Tag: commercial

Astra scrambling to find investors as its cash reserves dwindle

9:27 am

Despite a major reorganization, including laying off a quarter of its workforce, Astra now appears to be scrambling to find new investors even as its available cash reserves shrink.

The company’s financial runway is diminishing even as the company finds new sources of capital, such as a loan announced Aug. 4 that will provide Astra with $10.8 million and plans announced in July to sell up to $65 million in Astra stock in an “at-the-market” transaction. The company forecasted an adjusted EBITDA loss of $25 million to $29 million in the third quarter, ending the quarter with $15 million to $20 million of cash and equivalents on hand.

One analyst on the call expressed frustration with those projections, asking Astra executives for the “upside” of the company’s plans. Kemp emphasized the backlog of orders for its thrusters, which Astra said Aug. 4 was valued at $77 million, as well as orders from the U.S. Space Force and the Defense Innovation Unit for the Rocket 4.

However, he suggested the company’s efforts to focus on thruster production were intended to buy time for Astra as the company looks for new investors. The company said Aug. 4 it was working with PJT Partners, an investment bank, to identify “potential strategic investments in the Astra Spacecraft Engine business” that would bolster its finances. “We are actively focused on finding investors in these two businesses,” he said, noting that the company’s launch and spacecraft propulsion business lines are distinct and “in different phases of their development.”

Essentially the company is approaching a make-or-break moment. What I think is likely to happen is it will either go bankrupt, or be purchased outright by a new big-money investor who will take over the company entirely, replacing its present management with new people.

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Intuitive Machines sets mid-November launch date for its Nova-C lunar lander

9:16 am


Click for interactive map.

Intuitive Machines announced yesterday that the launch of its lunar lander, Nova-C, is now targeting a November 15-20, 2023 window, lifting off on a SpaceX Falcon 9 rocket.

The yellow dot on the map to the right indicates the landing site, Malapert A, in the southern latitudes of the Moon. The white cross indicates the south pole.

The lander had originally planned to launch in 2021, but delays in construction pushed the launch back two years. A second company, Astrobotics, has its own lander, Peregrine, that though also delayed two years, has been ready to launch since early this year. It won’t launch until the end of this year at the earliest, however, due to delays in readying its rocket, ULA’s Vulcan on its first flight.

Both India’s Chandrayaan-3 and Russia’s Luna-3 are right now on their way to the Moon, with each planning a landing next week.

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Busby Berkeley – Tap dance sequence from Lullaby of Broadway

6:01 pm

An evening pause: Time for another Berkeley extravaganza. This except is only a small part of the full thirteen-plus minute Lullaby of Broadway number in the movie Gold Diggers of 1935. This movie was made when the talking pictures were still new, and making films that highlighted “All Talking! All Singing! All Dancing!” was the rage. It was also a time when all Americans danced arm-in-arm as one of their main forms of entertainment, so interest in great dancing like this was at its height.

Hat top Judd Clark.

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Axiom signs deal with Poland and ESA to send Polish astronaut to Axiom’s future space station

9:22 am

Capitalism in space: Axiom last week signed an agreement jointly with Poland and the European Space Agency (ESA) to send Polish astronaut to Axiom’s space station, expected to launch sometime in 2026.

This was the second European astronaut Axiom has signed a deal to fly to space, with the ESA in both cases providing support.

In April 2023, Axiom Space and the Swedish National Space Agency signed a letter of intent to send an ESA astronaut to the ISS. Through this agreement, the upcoming Axiom Space mission, Ax-3 now targeting launch in January 2024, will be the first commercial mission to the ISS to include an ESA project astronaut.

The date for the flight of the Polish astronaut was not announced. Nor is it clear whether this astronaut will fly to Axiom’s first module, attached to ISS, or wait until Axiom’s completes its station and separates from ISS entirely.

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SpaceX launches another 22 Starlink satellites

10:27 pm

In what is turning into routine clockwork, SpaceX tonight completed its fourth launch in only the first ten days of August, placing 22 Starlink satellites into orbit using its Falcon 9 rocket lifting off from Cape Canaveral.

The first stage completed its ninth flight, landing safely on a drone ship in the Atlantic. The two fairings completed their tenth and eleventh flights respectively. At the time of posting the satellites themselves had not yet been deployed.

The leaders in the 2023 launch race:

55 SpaceX
33 China
11 Russia
6 Rocket Lab
6 India

American private enterprise now leads China in successful launches 63 to 33, and the entire world combined 63 to 55. SpaceX by itself is now tied with the entire world (excluding American companies) 55 to 55.

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Update on the development of a new first stage for Northrop Grumman’s Antares rocket

9:01 am

Link here. The first stage of the Antares rocket has previously relied on Russian engines in a Ukrainian-built body. The Ukraine War made getting both impossible, and thus Northrop Grumman hired Firefly to provide it a new first stage, presently targeting mid-2025 for its first flight. In the meantime in order to meet its contractual obligations with NASA, it has hired SpaceX’s Falcon 9 rocket to fly the next three Cygnus freighters to ISS.

The report at the link gets some interesting details about Firefly’s engines and first stage. Both will raise the payload capabilities of Antares, which as yet has failed to garner any commercial payloads outside of Northrop’s own Cygnus capsule. That increase in capability might make it more appealing to commercial satellite companies.

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Smothers Brothers – Hippie Chick Clip

6:01 pm

An evening pause: A wonderful moment from the 1960s, performed brilliantly by actress Leigh French and resulting in some wonderful and gentle satire of the hippie culture of the time. Context is also important, because the Smothers Brothers were constantly having problems with their television censors.

Hat tip Judd Clark.

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Ella Roberts – Wild Mountain Thyme

6:01 pm

An evening pause: I normally dislike music videos like this one, with their fake drama and stagey lip-synched performance, but this song is so beautiful and the visuals match so well that I gladly make an exception this time, especially because I have wanted to post this song as a pause for years, but never could find a version I liked.

Hat tip Alton Blevins.

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NOAA lifts many restrictions on the release of commercial Earth observation images

3:09 pm

As part of a 2020 revision by Commerce to reduce regulations on satellites that monitor the Earth, NOAA has now lifted many of the restrictions it placed on the release of high resolution commercial Earth observation images.

NOAA said it lifted 39 restrictions on an unspecified number of licenses. Those restrictions include a reduction of global imaging restrictions for certain imaging modes and removal of restrictions on non-Earth imaging and rapid revisit. It also removed all temporary conditions on X-band synthetic aperture radar (SAR) imagery.

One of the companies that benefits from the removal of the conditions is SAR imaging company Umbra. The company announced Aug. 7 that, with the removal of the conditions, it can now offer SAR images to customers at a resolution of 16 centimeters, compared to no better than 25 centimeters under the old license conditions. “This means that we are finally able to offer customers the highest resolution images that our satellites are capable of capturing, setting the stage for even further expansion of products to customers,” said Gabe Dominocielo, Umbra’s co-founder and president, in a company statement.

The revision to the regulations, put in place in 2020, had been instigated by the Trump administration, and has apparently been left untouched by the Biden administration, at least up until now.

For the satellite companies it means they are much freer to produce that best imagery, and thus compete more successfully. For customers, it means that they will now have access the best imagery, in open competition. For news outlets attempting to report on things like the Ukraine War, for example, this ability will make it possible to improve the accuracy of the coverage.

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