced bankruptcy in 2020 because of delays from the COVID panic as well as delays in launching the Ariane-6 rocket. Then Russia’s invasion of the Ukraine in 2022 meant it lost all its remaining planned launches, forcing it to scramble to find other launch providers.
Stock market analysts don’t expect the combined company to begin earning profits for at least the next three to five years, which casts an even greater pall on its future.