Space Economy

Kayhan Space has named seasoned military and space intel veteran Mark Mueller as Vice President of Government Growth to lead the company’s development and delivery of Space Domain Awareness (SDA) and Action, plus Offensive and Defensive Space Control solutions for a range of classified and unclassified Government missions. 

Helicity Space, a commercial space company developing in-space propulsion and power technology based on fusion power, has announced an investment from Lockheed Martin Ventures, the venture capital arm of Lockheed Martin. This latest raise from Lockheed Martin Ventures comes on the heels of a $5 million seed round of Helicity Space funding from investors including Airbus Ventures, TRE Ventures, Voyager Space Holdings, E2MC Space, Urania Ventures and Gaingels in December.

Al Yah Satellite Communications Company has announced the appointment of Amit Somani as Chief Growth and Strategy Officer. Mr. Somani, a veteran of the satellite communications industry, rejoins Yahsat with over 27 years of experience in satellite communications and management consulting. He already has extensive knowledge of Yahsat across various roles during his previous tenure with the company from 2010 to 2022. These included Vice President of Strategy and Business Development and, most recently, Chief Strategy Officer from 2014 to 2022.

Planet Labs PBC has signed a multi-year data-license agreement with Carbon Mapper, Inc. to provide hyperspectral core imagery to the non-profit and its partners until 2030. The $20 million agreement is made possible by initial funding led by a major climate philanthropy. Carbon Mapper, Inc. has been a key partner to Planet in developing the Tanager hyperspectral constellation, and this contract extension marks an important step in the continuation of the coalition’s shared mission to help improve understanding of and accelerate reductions in global methane and carbon dioxide (CO2) emissions.

Telesat has announced that it received a letter from Canada’s Minister of Innovation, Science and Industry regarding an investment in Telesat Lightspeed. The letter states that following several months of negotiations between Telesat and federal officials, the Government of Canada (GoC) is prepared to invest C$2.14 billion in Telesat Lightspeed by way of a loan to Telesat LEO Inc., a wholly owned subsidiary of Telesat, that is developing and will own and operate the highly advanced Telesat Lightspeed Low Earth Orbit (LEO) global broadband satellite constellation.

SKY Perfect JSAT Corporation has announced its decision to invest 10 billion yen in domestic and international space-related startups and space venture funds. In addition to this investment, SKY Perfect JSAT will collaborate with the acceleration program “AXELA” from the SPACETIDE Foundation. This collaboration aims to combine SKY Perfect JSAT’s accumulated insights and assets with the new technologies of startups, fostering the co-creation of new space businesses for a sustainable future.

Vast, a space habitation technologies company, has announced the appointment of Clay Mowry as its newest Advisor. Mowry’s career spans over two decades in the commercial launch, satellite, and space station sectors. Furthermore, as President of the International Astronautical Federation (IAF), Mowry is a globally recognized leader in the space community, within industry and government alike.

In this episode of Space Café Radio, Christian Schmierer and Mario Kobald, the co-founders and CEOs of HyImpulse,  discuss their upcoming suborbital rocket launch from Australia and the unique hybrid rocket technology they are using. 

Spire Global, Inc. has announced an agreement with HANCOM InSpace (“Hancom”), initially a spin-off by Korea Aerospace Research Institute and now a part of HANCOM Group, for Sejong-2 and Sejong-3, two additional satellites with Spire Space Services. Under this agreement, Spire will build and operate the satellites, expanding the capabilities of HANCOM-1 (Sejong-1). Together, these satellites will form a constellation for Korea’s first three-satellite remote sensing image data service.

Ingersoll Rand Inc. has entered into an agreement to acquire ILC Dover (ILC) from New Mountain Capital, LLC, a growth-oriented investment firm with approximately $50 billion in assets under management. The deal includes an upfront cash purchase price of approximately $2.325 billion and an earnout tied to the achievement of select operating efficiency metrics in 2024. At its maximum payout, the earnout increases the 17x upfront purchase multiple by less than one turn.