Tag: freedom

Space station startup Voyager Technologies about to go public

10:52 am

Starlab design in 2025
The Starlab design in 2025. Click
for original image.

The space station startup Voyager Technologies (formerly Voyager Space) has filed its paperwork for its expected initial public offering (IPO) of stock as it competes for a major contract from NASA to build its Starlab space station.

Voyager filed a preliminary prospectus for its planned initial public offering (IPO) with the U.S. Securities and Exchange Commission May 16. The company previously confidentially filed plans for its IPO with the SEC. The draft prospectus does not yet disclose how many shares the company plans to sell or the amount the company expects to raise in the IPO. It does, though, offer financial details about Voyager.

The company reported $144.2 million in revenue in 2024 and a net loss of $65.6 million, versus $136.1 million in revenue and a net loss of $25.2 million in 2023. The company also reported revenue of $34.5 million in the first quarter of 2025, and a net loss of $27.9 million.

This story actually made me less confident about this company’s plans, with this quote the most revealing:

The company received a funded Space Act Agreement from NASA to support initial design work on the station, currently worth $217.5 million with $70.3 million yet to be paid. … The NASA award covers only initial work on Starlab, and the company will have to compete for a second phase of NASA’s Commercial Low Earth Orbit Development program that will offer additional funding for station development. Voyager revealed in the prospectus that it projects Starlab to cost $2.8 billion to $3.3 billion to develop.

So far it appears Voyager has built nothing. Instead it has used NASA’s preliminary money to do and redo its on-paper design of Starlab (compare the more recent design concept in the image on the right with this older image from 2022), which as a concept is intended to be launched whole on a single Starship launch. No metal has been cut. The company appears to be following the old big space company approach of investing nothing of its own in development.

This does not mean its station will be a failure, but I expect it will not launch as scheduled in 2029 if it wins that major NASA contract. The company will have to build it all in less than three years, something that I doubt it will be able to do.

My present rankings for the four proposed commercial stations:

  • Haven-1, being built by Vast, with no NASA funds. The company is moving fast, with Haven-1 to launch and be occupied in 2026 for an estimated 30 days total. It hopes this actual hardware and manned mission will put it in the lead to win NASA’s phase 2 contract, from which it will build its much larger mult-module Haven-2 station..
  • Axiom, being built by Axiom, has launched three tourist flights to ISS, with a fourth scheduled for early June, carrying passengers from India, Hungary, and Poland. Though there have been rumors it has cash flow issues, development of its first module has been proceeding more or less as planned.
  • Orbital Reef, being built by a consortium led by Blue Origin and Sierra Space. Overall, Blue Origin has built almost nothing, while Sierra Space has successfully tested its inflatable modules, including a full scale version, and appears ready to start building its module for launch.
  • Starlab, being built by a consortium led by Voyager Space, Airbus, and Northrop Grumman, with an extensive partnership agreement with the European Space Agency. It recently had its station design approved by NASA, but it has built nothing, and appears unwilling to cut any metal until it wins NASA’s full contract.
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Air Force issues draft approval of second SpaceX launchpad at Vandenberg

9:44 am

Air Force last week issued a draft environmental impact statement approving SpaceX’s plans to rebuild the old Space Launch Complex 6 (SLC-6, pronounced “slick-six”) at Vandenberg that was first built for the space shuttle (but never used) and later adapted for ULA’s Delta family of rockets, now retired.

The plan involves rebuilding SLC-6 to accommodate both Falcon 9 and Falcon Heavy launches, including the addition of two landing pads. With its already operational launchpad at Vandenberg, SLC-4E, the company hopes to increase its annual launch rate from 50 (approved by the FAA earlier this month) to as much as 100.

The estimated launch cadence between SpaceX’s existing West Coast pad at … SLC-4E and SLC-6 would be a 70-11 split for Falcon 9 rockets in 2026 with one Falcon Heavy at SLC-6 for a total of 82 launches. That would increase to a 70-25 Falcon 9 split in 2027 and 2028 with an estimated five Falcon Heavy launches in each of those years.

The draft assessment is now open to public comment through July 7, 2025, with a final version expected to be approved in the fall. It appears the Air Force wants it approved, as it needs this capacity for its own launch requirements. It also appears it no longer cares what the California Coastal Commission thinks about such things, as it has no authority and its members appear motivated not by environmental concerns but a simple hatred of Elon Musk.

An annual launch rate of 100 however exceeds what the FAA approved in May, doubling it. In order to move forward either the FAA will have to issue a new reassessment of its own, or some legislative or executive action will be needed to reduce this red tape. Since Vandenberg is a military base, the military in the end makes all the final decisions. The FAA simply rubber-stamps those decisions.

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Ispace borrows $35 million

9:01 am

Ispace landing map
Resilience’s landing zone in Mare Frigoris

The Japanese lunar lander startup Ispace announced last week that it has obtained a new bank loan totaling $35 million from the Japanese bank Mizuho to help pay its ongoing expenses as its Resilience lunar lander attempts the company’s second try at soft landing on the Moon.

The loan is intended to secure working capital for development of mission and other related expenses. Through this financing, ispace intends to strengthen the company’s liquidity position and stabilize its financial foundation, thereby enabling agile management decisions.

In other words, the company had started to run short of cash, and needed this loan to keep operating. It had previously gotten a government loan of almost $6 million, but that did not have to be paid back for ten years. Back in 2018 it raised $90 million in investment capital, followed by an additional $53 million in 2024.

This loan suggests that Ispace might be in serious financial trouble if Resilience fails to soft land on June 5, 2025, as presently planned. The company already has two future lander contracts, one with NASA and one with Japan’s space agency JAXA, but a second failure now might cause those agencies to have second thoughts.

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Two launches last night, by China and Rocket Lab

10:23 am

The high pace of rocket launches this year continued last night, but in a rare exception this time it had nothing to do with SpaceX.

First, the Chinese pseudo-company Landspace successfully placed six radar satellites into orbit, its upgraded version of its Zhuque-2 rocket lifting off from the Jiuquan spaceport in China’s northwest.

No word on where the rocket’s lower stages crashed inside China. Unlike its larger Zhuque-3 rocket, which has not yet flown but is being designed as a copy of a Falcon 9 with its first stage able to return to Earth vertically, the Zhuque-2 has no such ability.

Next, Rocket Lab successfully placed a commercial radar satellite into orbit, its Electron rocket lifting off from one of the company’s two launchpads in New Zealand. This launch was the third by Rocket Lab for the satellite company iQPS, and is the second in an eight-satellite launch contract with the company.

The leaders in the 2025 launch race:

59 SpaceX
27 China
6 Rocket Lab
5 Russia

SpaceX still leads the rest of the world in successful launches, 59 to 45.

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What satellite did the Varda capsule fly past during its return last week?

10:01 am

Other satellite passing under Varda's capsule
Click for video cued to this point.

Regular reader Rex Ridenoure emailed me today to note that there appears to be another satellite relatively nearby and visible in the video posted in yesterday’s quick links, taken from inside Varda’s capsule during its return to Earth.

The image to the right is a screen capture taken at 7:56 of the video. At that point the object is visible from 7:50 to 8:01 to the west and below. You can clearly see it moving from left to right (east to west). The two solar panels can also be discerned on either side of the satellite’s main body.

It later reappears for only two seconds in the lower right of the view window at 9:18, then is visible again at 10:30 to 10:33, now beginning to pass below but considerably to the north (?).

If anyone has the resources to identify this satellite, as well as its exact distance during this close approach, please comment below. It raises an interesting question on whether its existence was considered when the re-entry time was decided.

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FAA issues revised launch window and flight restrictions for future Starship test flights

11:00 am

Flight path for Starship's ninth test flight

Due to the breakup of Starship over the Atlantic during its last two test flights, the FAA today issued [pdf] revised launch window and flight plan restrictions for future flights, in an attempt to placate somewhat the concerns of the United Kingdom.

The map to the right, taken from the FAA assessment, shows in red the area where air traffic is impacted by the next Starship/Superheavy launch, now tentatively planned for next week. Note how the path threads a line avoiding almost all land masses, thus limiting the worst impact to just the Bahamas, the Turks & Caicos Islands. Though the launch will effect 175 flights and require one airport on these islands to close during the launch window, to minimize the impact the FAA has required that the launch window be scheduled outside peak travel periods.

At the same time, the FAA after discussions with the governments on these islands has approved this flight plan, noting that “no significant impacts would occur” due to the ninth flight.

The agency has not yet actually issued the launch license, but it will almost certainly do so in time for SpaceX’s planned launch date. Since the advent of the Trump administration the FAA has no longer been slow walking these approvals in order to retype the results of SpaceX’s investigation. Instead, as soon as SpaceX states it has satisfactorily completed its investigation, the FAA has accepted that declaration and issued a launch license. Expect the same this time as well.

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Premature fairing release cancels first launch of Gilmour’s Eris rocket

9:43 am

The Australian rocket startup has canceled any attempt to launch its Eris rocket during its present launch window as a result of the premature fairing release that occurred during the countdown yesterday.

Last night, during final checks, an unexpected issue triggered the rocket’s payload fairing. No fuel was loaded, no one was hurt, and early inspections show no damage to the rocket or pad.

While investigating the cause of this incident, the company will ship and install a replacement fairing from its factory. A new launch date will be announced after these actions are completed. Expect a delay of at least two months, likely more.

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SpaceX launches 26 Starlink satellites

9:34 am

SpaceX this morning successfully placed another 26 Starlink satellites into orbit, its Falcon 9 rocket lifting off from Vandenberg in California.

The first stage completed its second flight, landing on a drone ship in the Pacific, and doing so only 39 days after its first flight.

The leaders in the 2025 launch race:

59 SpaceX
26 China
5 Rocket Lab
5 Russia

SpaceX now leads the rest of the world in successful launches, 59 to 43.

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Gilmour scrubs launch attempt today

9:51 am

The Australian rocket startup Gilmour Space has scrubbed its first attempt to launch its Eris rocket from its own Bowen spaceport on the eastern coast of Australia.

Our team identified an issue in the ground support system during overnight checks. We’re now in an extended hold to work through it. Our next target is the Friday morning launch window.

The company has a two week launch window extending through the end of the month. If it can’t launch in that window then it will try again in the second half of June, assuming the bureaucracy of the Australian Space Agency issues a revised licence. It took that government three years to issue this license, so assuming it will work quickly to issue a revision is a dangerous thing.

The company is not providing a live stream of the launch, though it has said it will release a full video after the fact.

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Norway signs the Artemis Accords

9:37 am

Norway today became the 55th nation to sign the Artemis Accords, the second nation to do so since Donald Trump assumed the presidency.

The full list of nations now part of this American space alliance: Angola, Argentina, Armenia, Australia, Austria, Bahrain, Bangladesh, Belgium, Brazil, Bulgaria, Canada, Chile, Colombia, Cyprus, Czech Republic, Denmark, Dominican Republic, Ecuador, Estonia, Finland, France, Germany, Greece, Iceland, India, Israel, Italy, Japan, Liechtenstein, Lithuania, Luxembourg, Mexico, the Netherlands, New Zealand, Nigeria, Norway, Panama, Peru, Poland, Romania, Rwanda, Saudi Arabia, Singapore, Slovakia, Slovenia, South Korea, Spain, Sweden, Switzerland, Thailand, the United Kingdom, the United Arab Emirates, the Ukraine, the United States and Uruguay.

Unlike previous announcements, the only official public announcement (so far) was from the State Department. NASA has not yet issued its own statement. Also, and maybe far more important, unlike the previous announcement in April when Bangladesh signed, the text of the announcement made no mention of the Outer Space Treaty, as had been routinely stated during the Biden administration.

When Trump in his first term had created the Artemis Accords, the goal had been to create an American alliance of nations that supported private property and capitalism, which could also become strong enough to either get around the Outer Space Treaty’s restrictions on these concepts, or work to revise that treaty entirely to allow nations to establish such laws on other worlds. During Biden’s term that goal was abandoned. NASA announcements of new signatories would always state bluntly the exact opposite, that the accords were designed to support the Outer Space Treaty, using this language:

The Artemis Accords are grounded in the Outer Space Treaty and other agreements including the Registration Convention, the Rescue and Return Agreement, as well as best practices and norms of responsible behavior that NASA and its partners have supported, including the public release of scientific data.

Today’s State Department announcement makes no mention of the Outer Space Treaty at all, instead placing the focus on the accords’ principles of private enterprise.

With an alliance now of 55 nations (which is also likely to grow), the present Trump administration is well positioned to force some action on changing or eliminating the Outer Space Treaty’s limitations on private property and the ownership of territory on other worlds. Obviously this is not the most important item on Trump’s plate, but it does need to be addressed if Americans (and everyone else) are to have the freedom to establish colonies on other planets, protected by the same laws that protect Americans on Earth.

Hopefully the subtle language change seen today in this State Department press announcement is a signal that the Trump administration intends to do so.

UPDATE: It appears that NASA still wants this alliance to uphold the Outer Space Treaty. Late today it released its own press release announcing Norway’s signing, and included the boilerplate that I quote above that it began using during the Biden administration.

I wonder when (or if) Marco Rubio or any of the higher ups in the Trump administration (including Trump) will ever take an interest in this issue. So far it does not appear they have.

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Axiom’s next commercial manned flight to ISS delayed at least one week

9:06 am

NASA and Axiom have delayed the launch of the company’s fourth commercial manned flight to ISS by at least a week, from May 29 to June 8, at the earliest.

The NASA press announcement was decidedly vague about the reason:

After reviewing the International Space Station flight schedule, NASA and its partners are shifting launch opportunities for several upcoming missions. The schedule adjustments provide more time to finalize mission plans, spacecraft readiness, and logistics.

This report speculates that SpaceX might have had additional issues getting its brand new manned Dragon capsule ready on time, without out any clear evidence. The capsule has taken longer to build than originally predicted, but giving SpaceX one extra week seems insufficient if the capsule had some outstanding technical issues.

More likely it is exactly as NASA states, the delay is to accommodate the complex coming and going of vehicles to ISS.

The mission will launch one Axiom command pilot and three passengers, government astronauts from India, Poland, and Hungary.

This new manned Dragon, as yet unnamed, will bring SpaceX’s fleet of manned capsules to five, assuming it does not retire one of the older capsules. The company will thus have the largest manned spacecraft fleet ever, exceeding NASA’s four shuttle fleet that existed in the 1990s.

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SpaceX committing millions to develop the town of Starbase at Boca Chica

10:55 am

Even though the newly minted town of Starbase at Boca Chica is essentially a “company town,” with almost all its residents employees of SpaceX, the company is not treating the town in a traditional company town manner, which in the past meant the company used its monopoly control to the detriment of its employees.

Instead, it appears SpaceX is committing millions to develop the town of Starbase at Boca Chica into a very classy place to live.

The newly minted Starbase, Texas will soon have a $22 million community center, according to online records from the Texas Department of Licensing and Regulation. The community center is being designed by a Pennsylvania design firm called AE7, and will be located at 41028 Quicksilver Ave. immediately north of a bend in the Rio Grande. It will include a 20,000-square-foot building and pool, with construction aiming to start in June and be completed by June 2026, according to the TDLR records.

…Earlier this year, Starbase officials registered several other community projects with state regulators, including a $20 million school “housing children from infancy to grade 12,” whose construction was set to get underway in April. Other projects include a 2,555-square-foot medical clinic, a $2 million multifamily construction featuring a 111,745-square-foot “new parking garage and multifamily” development at 52163 Memes St.

SpaceX is also building a $100 million office building for its operations. It has also filed plans to create a $13.5 million recreation center and sushi restaurant. Another plan to build a $15 million retail plaza was proposed earlier, but has remained stalled.

Under the leadership of Elon Musk (“the new Hitler” according to the brainless Democratic Party and its media propagandists), the employees of SpaceX at Starbase will be living in an up-to-date modern and very upper middle class environment, comparable to the best suburban communities found anywhere in the United States.

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