Tag: commercial

Intuitive Machines completes merger with SPAC as it goes public

9:02 am

Intuitive Machines, one of a handful of American companies building lunar landers for NASA and others, has completed its merger with a special purpose acquisition company (SPAC), thus becoming a publicly traded stock but raising less money than expected in the process.

Intuitive Machines said Feb. 13 it had closed its merger with Inflection Point Acquisition Corp., a SPAC that trades on the Nasdaq. The merged company, retaining the Intuitive Machines name, will trade on the Nasdaq starting Feb. 14 under the ticker symbol LUNR.

The companies announced the merger in September 2022, long after the mania surrounding SPACs has cooled both in the space industry and the overall market. Inflection Point had $301 million of cash in trust, and the companies said they had arranged an additional $55 million in investment from the SPAC’s sponsors and a founder of Intuitive Machines, along with $50 million CF Principal Investments LLC, an affiliate of Cantor Fitzgerald & Company. In an investor presentation linked to the merger announcement, the companies anticipated having more than $330 million in cash after transaction expenses.

However, in the Feb. 13 announcement that the merger had closed, the companies announced only $55 million of “committed capital from an affiliate of its sponsor and company founders.”

It appears that many investors in Inflection Point itself (30% of whom had voted against this merger) had pulled their money from the fund, depleting the $301 million that was originally promised. In addition, yesterday’s announcement made no mention of the $50 million that CF had also committed.

Essentially, the company’s future hinges on the success of its first lunar mission, presently scheduled for June. Should it succeed, the company should be able to replace from other investors the funds that it failed to raise in this merger. Should it fail, it is very possible it will go belly up, as it is likely it will find it difficult if not impossible to find further investment capital.

There is of course the possibility that NASA will keep the company afloat with additional funding, but if so it might be a case of throwing good money after bad, something our government is very good at doing.

1 comment

One of Saudi Arabia’s two Axiom passengers later this year will be a woman

9:00 am

In announcing the two astronauts who will fly as passengers on Axiom’s commercial Ax-2 flight to ISS in the second quarter of 2023, Saudi Arabia also revealed that one will be the first female Arabian to fly in space.

Saudi nationals Rayyanah Barnawi and Ali al-Qarni will join the crew of the AX-2 space mission in an accomplishment that comes in line with the Kingdom’s Vision 2030. The spaceflight is set to launch from the United States to the ISS.

There is an aggressive space race now in the Middle East between Arab nations. The UAE started it by making space exploration a major goal for diversifying its economy. Saudi Arabia has now followed with its own program. Turkey, Bahrain, and Oman have also joined in.

1 comment

SpaceX launches 55 more Starlink satellites

10:20 pm

Using its Falcon 9 rocket, SpaceX tonight successfully launched 55 Starlink satellites into orbit, lifting off from Cape Canaveral.

The first stage successfully completed its 12th flight, landing on a drone ship in the Atlantic. (These 1st stage landings have become so routine that no one at SpaceX even cheered tonight when the stage landed.) The fairing halves completed their 6th and 8th flights respectively. As of posting, the satellites had not yet been deployed.

The 2023 launch race:

10 SpaceX
5 China
2 Russia
1 Rocket Lab
1 Japan
1 India

American private enterprise now leads China 11 to 5 in the national rankings, and the entire globe combined 11 to 9.

5 comments

NASA awards launch contract to Blue Origin’s unlaunched New Glenn rocket

9:09 am

NASA yesterday awarded Blue Origin the launch contract for its smallsat ESCAPADE Mars orbiter mission, set to launch in late 2024.

ESCAPADE will launch on Blue Origin’s New Glenn rocket from Space Launch Complex-36 at Cape Canaveral Space Force Station in Florida. Launch is targeted for late 2024. Blue Origin is one of 13 companies NASA selected for VADR contracts in 2022. NASA’s Launch Services Program, based at the agency’s Kennedy Space Center in Florida, manages the VADR contracts. As part of VADR, the fixed-price indefinite-delivery/indefinite-quantity contracts have a five-year ordering period with a maximum total value of $300 million across all contracts.

NASA’s VADR program is designed to give contracts to higher risk contractors to help those launch companies develop their rockets. Since New Glenn is years behind schedule and as-yet unlaunched, this contract is an attempt to help change that. Note however that it is fixed price, and does not set a deadline for Blue Origin to launch.

ESCAPADE will actually be two orbiters designed to study the faint artifacts of Mars’ magnetosphere left over from its past.

7 comments

SpaceX completes 33-engine static fire test today of Superheavy prototype #7

10:25 am

Two seconds after ignition
Today’s Superheavy static fire test

SpaceX today successfully completed a 7-second-long static fire test of 31 of 33 Raptor-2 engines at the base Superheavy #7. The test ran for its full duration, and it appears no damage occurred to the launchpad. One engine shut down prior to test, and one shut down prematurely during the test. If this had happened during launch, the booster would still have had enough energy to get Starship to its required velocity to reach orbit.

The company will now have to analyze the test to determine whether it was sufficient to proceed to a March orbital launch. Certainly they will roll the booster back to the assembly building to exchange out the two engines that misfired.

All in all, it appears an orbital test flight of Starship could occur sometime in the next two months, assuming the FAA gets out of the way and issues the launch license.

EARLIER UPDATE:
—————-
Propellant loading is underway, and a rough time estimate for the actual static fire test is now 3 pm (Central).

Musk has now confirmed in a tweet that they are going to proceed to the test. It now appears that they have almost completed propellant loading. It appears they have filled the oxygen tanks, but not the methane tanks, and will probably not fill the methane tanks entirely for the test itself.

Original post:
—————-
No specific schedule has been announced of SpaceX’s attempt today to complete the first full 33-engine static fire test in Boca Chica of its seventh prototype of Superheavy, but a live stream is available from NASAspaceflight.com. I have embedded that live stream below.

The test will validate numerous systems, including the ground systems, the launchpad, the engines, and the systems for igniting all 33 in the proper sequence. Starship prototype #24 is not stacked on top of Superheavy in order to prevent any damage to it in case this test goes ugly. If so, SpaceX already has Superheavy prototype #9 ready to go in the nearby assembly building.

» Read more

21 comments

ISRO successfully test fires a throttleable version of an engine used in two of its rockets

10:03 am

ISRO on January 30, 2023 successfully completed a static fire test of a throttleable version of its Vikas rocket engine, used in the upper stage of both its PSLV and GSLV rockets as well as in the GSLV’S first stage, running the engine at 67 percent power for a time period of 43 seconds.

The ability to adjust the power level of the engine during launch will give ISRO the ability to attempt the recovery of the first stages, as well as expand the ability of these rockets to place more satellites per launch in different orbits.

0 comments

FCC approves the first 3,000+ satellites in Amazon’s Kuiper constellation

9:46 am

FCC has now given Amazon its license to launch the first 3,236 satellites in its Kuiper internet constellation, including with that license new de-orbiting requirements that exceed the FCC’s actual statutory authority.

The Federal Communications Commission approved Amazon’s plan Feb. 8 to deploy and operate 3,236 broadband satellites, subject to conditions that include measures for avoiding collisions in low Earth orbit (LEO).

Amazon got initial FCC clearance for its Ka-band Project Kuiper constellation in 2020 on the condition that it secured regulatory approval for an updated orbital debris mitigation plan. The FCC said its conditional approval of this mitigation plan allows “Kuiper to begin deployment of its constellation in order to bring high-speed broadband connectivity to customers around the world.” The conditions include semi-annual reports that Kuiper must give the FCC to detail the collision avoidance maneuvers its satellites have made, whether any have lost the ability to steer away from objects, and other debris risk indicators.

In the order, the FCC also requires Kuiper to ensure plans to de-orbit satellites after their seven-year mission keep inhabitable space stations in addition to the International Space Station in mind.

According to the license, Amazon must launch 1,600 of these satellites by 2026.

The de-orbit requirements are part of the FCC’s recent regulatory power grab, and has no legal basis. The FCC’s statutory authority involves regulating the frequency of signals satellites use, as well as acting as a traffic cop to make sure the orbits of different satellites do not interfere with other satellites. Nowhere has Congress given it the right to determine the lifespan of satellites, or the method in which they are de-orbited.

Right now however we no longer live in a republic run by elected officials. In Washington it is the bureaucracy that is in charge, Congress being too weak, divided, and corrupt to defend its legal power. Thus, the FCC can easily grab new powers that it has no right to have.

3 comments

Update on CAPSTONE in lunar orbit

8:58 pm

Link here. The key takeaway is that this commercial privately built and operated lunar smallsat is doing what it was designed to do, even as its operators continue to overcome periodic technical problems.

For example, beginning January 26th the spacecraft stopped receiving commands from ground controllers. The problem solved itself when on February 6th “an automatic command-loss timer rebooted” the spacecraft. Meanwhile,

CAPSTONE has completed more than 12 orbits in its near-rectilinear halo orbit – the same orbit [that will be used by Lunar] Gateway – surpassing one of the mission’s objectives to achieve at least six orbits. The mission team has performed two orbit maintenance maneuvers in this time. These maneuvers were originally scheduled to happen once per orbit, but the mission team was able to reduce the frequency while maintaining the correct orbit. This reduces risk and complexity for the mission and informs plans for future spacecraft flying in this orbit, like Gateway.

Essentially, mission controllers are figuring out the best and most efficient methods for eventually maintaining Lunar Gateway’s orbit around the Moon, when it gets there.

0 comments

Midori- Variations on “The Last Rose of Summer” by Ernst

6:01 pm

An evening pause: Performed live 1990, four days before her 19th birthday. As every single commenter at the youtube page correctly notes, this is an incredibly difficult piece. “Many great violinists won’t play this in public, or even record it.” Just watch and see. If you admire great guitar players, you will be astounded by some of the moves she performs.

Hat tip Judd Clark.

2 comments
1 … 267 268 269 270 271 … 897