Tag: competition

Astrobotic makes bid to buy assets of bankrupt Masten

9:02 am

Capitalism in space: Astrobotic, a startup focused on building lunar and planetary unmanned landers, has now made a formal bid to buy the remaining assets of Masten Space Systems, which had also been a startup focused on planetary missions but recently went bankrupt.

In a filing with the U.S. Bankruptcy Court for Delaware Aug. 14, Masten said it received a “stalking horse” bid of $4.2 million for Masten’s assets, including a SpaceX launch credit worth $14 million, from Astrobotic. The agreement, in effect, sets a minimum price for the sale of those assets but does not prevent Masten from seeking higher bids through an auction process that runs through early September.

The agreement appears to supersede an earlier agreement between Masten and a third lunar lander company, Intuitive Machines, included in Masten’s Chapter 11 filing July 28. That agreement covered the SpaceX launch credits alone and Masten did not disclose the value of it in its original filing.

Masten’s long term specialty has been vertical take-off and landing, something it has successfully done for the last several years on suborbital flights. This technology would be of great value to both Astrobotic and Intuitive Machines in developing their own first lunar landers.

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Merger deal between Italian orbital tug company D-Orbit and Breeze canceled

8:52 am

Capitalism in space: The merger deal between the Italian orbital tug company D-Orbit and the special purpose acquisition investment company (SPAC) Breeze has been canceled.

The Italian company had hoped to raise $185 million from the deal to expand staff and accelerate investments in ION Satellite Carrier, its orbital transfer vehicle (OTV) that completed its first commercial mission in late 2020.

However, “financial markets have changed substantially” since the deal was announced Jan. 27, Breeze CEO Douglas Ramsey said, amid rising interest rates, soaring inflation, and an ongoing war in Ukraine. “As we look ahead, we remain focused on identifying another value creating opportunity for Breeze shareholders,” Ramsey added.

A SPAC is a shell company designed solely to gather investment capital that is then used to either buy or merge with another company. In the process the company that is taken over goes public, its stock available on the stock market for trade. There have been a number of such takeovers in the space sector in the past few years, but most have turned out poorly for the investors in those SPACs, as noted in the article:

Of the nine space companies that went public through SPAC mergers in 2021, only Rocket Lab’s shares finished the year trading above their price when the merger closed. [Ed: both Virgin Galactic and Astra are examples of these failures.]

Demand for new SPAC deals has also been waning amid declining investor appetite for risk and increasing regulatory scrutiny over how these blank check firms operate. More than 40 SPAC mergers have been canceled so far this year, reported Bloomberg.

To put it more bluntly, investors have found these SPACs to be poor investments, and are bailing from them. This is likely what happened at Breeze, thus forcing the cancellation of the deal with D-Orbit.

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August 15, 2022 Quick space links

12:43 pm

From Jay, BtB’s stringer:

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Russia to launch Tunisian astronaut to ISS

9:38 am

As part of an agreement between the two nations, Russia yesterday announced that it will fly a Tunisian woman to ISS in 2024.

On August 13, Women’s Day in Tunisia, eight women candidates for a space flight were presented. They are currently undergoing medical examination. Six of them will go to Russia for the final stage of pre-qualification to choose two best candidates: one will be a member of the main crew, the other one – of the standby crew.

No longer able to make money selling the spare seats on Soyuz to NASA, and apparently not getting much interest from the private sector inside or outside of Russia to buy these seats, the Putin government is now using them for international diplomacy, just as it did during the Soviet era.

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Russia unveils small model of its proposed space station

9:32 am

Tabletop Model of Russian Space Station

The Russian space agency Roscosmos today unveiled a small tabletop model of the independent Russian space station it proposes to build that will replace its portion on ISS.

The picture to the right shows that model. It shows four large modules, a second docking hub, and a Russian manned Federatsiya (“Federation” in English) capsule (intended to replace Soyuz) docked to the nearest port.

Roskosmos said in a statement that the new space station would be launched in two phases, without giving dates. The first phase would see a four-module space station start operating. That would later be followed by a further two modules and a service platform, it said. That would be enough, when completed, to accommodate up to four cosmonauts as well as scientific equipment.

Roskosmos has said the new station would afford Russian cosmonauts a much wider view of the Earth for monitoring purposes than they enjoy in their current segment. Although designs for some of the new station already exist, design work is still underway on other segments.

Russian state media have suggested that the launch of the first stage is planned for 2025-26 and no later than 2030. Launch of the second and final stage is planned for 2030-35, they have reported.

Russia officials have also said that it will stick with its partnership at ISS until this new station has begun operations.

It will be very revealing how successful Russia is at meeting this timetable. For the past thirty years, since the fall of the Soviet Union and the advent of international cooperation at ISS, its aerospace sector has routinely failed to meet any schedule at all, promising a lot but never delivering, or delivering literally decades late. (For example, Federatsiya has been under development for almost a decade, with no apparent progress.) Forced to go it alone, and in competition with the rest of the world, that sector, now controlled and owned by the government (like the Soviet days), might finally have some incentive to produce.

Or not. The corruption that permeates Russia’s government is deep and widespread. It is entirely possible that a large percentage of the money budgeted for this project ends up in the pockets of its managers instead of used to build anything.

We shall have to wait and see.

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August 14, 2022 Quick space links

1:06 pm

Some weekend news from BtB’s top stringer, Jay.

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Professional software hacker demonstrates how to hack Starlink terminals

10:49 am

A professional software hacker not only recently succeeded in hacking the terminals SpaceX sells customers to use its Starlink satellite internet service, he first got a bounty from SpaceX for doing so, then made his technique freely available on the web for everyone else.

[Lennert] Wouters is now making his hacking tool open source on GitHub, including some of the details needed to launch the attack. “As an attacker, let’s say you wanted to attack the satellite itself,” Wouters explains, “You could try to build your own system that allows you to talk to the satellite, but that’s quite difficult. So if you want to attack the satellites, you would like to go through the user terminal as that likely makes your life easier.”

The researcher notified Starlink of the flaws last year and the company paid Wouters through its bug bounty scheme for identifying the vulnerabilities. Wouters says that while SpaceX has issued an update to make the attack harder (he changed the modchip in response), the underlying issue can’t be fixed unless the company creates a new version of the main chip. All existing user terminals are vulnerable, Wouters says.

Starlink says it plans to release a “public update” following Wouters’ presentation at Black Hat this afternoon, but declined to share any details about that update with WIRED prior to publication.

Wouters is a researcher at the Belgian university KU Leuven.

While it can certainly help SpaceX to figure this out, by publishing the hack to the world Wouters looks like a blackmailer unsatisfied with his payoff who is now following through with his blackmail threat. One also wonders why SpaceX, as part of its bounty payment, did not require Wouters to sign a non-disclosure agreement.

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SpaceX launches 46 more Starlink satellites

2:49 pm

Capitalism in space: SpaceX today used its Falcon 9 rocket to launch another 46 Starlink satellites into orbit from Vandenberg Space Force Base in California.

The first stage completed its 10th flight, landing on a drone ship in the Pacific. It was also the fourth flight for both fairing halves. During the live stream the announcer also mentioned that because SpaceX has recently switched to using Starlink for transmitting its launch video feeds, the loss of picture signal that use to occur during the landing of the first stage on the drone ship has almost completely vanished.

The leaders in the 2022 launch race:

36 SpaceX
30 China
11 Russia
6 Rocket Lab
5 ULA

American private enterprise now leads China 51 to 30 in the national rankings, and the entire world combined 51 to 48.

I should also add that the United States has now matched the number of launches achieved in 1962, the nation’s fifth highest total of successful launches in a single year.

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Another and this time longer static fire tests for Superheavy prototype #7

9:02 am

Capitalism in space: SpaceX engineers yesterday conducted a second static fire engine test of the 7th prototype of its Superheavy first stage booster, firing a different engine for 20 seconds.

The action ramped up on Thursday (Aug. 11) for Booster 7, which conducted a much longer static fire on Starbase’s orbital launch mount. The burn, which occurred at 3:48 p.m. EDT (1948 GMT), lasted for 20 seconds, SpaceX said via Twitter (opens in new tab).

The long-duration burn aimed to “test autogenous pressurization,” according to a tweet posted by Musk (opens in new tab) shortly before Booster 7 fired up.

Expect these engine tests to occur on a regular basis over the next few weeks, as engineers ramp up their operations in preparation for the first orbital flight of both prototype #7 with Starship prototype #24 stacked on top.

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SpaceX gets FCC communications license for Starship orbital launch

8:47 am

Capitalism in space: The FCC yesterday approved SpaceX’s communications license for one or more Starship orbital launches, with a six month launch window beginning on September 1, 2022.

This FCC approval is not a launch license, which must be given by the FAA. It does tell us that SpaceX will not attempt the first orbital launch of Starship before the end of this month. It also tells us that the company likely plans on an aggressive test program from September ’22 through February ’23, assuming the FAA and the federal bureaucracy finally stops blocking that program.

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