Firefly hopes to raise more than $600 million in initial stock offering

The rocket startup and lunar lander company Firefly yesterday posted details about its initial public stock offering, designed to hopefully raise more than $600 million.

Firefly Aerospace, a market leading space and defense technology company, today announced that it has launched the roadshow for its proposed initial public offering of 16,200,000 shares of its common stock. In addition, Firefly intends to grant the underwriters a 30-day option to purchase an additional 2,430,000 shares of its common stock at the initial public offering price, less underwriting discounts and commissions. The initial public offering price is expected to be between $35.00 and $39.00 per share.

The company stated it would use the money “to repay outstanding borrowings under its credit agreement, pay any accrued and unpaid dividends on certain series of its preferred stock, and for general corporate purposes.”

The company has not yet announced the date when this stock offering will become available for purchase.

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Chinese pseudo-company launches classified payload

The Chinese pseudo-company Ispace successfully placed a classified payload into orbit today, its solid-fueled Hyperbola-1 rocket lifting off from the Jiuquan spaceport in northwest China.

This was the first launch by Ispace since July 2024, following a launch failure. Not only did China’s state-run press say nothing about the payload, no information about where the rocket’s lower stages crashed inside China was provided.

The leaders in the 2025 launch race:

93 SpaceX
39 China
10 Rocket Lab
9 Russia

SpaceX still leads the rest of the world in successful launches, 93 to 68.

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Galaxies without end

Galaxies without end
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Cool image time! The picture to the right, reduced and enhanced to post here, was taken by the Hubble Space Telescope as part of a monitoring program studying the two supernovae that have occurred in this galaxy previously.

Hubble has turned its attention toward NGC 1309 several times; previous Hubble images of this galaxy were released in 2006 and 2014. Much of NGC 1309’s scientific interest derives from two supernovae, SN 2002fk in 2002 and SN 2012Z in 2012. SN 2002fk was a perfect example of a Type Ia supernova, which happens when the core of a dead star (a white dwarf) explodes.

SN 2012Z, on the other hand, was a bit of a renegade. It was classified as a Type Iax supernova: while its spectrum resembled that of a Type Ia supernova, the explosion wasn’t as bright as expected. Hubble observations showed that in this case, the supernova did not destroy the white dwarf completely, leaving behind a ‘zombie star’ that shone even brighter than it did before the explosion. Hubble observations of NGC 1309 taken across several years also made this the first time the white dwarf progenitor of a supernova has been identified in images taken before the explosion.

The image however carries a far more philosophic component. Except for the star near the top (identified by the four diffraction spikes), every single dot and smudge you see in this picture is a galaxy. NGC 1309 is about 100 million light years away, but behind it along its line of sight and at much greater distances are innumerable other galaxies, so many it is impossible to count them. And each is roughly comparable in size to our own Milky Way galaxy, containing billions of stars.

The scale of the universe is simply impossible to grasp, no matter how hard we might try.

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South Korea transfers its government-built Nuri rocket to private company

Capitalism in space: South Korea’s space agency KARI has now completed the transfer of its government-built Nuri rocket to the private South Korea company Hanwha Aerospace.

The transfer includes a total of 16,050 technical documents. While some 2 trillion won ($1.45 billion) in public funds was invested in developing the Nuri rocket, the two sides agreed on a technology transfer fee of 24 billion won, based on direct research and development costs. The agreement comes nearly two years and 10 months after Hanwha Aerospace was selected as the preferred negotiator.

Under the contract, Hanwha Aerospace has secured exclusive rights to lead Nuri production until 2032, which coincides with the government’s target for the next-generation Korean launch vehicle. [emphasis mine]

The highlighted phrase is important, as it shows that this transfer is not completely shifting space development and ownership from the government to the private sector. Hanwha is going to operate the rocket, but it does not appear to own it, nor is it clear it will be allowed to market it to others for profit. Furthermore, it is not Hanwha but KARI that will be developing the next-generation rocket, using government funds.

The dominance of the South Korean government is also reflected in the cost, as the article notes that the Nuri rocket costs “per kilogram … about 10 times that of SpaceX’s reusable Falcon 9.” Like all governments, KARI was not focused on profit in developing Nuri, so it built a rocket uncompetitive in the present launch market.

Still, this deal indicates the South Korean government’s recognition that it must foster a robust private sector aerospace industry if it truly wishes to enter the space age. This deal is thus just a first step.

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Bankrupt balloon company Space Perspective bought by European company

The bankrupt high-altitude balloon company Space Perspective has now been purchased by the Spanish balloon startup Eos X Space.

Space Perspective “will operate with full autonomy, under U.S. leadership and corporate structure,” Eos X Space representatives said in an emailed statement on Thursday (July 24). Space Perspective’s efforts will dovetail with those of Madrid-based Eos X Space, an aerospace outfit founded in 2020 that has been working on a balloon-tourism system of its own.

Eos X is one of three Spanish balloon startups, all vying to provide high altitude flights to tourists, with the other two companies being Zero-2 and Halo. All three have been in a long legal fight, with the latter two indicted in 2023 over the theft of Eos X’s balloon concept. In an earlier legal action, Zero-2 claimed its concept was stolen by Eos X.

None, including Space Perspective, has as yet actually flown any tourists.

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Another two launches by SpaceX and China

There were two more launches last night and today. First, SpaceX put another 24 Starlink satellites into orbit, its Falcon 9 rocket lifting off from Vandenberg in California. The first stage completed its 19th flight, landing on a drone ship in the Pacific.

Next, China today successfully launched another five satellites in its planned Guiwang (“king”) internet constellation of 13,000 satellites, its Long March 6 rocket lifting off from its Taiyuan spaceport in northern China. No word on where the rocket’s lower stages crashed inside China.

This launch brought the total number of operational satellites in orbit for this constellation to 39, all launched since December 2024. At this pace it will take many years for China to complete this constellation, though it likely can begin selling the service in China with an incomplete constellation. Its international licence requires it to launch 10% by 2029 and 50% by 2032.

The leaders in the 2025 launch race:

93 SpaceX
38 China
10 Rocket Lab
9 Russia

SpaceX now leads the rest of the world in successful launches, 93 to 67.

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Texas Space Commission hands $5 million to proposed spaceport in the middle of Texas

US and Mexico
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In what can only be seen by anyone with any objectivity as a political payoff that has no chance of ever producing anything worthwhile, the Texas Space Commission (TSC) has given the Midland International Air and Space Port a $5 million grant to develop its proposed spaceport for vertical rockets in the middle of west Texas.

The spaceport is one of three facilities — along with ILC Aerospace in Houston and SylLab Systems in Plano — that received grant funding as part of the Space Exploration and Aeronautics Research Fund (SEARF). The SEARF provides funding to eligible companies, including government entities that the TSC is partnered with, to fund such purposes as technology development, research, workforce training, curation of materials and development of infrastructure. In its history, the SEARF fund has provided $126 million worth of grant money to 22 different projects.

…Although requested and managed by the city of Midland, the vertical launch site will be in Balmorhea in Reeves County, around the same site as the International Rocket Engineering Competition earlier this summer. The area can currently support suborbital rocket launches, but the vertical launch site is expected to support orbital flight, which will complement their horizontal launch system and high speed corridor for hypersonic flight.

The map to the right shows the location of Midland and Balmorhea. As you can see, this site makes no sense for vertical rocket launches, unless every rocket launched from the site is completely reusable. Even then, it faces major political hurdles to get permission to fly rockets over all the neighboring communities and states. The FAA would certainly have doubts.

In other words, this $5 million grant is a nice pay-off from one government agency to another, with its only purpose to spread some graft around.

That the Hearst-owned Midland Reporter-Telegram news article at the link recognizes none of this, and simply and naively spouts the propaganda put forth by government officials, once again illustrates the bankruptcy of our so-called “mainstream” press.

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One of NASA’s two Tracers satellites just launched has an issue

During the commissioning phase shortly after their launch earlier this week, one of NASA’s two Tracers satellites designed to study the solar wind and its interaction with the Earth’s magnetic field has had an as yet unnamed issue.

During the commissioning process, the team made routine adjustments to the power subsystem on both vehicles. While the adjustments achieved the desired results on one satellite, the other satellite requires further investigation by the team. Commissioning operations are temporarily paused while the team analyzes the situation and determines the appropriate response.

Though the press release provides no other information, it appears the satellite is having a problem producing the power expected.

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NASA’s work force is shrinking by about 4,000

The number of NASA employees that have accepted the Trump offer to leave has now grown to more than 4,000 people, reducing the entire workforce from 18,000 to 14,000.

Nearly 4,000 employees, or more than 20% of NASA’s workforce, have applied to leave the agency, NASA confirmed to CBS News Friday. About 3,870 employees have applied to depart NASA over two rounds through the Trump administration’s deferred resignation program, NASA disclosed. The deadline for applications to the program is midnight Friday.

With those deferred resignations, NASA’s civil servant workforce would shrink from about 18,000 to 14,000 personnel. This figure also includes about 500 employees who were lost through normal attrition, the agency said.

It is certain that while Trump is office these workers will not be replaced. While most of the press and pro-government activists will claim this is terrible news, it is actually the best thing that can happen. Since NASA is now trying to use the capitalism model across the board, it doesn’t need that many employees. It is hiring the private sector to do most of its work. It doesn’t take that many people to review and issue a contract.

So, even if Congress rejects Trump’s proposed 24% cut to NASA’s 2026 budget and funds it entirely at the same levels as in 2025, the money will be more effectively used.

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Europe and SpaceX complete two launches late yesterday

Both Europe and SpaceX successfully completed launches in the early morning hours today.

First Arianespace, the European Space Agency’s (ESA) commercial arm, used Avio’s Vega-C rocket lifting off from French Guiana to put five satellites into orbit, including four high resolution Earth observation satellites and one climate satellite. This was only the third launch for Arianespace in 2025, two of which were of the Vega-C.

Next, SpaceX placed 28 Starlink satellites into orbit, its Falcon 9 rocket lifting off from Cape Canaveral. The first stage completed its 22nd flight, landing on a drone ship in the Atlantic.

The leaders in the 2025 launch race:

92 SpaceX
37 China
10 Rocket Lab
9 Russia

SpaceX now leads the rest of the world in successful launches, 92 to 66, with another Starlink launch scheduled for tonight.

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Mars and its two moons seen in the infrared by Europa Clipper

Mars and its two moons
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Cool image time! The infrared image to the right, cropped, reduced, and enhanced to post here, was taken by Europa Clipper on February 28, 2025 just before it flew past Mars on its way to Jupiter.

Deimos is in the upper left corner, while Phobos is close to Mars.

When the image was taken by the mission’s Europa Thermal Emission Imaging System (E-THEMIS), the spacecraft was about 560,000 miles (900,000 kilometers) from the Red Planet. The image is composed of 200 individual frames, part of a continuous scan of 1,100 frames taken roughly a second apart over a period of 20 minutes. Scientists are using the tiny, point-like images of the moons to check the camera’s focus.

As this is an infrared image (measuring heat), it shows Mars’ northern polar cap as the dark oval at the top of the planet. The bright (and thus warmer) oval to the lower left is the shield volcano Elysium Mons.

This data suggests Europa Clipper’s thermal instrument is working as intended, which is essential for observing the ice content (if any) on Europa once it enters Jupiter orbit in 2030.

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Dassault lobbies ESA to fund its Vortex reusable mini-shuttle

Dassault's proposed Vortex mini-shuttle
Dassault’s proposed Vortex mini-shuttle. Click for original.

The French aerospace company Dassault is now lobbying the European Space Agency to help finance its proposed Vortex reusable mini-shuttle, comparable in concept to Sierra Space’s Dream Chaser spacecraft.

The company had first announced this project in June.

While the June announcement included few details, a 25 June hearing of the French National Assembly’s Committee on National Defence and the Armed Forces revealed that the mission is expected to be launched in 2027 aboard a Rocket Lab Electron rocket. The hearing also disclosed that the demonstration mission has a total budget of €70 million, with Dassault providing more than half of the funding and the remainder coming from the French government.

Dassault is now attempting to get more funding from ESA. In June it had signed an agreement with ESA to partner on building a demonstrator, but it was not clear that agreement included funding. It certainly did not include funding for the full scale operational mini-shuttle.

Overall, the structure of funding and the design of the project is good, and demonstrates again Europe’s sharp shift to the capitalism model in the past two years. Dassault will design, build, and (most importantly) own the shuttle, allowing it to market it to many customers. It is also committing a significant amount of its own funds to the project. The funding from France and possibly ESA appears mostly that of a customer buying the services of this product from the company.

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