Astra Space, Inc. files definitive Information Statement: https://lnkd.in/dQEZUKyW
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Japan’s Canon Electronics shares fell as much as 12.7% on Wednesday after Tokyo-based Space One’s small rocket exploded just moments after its maiden launch. Reuters reported the solid-fueled Kairos rocket blew up just seconds after lifting off at 11:01 a.m. Japan time. If successful, Space One would have been Japan’s first company to put a satellite in orbit, according to Reuters. Space One was set up in 2018 by a consortium of Japanese companies including Canon Electronics, IHI Aerospace and construction firm Shimizu, along with the government-owned Development Bank of Japan. Mitsubishi UFJ and Mizuho Financial Group, two of Japan’s biggest banks, also own minority stakes in Space One. Space One’s shareholder companies fell after the failed launch. IHI and Shimizu fell about 1%, while the banks edged lower. Japan’s broader Topix index shed 0.5% in midday trading. Space One had postponed the launch, which was initially scheduled for Saturday. Space One has not disclosed launch costs, Reuters reported, adding that an executive previously said the company is “competitive enough” against American rival Rocket Lab. Since 2017, Rocket Lab has launched more than 40 of its “Electron” small rockets from New Zealand. — CNBC’s Michael Sheetz contributed to this story. Source link
Canon Electronics leads plunge among Japan's Space One shareholder companies after rocket explodes
https://news1110.com
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Prediction for 2024: More of these stories Space is exciting, but space is hard. Momentus, a company that aims to provide a “last-mile” transportation service for satellites already in orbit and was once celebrated for achieving a valuation as high as $1.4B, now has an enterprise value of just $10.4MM and is on the brink of failure. Many of the early-stage investors/VCs likely made a nice profit and took their chips off the table after the company went public via reverse merger/SPAC, but how did the company fare? When courting investors, founders need to be cognizant of potential misalignment of interests. Many VCs are incentivized to pressure their portfolio companies to pursue exits/liquidity as early as possible. This liquidity allows VCs to return capital to their LPs, in turn helping the VCs raise their next fund by showing strong DPI metrics (and for VCs, the earlier they can point to growing DPI in a fund lifecycle, the better). Sometimes, those early exits are achieved via reverse merger/SPAC, a kind of back door IPO. IPOs allows companies to tap public markets for capital and are widely considered the pinnacle mark of success for any VC-backed business. That access is a privilege, and was traditionally reserved for businesses that could prove they had staying power through historical performance and attractive growth potential, i.e. mature. SPACs provide a tempting workaround, allowing early-stage companies to access the public markets before they would have otherwise, and early-stage investors to cash out. SPAC activity peaked during the frenzy that began in 2020, a year that saw 248 SPAC IPOs. In 2021, that number was 613. For comparison, there were 59 SPAC IPOs in 2019, and an average of just 16.8 per year in the 10 years preceding. While some SPACs have certainly been successful, it is clear that many have not lived up to the hype. Here is a look at comparable Space SPACs and where they stand today: - Virgin Galactic (SPCE) - 2019 SPAC value: $2B; market cap today: $863MM - Astra (ASTR) - 2021 SPAC value: $2.6B; market cap today: $38MM - Spire (SPIR) - 2021 SPAC value: $1.6B; market cap today: $91MM - Satellogic (SATL): 2021 SPAC value: $1.1B; market cap today: $94MM - BlackSky (BKSY): $1.5B; market cap today: $186MM None of these companies are certain to fail. In fact, FVG is rooting for each one of these companies to succeed as market players work together to build a robust space ecosystem. To that end, it's important that companies and investors alike ensure alignment of interests. Momentus had other issues (link in comments), but we have to ask ourselves: did a capex-intensive space tech company, that had been around only 4 years and hadn't even successfully tested its technology in space, have any business trying to navigate the rigidity and scrutiny of the public markets to raise the capital it desperately needed to grow? It doesn't matter if Momentus eventually succeeds or not; the answer to that question is, "no."
Space company Momentus, once valued at more than $1 billion, is running dangerously low on money
cnbc.com
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📈 Trinity Capital. Backs Rocket Lab with $120 Million Financing... Trinity Capital Inc. has announced a significant commitment, offering $120 million in equipment financing to Rocket Lab USA, a pioneer in the space sector known for its comprehensive launch services and satellite technology. Key Highlights: 🔹Trinity Capital Inc. steps in with $120 million equipment financing for Rocket Lab USA. 🔹Rocket Lab, a leader in space launch services, boasts over 1,700 satellites integrated with its technology and 176 satellites deployed across 43 launches. 🔹This financing supports Rocket Lab's extensive $515 million contract with the Space Development Agency, underlining its role in advancing space innovation and technology. 🗣️ "Our partnership with Rocket Lab underscores our commitment to fostering groundbreaking technologies and advancing the capabilities of companies at the forefront of space innovation," - Kyle Brown, CEO of Trinity. The funds from Trinity will bolster Rocket Lab's expansion plans, enhancing their manufacturing, testing equipment, and R&D efforts to meet the surging demand for space services. How do you see this financial boost from Trinity Capital impacting the future of space technology and innovation? https://lnkd.in/eyqrhZnh #SpaceIndustry #Innovation #RocketLab #TrinityCapital #Finance #SatelliteTechnology
Trinity Capital Inc. Provides $120 Million Equipment Financing to Rocket Lab
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🚀 At the forefront of the African aerospace manufacturing industry, NewSpace Systems is breaking boundaries and pioneering new frontiers in technological advancements while contributing to economic growth on the continent. CEO, James Barrington-Brown, tells us more. 💬 Read here ➡ https://lnkd.in/dyX_g39M 🗣️“Robots excel in repetitive tasks for mass production, but we recognise that space-related manufacturing requires a more nuanced approach” With the rise and emergence of constellations entering the market, NewSpace Systems focuses on scaling up its ability to produce high-reliability equipment in large volumes. ✅ Contributors: Retronix - A Jabil Company For Manufacturing Outlook: Project Managers - Sam Patrick l Tom Arnold Writer - Rachel Carr Creative - Steve Giles l Devon Collins l Louisa M. SME - Jake Crickmore #manufacturing #manufacturingexcellence
NewSpace Systems : Enabling Exploration through Innovation - Manufacturing Outlook
https://www.mfg-outlook.com
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Supply chain to space and space manufacturing. It’s the new frontier we are crossing. https://lnkd.in/eQpM2Jv5 #spaceinnovation #supplychain #modernfreightcompany
Future of space supply chain is full of possibilities/challenges
stattimes.com
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I build spaceships and I control the weather! Our NASA award-winning technology will deliver earlier, 2X more accurate hurricane forecasts and improve all weather forecast models to reduce the cost of climate events.
Despite there only being one letter difference, SPAC and space do not mix. Once valued at nearly $2 Billion, Terran Orbital has sold for $600 million. Bad news for the space industry all around. Some of the greedy companies that went SPAC did so using revenue projections that were nowhere near achievable. Few space SPAC companies have increased their valuation after going public. Not delivering on revenue expectations causes investors to pull back from the industry. Also, it never ends well when a big company buys a New Space one. We used to have a lot of SmallSat, ADCS, reaction wheel and star tracker options. Now there are few reliable providers. https://lnkd.in/ecZVTaUs
Lockheed Martin looks to acquire spacecraft maker Terran Orbital for nearly $600 million
cnbc.com
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Space Machines Company is about to launch Optimus, the biggest satellite ever built in Australia. (Optimus is part of the next generation of space infrastructure: roadside assistance for satellites. There's a lot of space junk up there already; it's smarter and more sustainable to be able to inspect, repair, and upgrade orbiting satellites.) One of the key steps on the way was a collaboration with UTS Tech Lab, which created an innovation ecosystem around SMC's needs: * getting them access to state-of-the-art equipment they would otherwise have had to buy or rent * building a bespoke facility for their satellites * recruiting like-minded partners to become physical neighbours * connecting SMC with the right talent and expertise at the right time, from undergrad interns to PhD researchers to established world experts * adapting UTS's advanced research facilities to test prototypes and ensure the Optimus mission's success Congrats on all the success, and thanks for showing what a really good collab can look like Rajat Kulshrestha Roger Kermode Robert Fitch #phd #research #innovation #space #satellites #logistics #defense #spacesustainability
Exciting news! The countdown is on as Space Machines Company gears up to launch Optimus next month, and we're thrilled to be an integral part of their journey. Our collaboration with SMC is more than just a partnership; it's a testament to the power of innovation and collaboration in shaping the future of space exploration. Together, we're pushing the boundaries of what's possible, driving advancements in technology and paving the way for new discoveries beyond our atmosphere. Join us in celebrating this milestone and learn more about how our partnership with SMC is driving space innovation. 🚀✨ Rajat Kulshrestha Roger Kermode Robert Fitch #Collaboration #SpaceInnovation #UTSTechLab
Space Machines Company: When the stars align - UTS Tech Lab
techlab.uts.edu.au
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We are proud to share our recent collaboration with NewSpace Systems, a forward-thinking company that's pushing the boundaries of what's possible beyond our Earth. In striving to meet the increasing demands for satellite constellations, NewSpace Systems faced a challenge – the transition from producing a single satellite to assembling five or more at a time. This scale-up brought to light a critical issue: tin whiskers, a phenomenon that can lead to short circuits and failures in electronic components. Understanding the gravity of this, we stepped in to assist by transitioning their Bill of Materials (BOM) from lead-free to lead (Pb) alloy components. Where reliability and longevity are paramount, utilizing a Pb alloy is a practical solution to mitigate the risk of tin whiskers. This partnership not only underscores our commitment to providing practical and reliable solutions but also our ability to adapt and meet the needs of our partners in the dynamic field of space technology. It's a testament to the power of collaboration and the importance of addressing challenges with innovation. We are excited about the future of the space industry and honoured to play a part in enabling NewSpace Systems to continue their invaluable work. Here's to many more opportunities to learn, grow, and explore the final frontier together. #Innovation #Collaboration #SatelliteTechnology
🚀 At the forefront of the African aerospace manufacturing industry, NewSpace Systems is breaking boundaries and pioneering new frontiers in technological advancements while contributing to economic growth on the continent. CEO, James Barrington-Brown, tells us more. 💬 Read here ➡ https://lnkd.in/dyX_g39M 🗣️“Robots excel in repetitive tasks for mass production, but we recognise that space-related manufacturing requires a more nuanced approach” With the rise and emergence of constellations entering the market, NewSpace Systems focuses on scaling up its ability to produce high-reliability equipment in large volumes. ✅ Contributors: Retronix - A Jabil Company For Manufacturing Outlook: Project Managers - Sam Patrick l Tom Arnold Writer - Rachel Carr Creative - Steve Giles l Devon Collins l Louisa M. SME - Jake Crickmore #manufacturing #manufacturingexcellence
NewSpace Systems : Enabling Exploration through Innovation - Manufacturing Outlook
https://www.mfg-outlook.com
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The commercial space industry continues to see pioneering companies pursue seemingly unbelievable ventures, once reserved for nation-state space agencies. One such arena garnering increasing attention is "manufacturing in space." This article explores the viability of both aspirational and near term in orbit space manufacturing. https://lnkd.in/e4fVWQx3
Manufacturing in Space
medium.com
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