SpaceX now one of the world’s most valuable companies

Data from a new round of investment capital fundraising says that SpaceX is now valued at $21 billion, placing it among the only six venture-backed companies worth more than $20 billion.

The article also notes that this new valuation is up from the $12 billion listed only two years ago.

Update: As noted by my readers, I have revised the post to note that this story refers not to all companies but to those that obtained their financing privately.

Breakthrough Starshot puts smallest satellites ever into orbit

Breakthrough Starshot, the privately funded $100 million effort to launch a probe to the nearest star, has put into orbit the world’s smallest satellites ever.

The six prototypes, dubbed Sprites, weigh only 4 grams and contain solar panels, computers, sensors, and radios on a surface equal to that of a U.S. postage stamp. Developed by researchers at Cornell University and transported into space as secondary payloads on a rocket built by the Europe-based company OHB System AG, the nanosatellites are being tested for electronics and communication performance in orbit.

The significance here is not so much that this advances the project’s interstellar mission, but that this technology is becoming more likely for use on both commercial and planetary spacecraft.

Commercial lunar mission gives launch contract to ULA

Capitalism in space: Astrobotic, a private company planning to put a lander on the Moon by 2019, has awarded its launch contract to ULA.

This initial Peregrine lunar lander will fly 77 pounds (35 kilograms) of customer payloads from six nations either above or below the spacecraft’s deck, depending on specific needs. The autonomous landing will use cameras, guidance computing and five Aerojet Rocketdyne-made hypergolic engines to set the lander down on four shock-absorbing legs.

It will stand 6 feet tall (1.8 meters) and have a diameter of 8 feet (2.5 meters).Subsequent missions envision scaling up to payload masses of 585 pounds (265 kilograms). Markets range from scientific instruments to placing mementos on the Moon.

This company had been competing for the Google Lunar X-Prize, but pulled out of the competition when it realized it couldn’t launch by the end of 2018. It continued development, however, and apparently has gathered enough customers to pay for its launch in 2019.

The damage and repair of TDRS-M creates complicated scheduling problems

Because of the launch delay caused by the accident that damaged the antenna of NASA’s TDRS-M communication satellite, requiring its replacement, the agency is now faced with a cascading series of scheduling problems.

They are now aiming for an August 10 launch of TDRS-M on a ULA Atlas 5. This will then force a delay in the August 12 launch of a Dragon capsule to ISS to August 14, which can’t be delayed past August 16 because of a scheduled Russian spacewalk on ISS that must happen on August 17 because it involves the release of two satellites. Making things even more complicated is Dragon’s cargo, which includes mice for a rodent experiment. If it doesn’t occur before August 16, the mice will then have to be replaced with fresh mice, causing further delays.

There is then even the chance that these scheduling problems might impact SpaceX’s scheduled August 28’s launch of the X-37B, as well as ULA’s scheduled August 31 launch of surveillance satellite.

One additional tidbit: This Dragon will be the last unused cargo capsule. All future SpaceX cargo missions will use previously flown capsules.

I should add that these scheduling issues illustrate starkly the growing need for more launch sites. There is money to be made here, fulfilling this need.

Interorbital’s first test rocket, Neptune 1, is almost ready for flight

Capitalism in space: Interorbital, a smallsat rocket company building what they hope will be the world’s smallest and cheapest rocket, have announced that their first test rocket, Neptune 1 Guidance Test Vehicle (N1 GTV), is nearing completion.

During the test flight, the rocket will simulate an orbital launch trajectory by using the main rocket engine’s throttling capability to vary the thrust-to-weight ratio, thus simulating the actual conditions that will be experienced during an orbital launch. After the rocket passes through the transonic phase and Max Q, the engine will gradually throttle down, slowing the rocket until it begins to hover. At this point, the rocket engine will be shut down and the rocket will be allowed to fall. At a safe altitude, a parachute will be deployed for vehicle and payload recovery.

They then plan to follow this with an orbital test flight. No dates however for any of these test flights have as yet been announced.

Tupperware in space!

Capitalism in space: Tupperware and NASA have partnered to provide space-grown gardens an artificial material for roots to grow and be watered.

First flown to the ISS in 2014, the Vegetable Production System, (aka the “Veggie” facility), is an experiment for growing plants in zero gravity in a plastic greenhouse. It consists of a collapsible plastic tent with a controllable atmosphere lit by red, blue, and green LED lamps to promote growth. Since dirt and space travel don’t mix, the seeds are embedded in rooting “pillows” that take the place of soil to retain water and give the roots somewhere to grow.

The problem is that the pillows don’t hold onto water very well, so the hydroponic system keeps drying out unless it’s tended regularly. Given how much it costs to keep an astronaut on the station, time spent watering the lettuce is about as economical as hiring a brain surgeon to mow the lawn, so a team led by Howard Levine at the Kennedy Space Center is working on some upgrades for the system.

One key example is the semi-hydroponic Passive Orbital Nutrient Delivery System (PONDS) being produced by Tupperware. With over 75 years of experience working with food-grade plastics as well as injection molding and other plastic manufacturing processes, Tupperware is producing a new disposable pillow made of plastic mesh that uses capillary forces and unusual geometries to replace gravity and hold water in like a zero gravity sponge while permitting root formation.

In other words, rather than design and built the pillows itself, as it would have in the past, NASA has hired Tupperware to build them. I am willing to bet this is saving NASA both time and money.

Another space company partners with Luxembourg

Capitalism in space: Luxembourg has formed a new business partnership with Magna Parva, a United Kingdom company, to develop in-space manufacturing technology.

Within the framework of this MoU, the developments and research to take place in Luxembourg are related to the project for in-space manufacturing of composite beams equipped with antennas. Kleos Space will collaborate with EmTroniX, a Luxembourg-based company specialized in electronics development, as well as with the Luxembourg Institute of Science and Technology (LIST) on this subject. The Government will support the development of the in-space manufacturing technology by providing funding through the Luxembourg space program (LuxIMPULSE).

I suspect the manufacturing will be some form of 3D printing. However, it is unclear to me where in space this manufacturing will take place. Will it occur on ISS or the Chinese space station expected to launch in a few years? Or is Luxembourg planning some new venture that either includes some privately built station (Bigelow?) or an unmanned robot in orbit?

Either way, Luxembourg is once again investing its tax revenue in what it thinks will be profitable endeavors in space, and that venture capitalism is continuing to attract companies to that nation.

Brooks and Dunn – Only in America

An evening pause: In honor of what happened today, 48 years ago, when three American astronauts safely landed home on Earth, after walking on the Moon. From the chorus:

Only in America
Dreamin’ in red white and blue
Only in America
Where we dream as big as we want to
We all get a chance
Everybody gets to dance

It will be the American ideas of freedom, individual achievement, and capitalism that will make the settlement of the solar system possible. Other nations will participate, but it will still be these ideas that fuel the journey.

Hat tip Jim Mallamace.

Schedule for commercial manned flights solidifies

Capitlism in space: It appears that the schedule for the first unmanned and manned test flights of the commercial capsules being built by SpaceX and Boeing is getting more certain.

The latest SpaceX schedule calls for an uncrewed test flight in February 2018, followed by a crewed test flight in June 2018. Boeing’s schedule anticipates an uncrewed test flight in June 2018 and a crewed test flight in August 2018.

While this sounds encouraging, the story contradicts a Boeing report last week that suggested their first manned flight would be delayed into the fourth quarter of 2018. Both stories however pin the first unmanned demo flight for June 2018, which now seems to be a firm date.

ISRO’s 104 satellite launched earned India about $7 million

Capitalism in space: India’s space agency ISRO on Wednesday revealed to that country’s parliament that its record-setting 104 satellite launch on June 23 earned about $7 million.

On June 23 this year, PSLV-C38 had launched 712-kg Cartosat-2 satellite along with 30 co-passenger satellites. Of the 30 nano satellites, while one belonged to Noorul Islam University from Tamil Nadu, the rest 29 were from 14 foreign countries. On Wednesday, the government informed the Lok Sabha that the launch of 29 foreign satellites helped Antrix Corporation Ltd (ACL), the commercial and marketing arm of Isro, earn Rs 45 crore (6.1 million euros).

Before the June 23 multiple launch, Isro made the world record when its PSLV C37 launched 104 satellites in one go on February 15 this year. However, the space agency did not reveal how much it earned from that record-breaking launch. Out of the 104 satellites, 96 were from the US, three from India and one each from Israel, Kazakhstan, the Netherlands, Switzerland and the UAE.

From an American perspective it is encouraging that U.S. companies dominated the satellite count. From India’s perspective, the profits here are only going to encourage that nation to push for more rockets and cheaper costs.

The one problem I see with this is that it is the government that is obtaining the profits, not private Indian citizens or companies. Such an arrangement will not be good for India in the long run, as it encourages the government to use its coercive power to squelch private competitors.

News from SpaceX

Capitalism in space: At the annual convention of the National Space Society, Elon Musk revealed some significant new details about his company’s future engineering and launch plans.

The first two stories are related, as it had been powered landings that SpaceX hoped to use for its Red Dragon Mars landings. Dropping powered landings, at this time, means that the first Dragon mission to Mars will likely not happen in 2020. While Musk outlined a number of good engineering reasons for this decision, to me this quote from the first article was significant:

SpaceX planned to transition from splashdowns, which is how the current cargo version of the Dragon returns to Earth, to “propulsive” landings at a pad at some point after the vehicle’s introduction. Certification issues, he said, for propulsive landings led him to cancel those plans. “It would have taken a tremendous amount of effort to qualify that for safety, particularly for crew transport,” he said.

In other words, NASA was balking at this innovation, and was putting up so many obstacles that it just wasn’t worth the company’s effort at this time. NASA is their main customer for manned launches, and NASA doesn’t like daring or creativity or innovation. The powered version of Dragon will probably have to wait for other private customers looking for a way to get into space.

The third story outlines the engineering challenges that SpaceX has been dealing with in its effort to build the Falcon Heavy, and includes this tidbit from Musk:

With all of these elements in consideration, Mr. Musk is urging caution regarding public expectation for Falcon Heavy’s first flight, saying that there is a “real good chance that the first vehicle [won’t] make it to orbit. So I want to make sure to set expectations accordingly.”

Even more telling was how Musk continued on this point, stating that he hoped Falcon Heavy makes it far enough away from LC-39A before failing so the pad will escape significant damage. “I hope it makes it far enough away from the pad that it’s not going to cause damage. I would consider that a win, honestly,” said Mr. Musk.

Thank God NASA is not involved in the development of the Falcon Heavy. SpaceX would have probably had to abandon this as well.

Meanwhile, this detailed article by Eric Berger gives us Elon Musk’s position on NASA’s contracting system. Not surprisingly, much of what Musk says mirrors what I wrote in Capitalism in Space:

During his remarks Saturday, Musk said NASA could avoid unnecessary delays and costs by transitioning to a system of competitive awards for fixed-price contracts, in which companies are only paid when they meet “milestones” such as completing a flight test or satisfying NASA about the safety performance of a vehicle. Additionally, he said, at least two entities should compete during the development process.

There’s a lot more there, and it is worth a full reading.

Has India cut its cubesat launch prices?

Capitalism in space: A complex analysis of India’s recent launch prices suggests that ISRO reduced its cubesat launch prices when it launched a record-setting 103 satellites on the most recent PSLV launch.

The key paragraph however is this:

Small-satellite owners have long complained that the PSLV, whose reliability has been established in the market, has been slow to increase its launch tempo at a time of surging cubesat production. For the moment, none of these satellite customers’ launch options provide predictable launch cadence at affordable prices.

That may be about to change as several dozen vehicles designed specifically to accommodate the growing cubesat market are preparing to enter operations. Not all are likely to succeed in establishing a foothold, but the sheer number of them is impressive:

That makes it all the more important for ISRO’s Antrix Corp., the agency’s commercial arm, to cement a reputation for launch regularity and low prices.

In other words, because a flock of new smallsat launch companies, such as Rocket Lab, Vector, and Virgin Orbit, are about to enter the market ISRO is suddenly feeling the pressure, which is why they have cut prices as well as started to up their launch rate.

Isn’t competition wonderful?

Sierra Nevada picks ULA’s Atlas 5 for first two Dream Chaser cargo flights

Capitalism in space: Sierra Nevada has awarded ULA the contract for the first two cargo flights of Dream Chaser to ISS.

The announcement sets Dream Chaser’s first cargo flight to the International Space Station for launch from Cape Canaveral Air Force Station, Florida, in 2020. A second ISS cargo flight is contracted to lift off the next year. “ULA is an important player in the market and we appreciate their history and continued contributions to space flights and are pleased to support the aerospace community in Colorado and Alabama,” said Mark Sirangelo, corporate vice president of SNC’s Space Systems.

Financial terms of the contract were not disclosed.

Dream Chaser test vehicle undergoing tow tests

Capitalism in space: Sierra Nevada’s Dream Chaser engineering test vehicle underwent tow tests today.

Rolling on two main landing gear wheels and a nose skid, the Dream Chaser traveled down a runway Monday in Sierra Nevada’s latest tow test at Edwards Air Force Base, which is co-located with NASA’s Armstrong Flight Research Center. Once cut free from its tow vehicle, the Dream Chaser slowed to a stop, allowing engineers to gather data on the craft’s brakes, steering system, and guidance, navigation and control sensors that will line the spaceplane up for landing, according to Eric Cain, a Sierra Nevada engineer who described Monday’s test on the company’s Twitter account.

More tests are planned in the coming months, including additional tow tests and a “captive carry” flight with the Dream Chaser suspended under a helicopter.

This is the same engineering test vehicle that underwent tow tests and flew successfully once, though its landing gear failed up upon touchdown. They have replaced that landing gear, which was borrowed from the Air Force and was never intended to be the spacecraft’s wheels. Thus, they need to go through these tests all over.

NASA communications satellite damaged during launch prep

A NASA TDRS communications satellite, scheduled for a August 3 launch on a ULA Atlas 5 rocket, was damaged on July 14 while it was undergoing final preparations for launch.

Though the issue apparently involves one of the satellite’s main antennas, it is unclear what happened exactly or how extensive the damage was. Furthermore, this article about the incident notes that an earlier incident had also occurred during shipping.

It is understood this latest incident is not related to a ‘close call’ that NASA was investigating earlier in the flow. That incident involved the spacecraft’s shipping container – containing environmental instrumentation – which slid a couple of feet on the trailer it was being winched on to.

If I was a customer who might want to buy the launch services of ULA, I would demand detailed information about why these incidents happened, including what measures are being taken to prevent them from occurring again.

Luxembourg parliament adopts draft space law

Capitalism in space: The Luxembourg parliament yesterday adopted a draft space law that will allow that country to authorize, under the Outer Space Treaty, future private enterprise missions in space, including mining on the Moon and the asteroids.

The press release makes the following claim:

The Grand Duchy is thus the first European country to offer a legal framework ensuring that private operators can be confident about their rights on resources they extract in space. The law will come into force on August 1, 2017. Its first article provides that space resources are capable of being owned. The country’s law also establishes the procedures for authorizing and supervising space exploration missions.

In reading the actual law [pdf], however, I do not think this really does what they claim. All the law does is simply state that “Space resources are capable of being appropriated.” That’s it. They are essentially saying that any private profit-oriented mission that launches under Luxembourg’s authorization will have their blessing to take as much from any planetary body as they desire. No property rights are delineated, including the borders of any territory owned, which is not surprising since the Outer Space Treaty forbids Luxembourg from doing so.

In fact, I think this illustrates for us all the future as we colonize the solar system, assuming the Outer Space Treaty is not revised or dumped. Like pirates, nations (or their citizens) will grab as much as they can, and will then use force to protect those holdings from any one else. Everyone will have to do this, because there will be no legal framework to establish their claims.

Since it appears, at least for the present, that no one wants to change the Outer Space Treaty, expect the future in space to be a brutal legal nightmare for all involved.

First Starliner manned flight delayed to late 2018

Boeing has revealed that the first manned flight of its commercial Starliner capsule will likely be delayed a few more months to late 2018.

The latest confirmed schedules from NASA show the uncrewed mission, dubbed the Orbital Flight Test (OFT), slated for No Earlier Than June 2018, followed quickly in August 2018 by the crewed flight test.

However, comments made by Chris Ferguson last month at the Paris Air Show seem to indicate that the crewed flight test is moving from its August timeframe. According to Mr. Ferguson, Director of Crew and Mission Operations for Boeing’s Commercial Crew Program, the first Starliner crewed test flight is aiming for “last quarter of 2018” – which would be a shift of two to five months into the October to December 2018 timeframe.

The unmanned test flight, however, remains set for a June 18, 2018 launch.

Commercial space has won

Today the Senate Subcommittee on Space, Science, and Competitiveness, chaired by Senator Ted Cruz (R-Texas), held the third of a series of hearings on the future regulatory framework required for American commercial space to prosper.

My previous reviews of the past two hearings can be found at these links:

In today’s hearing the witnesses in general once again called for a variety of reforms that would simplify the regulatory process for private enterprise. Dr. Moriba K. Jah, associate professor from University of Texas at Austin, suggested removing NOAA’s veto power on remote sensing, something that the proposed House bill I analyzed in my Federalist op-ed actually does). Jeffrey Manber of Nanoracks suggested giving the private sector a certain date when ISS will be decommissioned so that they can more easily obtain investment capital for building the privately-built space facilities that will replace it. Tim Ellis of Relativity, a company trying to build rocket engines manufactured entirely by 3D printing, called for more American spaceports, accessible by private companies, as well as a simplification of the FAA permitting process. Robert Cabana, Director at the Kennedy Space Center, talked about the need for government facilities to provide the infrastructure for private companies, as the center has done for the private launch sites and manufacturing facilities they have helped get established at Kennedy since the retirement of the shuttle.

Tim Hughes from SpaceX topped them all.
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