Tag: commercial

French startup The Exploration Company negotiating purchase of UK rocket startup Orbex

8:39 am

Prime rocket prototype on launchpad
The prototype of Orbex’s never-launched Prime rocket,
on the launchpad in 2022

In what appears to be a direct consequence of British red tape blocking Orbex from launching in the past four years, it is now in negotiations to sell its assets to the French startup The Exploration Company.

On 21 January, Orbex published a brief press release stating that a letter of intent had been signed and that negotiations had begun. The company added that all details about the transaction remain confidential at this stage. A statement from Orbex CEO Phil Chambers suggests that the company’s financial position factored into its decision to pursue a buyer. “Our Series D fundraising could have led us in many directions,” said Chambers. “We believe this opportunity plays to the strengths of both businesses, and we look forward to sharing more when the time is right.”

Let me translate: In 2022 Orbex had set up a factory close to the proposed Sutherland spaceport on the north coast of Scotland, had signed a 50 year lease with that facility to launch its Prime rocket there, had built a launch platform and tested a prototype of the rocket, and was poised to do its first launch. All it needed was license approvals from the United Kingdom’s Civil Aviation Authority (CAA).

And then it waited, and waited, and waited, and waited. By 2024 it gave up on Sutherland, because the authorities (local and national) kept rejecting its spaceport license for environmental and political reasons. It switched its launch site to the SaxaVord spaceport on the Shetland Islands, pushing back that first launch to 2026. Along the way the UK gave it a $25 million grant, likely to keep the company above water because the UK was blocking its ability to launch.

All for naught. It is very clear Orbex has run out of cash waiting, and is now looking to salvage its work by selling everything to the French company, which so far has focused on building a cargo capsule to supply the upcoming commercial space stations.

If the sale goes through, do not be surprised if Orbex’s assets exit the UK entirely. And at that point, the CAA’s red tape can be given credit for destroying a second rocket company, following Virgin Orbit.

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Australian rocket startup Gilmour Space raises $145 million in investment capital

9:28 am

Eris rocket launch and failure
Gilmour’s Eris rocket falling sideways from launchpad
(indicated by red dot) in July 2025. Click for much better
video.

The Australian rocket startup Gilmour Space, whose one orbital test launch in 2025 failed, has now raised an additional A$217 million ($145 million American) in investment capital, in addition to the A$142 million it had previously raised.

The Series E round was jointly led by the National Reconstruction Fund Corporation (NRFC) and Hostplus, with participation from Future Fund, Blackbird, Funds SA, HESTA, NGS Super, Main Sequence, QIC, and Brighter Super.

…Proceeds from the raise will be used to support continued development and qualification of its Eris orbital launch vehicle, scale rocket and satellite manufacturing, expand test and launch infrastructure, and grow the company’s workforce to meet global demand for space launch services.

The National Reconstruction Fund Corporation is a government agency with a A$15 billion budget tasked to help finance new industries. It contributed A$75 million in this fund raising round.

The other major contributor was Hostplus, which matched that contribution.

Though the company has said it will attempt a second orbital test launch in 2026, no dates have been announced.

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New spaceport proposed in India independent of its space agency ISRO

8:02 am

The existing and proposed spaceports in India
The existing and proposed spaceports in India

According to the chief minister of the Andhra Pradesh province of India, his government is presently in discussions with the private Indian energy company Greenko Group about establishing a partnership to build a commercial spaceport at Hope Island off the coast near the city of Kakinada.

Addressing the gathering of foreign investors in renewable energies and officials of the State government after performing ‘bhumi puja’ [ground-breaking] for the Green Hydrogen and Green Ammonia Production Complex in Kakinada, Mr. Naidu said, “Soon, we (Andhra Pradesh) will launch satellites from the Hope Island. It will come soon, and Kakinada will have a lot of advantages in the field of technology and innovation.”

“The Greenko Group is evincing interest in being a part of the State government’s Space City project that includes developing satellite launching facility. In a recent interaction, Greenko Founder and Group CEO Anil Kumar Chalamalsetty has shown interest in the Space City project on the Hope Island,” said Mr. Naidu.

The location has advantages over the Sriharikota spaceport, run by India’s space agency ISRO, which on polar orbital launches needs to use extra fuel to avoid flying over Sri Lanka to the south. This issue is one of the reasons ISRO is presently building that second spaceport to the south for its SSLV rocket.

If privately run, this new spaceport will have other advantages. It will possibly attract some of India’s new rocket startups, who will avoid some of the bureaucracy that accompanies any dealings with ISRO. ISRO launches always involve a gigantic number of government personnel, a cost these startups can’t afford. This new Hope Island spaceport might avoid these costs with low overhead and efficient operations.

Nothing is firm yet. From the statement above, it appears the negotiation is in a very preliminary stage, and might never bear fruit.

Hat tip BtB’s stringer Jay.

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Japanese rocket startup Interstellar raises another $129.7 million in private investment capital

9:11 am

The Japanese rocket startup Interstellar announced late last week that it has successfully raised another $129.7 million in private investment capital, bringing its total available cash to $287.7 million.

Interstellar’s Series F round represents one of the largest fundraising to date by a privately held space startup in Japan2, bringing Interstellar’s cumulative funding to 44.6 billion JPY (287.7 million USD). The round, led by Woven by Toyota, raised 14.8 billion JPY (95.5 million USD) through a third-party allotment of preferred shares in an up-round.

In addition, the company secured 5.3 billion JPY (34.2 million USD) in debt financing from financial institutions, including 1.8 billion JPY (11.6 million USD) in loan facilities with stock acquisition rights provided by the Japan Finance Corporation. Alongside the fundraising, secondary transactions with existing shareholders were also conducted to optimize the company’s capital structure. Nomura Securities provided advisory support in this series, including the introduction of several potential investors, some of which resulted in fundraising.

Interstellar was one of the earliest rocket startups, first attempting a suborbital launch in 2018. After that launch failed it then disappeared for almost five years to suddenly reappear last year with major funding from Toyota and other sources.

It had previously hoped to complete the first launch of its Zero orbital rocket in 2025. At the moment however the company has set no new launch date, though it has announced that it has seven customer payloads for that launch.

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Startup focused on mining helium-3 on the Moon teams up with JPL for private rover mission

8:45 am

Artist rendering of Black Moon's Fusion-1 rover
Artist rendering of Black Moon’s Fusion-1 rover

The helium-3 lunar mining startup Black Moon Energy (BMEC) has now signed a partnership deal with JPL to build and send a private rover to the Moon, dubbed Fusion-1, to search for helium-3.

BMEC will lead mission management, resource-assessment strategy, and large-scale operations planning. As global leaders in robotic space exploration, the Jet Propulsion Laboratory (JPL) and Caltech, which manages JPL, have been engaged to oversee the mission’s robotic systems, scientific instrumentation, data acquisition, and mission operations.

…BMEC’s initial year-long lunar expedition will provide the first decision-quality dataset for Helium-3 production operations. Information from the mission will support potential applications in fusion power generation, national security systems, quantum computing, radiation detection, medical imaging, and cryogenic technologies. Insights from the mission will guide BMEC’s long-term strategy for establishing a sustainable cost-effective Helium-3 supply chain from the lunar surface.

A review of Black Moon’s website as well as a search on the web reveals no information about the company’s available capital, so this proposed private mission could be real, or it could be pie-in-the-sky.

Its existence at all however proves the impact that lower launch costs is having. Proposing a private mission such as this before SpaceX would have been met with outright laughter. Now it draws serious interest. It is wholly conceivable to build a low-cost small robotic rover and find affordable launch providers and lunar lander companies that can get it to the Moon.

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Japan’s government gives Ispace a $125 million contract to build a high-precision lunar lander

8:30 am

Is this the first sign that Japan's space agency JAXA is becoming irrelevant?
Is Japan’s failed space agency JAXA finally
starting to become irrelevant?

The Japanese lunar lander startup Ispace last week announced it has won a $125 million contract to build a high-precision lunar lander targeting a 2029 launch in the Moon’s “polar regions”.

Ispace, inc, a global lunar exploration company, announced that the company was selected to implement its proposal for “High Precision Landing Technology in the Lunar Polar Regions” project under the second phase of Japan’s Space Strategy Fund. The technology will be implemented in ispace’s Mission 6, with development now underway.

The funding amount is subject to change based on stage gate reviews and other factors, so full receipt is not guaranteed at this time.

The mission will also include a lunar orbiter that will act as a relay communication satellite that will also remain in orbit after the mission to provide communications for future missions, not only for polar missions but for missions to the Moon’s far side.

Ispace plans to use some of the technology it is developing for its 2nd generation lunar lander, scheduled to fly in ’28.

This contract is significant because it appears to leave ownership of the project entirely in Ispace’s hands, with Japan’s space agency JAXA having little design or management control. It also appears to use the funds from country’s ten-year $6.6 billion fund as intended. That fund was established in 2023 to support new space startups under the capitalism model, whereby the companies provide the product and government and JAXA are merely the customer.

Up until now it appeared this fund was accomplishing little. In fact, there have been indications that JAXA was trying to repurpose the fund for its own benefit, using it to hire a lot more staff while maintaining control and ownership of any project, rather than let the private sector own its own work.

Since JAXA has increasingly done a very bad job promoting Japan’s space exploration industry, those indications were a very bad sign for Japan’s future in space.

This deal appears however to use that strategic fund properly, even if JAXA might still be skimming a large percentage of the fund off the top. This is not unlike what NASA has been doing. Bureaucrats must be bureaucrats, and all government agencies must be eternal and immortal, no matter what.

Like NASA, however, the success of Ispace and rest of Japan’s private space sector from projects financed by this fund will eventually allow that private sector to make those bureaucrats and JAXA irrelevant. It is happening now in the U.S. It now appears there is a chance it will happen in Japan as well.

Hat tip to BtB’s stringer Jay.

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French rocket startup MaiaSpace wins ten-launch contract from Eutelsat

8:01 am

The French rocket startup MaiaSpace, which has not yet launched anything, has won a ten-launch contract from Eutelsat to place an unspecified number of its next generation OneWeb satellites into orbit.

Eutelsat has ordered around ten launches from MaiaSpace to launch some of the 440 new OneWeb satellites. These launches are scheduled from late 2027 to 2029. MaiaSpace has thus secured 50% of the launches planned for this period.

MaiaSpace is a wholly owned subsidiary of ArianeGroup, the company that builds Arianespace’s Ariane-6 rocket. ArianeGroup created it when it realized the expendable Ariane-6 rocket was not going to do well competing with the new reusable rockets. MaiaSpace’s Maia rocket will launch from French Guiana, and is being designed to eventually be reusable.

What makes this deal puzzling is that MaiaSpace is far behind at least thee other rocket startups in Europe, Germany’s Isar Aerospace and Rocket Factory Augsburg, and Spain’s PLD, all of which are much closer to an orbital launch. I suspect ArianeGroup used its clout to win the contract.

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Chris Rea – The Road To Hell

6:01 pm

An evening pause: Performed live 2006.

Hat tip Alec Gimarc, who adds these details: “Chris Rea passed away last week. About our age. Over 30 studio albums. British. Very much an acquired taste. Been listening to him for nearly 40 years. Smooth, smoky voice. He specialized in slide guitar. Road to Hell is probably his greatest hit.”

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Lockheed Martin and General Electric complete tests of a rotating-detonation engine

10:04 am

Lockheed Martin and General Electric announced this week that they have successfully tested a rotating-detonation engine using complimentary technology developed by each company.

GE Aerospace and Lockheed Martin completed a series of engine tests demonstrating the viability of a liquid-fueled rotating detonation ramjet for use in hypersonic missiles, the first initiative between the companies under a broader joint technology development arrangement.

This fuel-efficient rotating detonation ramjet promises to fly missiles faster—including at hypersonic speeds—and farther while decreasing costs compared to other ramjet options. … The rotating detonation ramjet combusts fuel and air through detonation waves instead of the traditional combustion methods used in ramjet engines today. This propulsion system generates high thrust for super- and hypersonic speeds to engage high-value, time-sensitive targets, with a smaller engine size and weight that boosts range.

In October Lockheed Martin’s venture capital division announced it was investing in a startup, Venus Aerospace, that was developing its own rotating detonation engines. One now wonders, based on today’s story, if that investment might have been a purchase of the technology itself.

Either way, the Pentagon’s program to develop hypersonic missile capability has blossomed in the past two years, since it stopped trying to build the technology itself and has instead been hiring private aerospace companies to do the research for it. Ain’t capitalism wonderful?

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Indian startup raises seed money to build robotic satellite servicing “jetpacks”

9:22 am

An Indian startup, Aule Space, has now raised $2 million in seed money to begin development of a robot servicing spacecraft it intends to call “jetpacks”, designed to attach to satellites and provide them fuel and power.

The seed funding will allow Aule Space to being work on a demonstration mission planned for launch next year to test its docking capabilities. That will involve two satellites, each weighing about 30 kilograms, but Panchal said one option is to instead use an orbital transfer vehicle as the client for the docking demonstration.

The 11-person company, which plans to grow to 20 people by the end of the quarter, is working on ground tests of its rendezvous and docking technology. It has access to facilities used by the Indian space agency ISRO for testing SPADEX, a docking demonstration mission flown a year ago.

This “jetpack” concept is very similar to Northrop Grumman’s Mission Extension Vehicles (MEV), several of which have already flown and extended the life of several satellites.

Aule is exactly the type of Indian satellite startup that India’s rocket startups, Agnikul and Skyroot, are being built to serve. The problem is that all of these startups, both satellite and rocket, are literally all startups. None has flown. India’s private space sector won’t really take off until its private rocket companies get off the ground, as its government space agency, ISRO, has done a very poor job launching its PSLV and SSLV rockets (both designed for smallsats). The PSLV has failed on its last two launches, and the SSLV has been in limbo now for years.

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