Thursday, June 12, 2025

Voyager Technologies' big day on Wall Street

Plus: The supply chain problems facing the Space Development Agency
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By Jeff Foust


In this today's edition: Voyager's big public debut, more GAO concerns about SDA's satellite constellation efforts, Oklahoma buys a spaceplane and more. 


If someone forwarded you this edition, sign up to receive it in your inbox every weekday. Have thoughts or feedback? You can hit reply to let me know directly.


Top Stories


Shares in Voyager Technologies soared in its initial public offering (IPO) Wednesday. The company raised $383 million by selling shares at $31 each. Those shares closed up more than 80% at $56.48. Company executives said the proceeds of the IPO would go toward efforts in both defense and space, from the Starlab commercial space station to potential roles in the Golden Dome missile defense system. The company also said going public would make it easier to use its stock in future acquisitions. Investors said the successful IPO could open the door for other space companies to go public. [SpaceNews]


Sierra Space is increasing its focus on defense business. The company announced Wednesday the creation of Sierra Space Defense, a division focused on national security programs that will be led by Erik Daehler, a former Lockheed Martin executive. The new division comes as the company has won $1.5 billion in classified and unclassified defense work since 2023. To support expected growth in defense orders, the company plans to build a new 60,000-square-foot manufacturing facility dubbed "Victory Works" in Centennial, Colorado. [SpaceNews]


The Space Development Agency's satellite constellation is still facing supply chain problems. A GAO report released Wednesday found that the companies working on the SDA's Proliferated Warfighter Space Architecture (PWSA) are suffering continued shortages in a key area: optical communications terminals. The Transport Layer Tranche 1 alone requires more than 500 of these terminals, but as of January, only 20 had been delivered. The agency noted that SDA has provided additional funding to terminal manufacturers to scale up production. The launch of Tranche 1 satellites has slipped from fall 2024 to summer 2025. The GAO also does not appear to be satisfied that SDA is doing enough to demonstrate it has a "minimum viable product" before deploying the next tranche, part of a debate between the GAO and SDA on the level of testing needed. [SpaceNews]


Integrate, a Seattle-based software startup, has won a $25 million Space Force contract. The award, announced Wednesday, is for the company's project management platform designed to help large organizations coordinate complex projects in secure environments. The software will be used by the Space Systems Command's Mission Manifest Office in Los Angeles to streamline how it coordinates satellite launches across multiple government agencies. The contract represents one of the Space Force's largest Small Business Innovation Research Phase 3 agreements. [SpaceNews]


Dawn Aerospace has signed the first deal for its Aurora Mark 2 suborbital spaceplane. The New Zealand company said it closed a deal with the Oklahoma Space Industry Development Authority for a spaceplane, an agreement that also includes one year of operations from the Oklahoma Air and Space Port, starting as soon as 2027. Dawn announced in May it would start selling Aurora, an uncrewed vehicle that can take small payloads to an altitude of 100 kilometers. The company said it expects strong interest in Aurora for microgravity research, technology validation and other applications. [SpaceNews]


Other News


Rocket Lab launched the third radar imaging satellite for a Japanese company in three months. An Electron rocket lifted off at 11:31 a.m. Eastern on Wednesday from New Zealand and placed the QPS-SAR-11 satellite into orbit. The satellite is the latest in a constellation being developed by iQPS, which launched two other satellites on Electron in March and May. The three satellites are part of a multi-launch contract between Rocket Lab and iQPS that extends into 2026. [SpaceNews]


A government grant and private investment is propelling a Canadian launch startup. Reaction Dynamics received $8 million Canadian ($5.9 million) from the province of Quebec this week to aid development of a hybrid rocket engine. That engine will be first used on a suborbital rocket launching later this year, followed by an orbital launch in 2027 or 2028. The company said its focus is "ultra-responsive launch" with the goal of launching a satellite within a few days. In addition to the Quebec award, Reaction Dynamics has secured private funding, including $1 million from the "Meet the Drapers" reality TV show. [SpaceNews]


BAE Systems has partnered with South Korean conglomerate Hanwha Systems on technology for an intelligence satellite constellation.  The companies said this week they will explore combining Hanwha's SAR expertise with BAE's ultra-wideband radio frequency (RF) technology for the multi-sensor network called Azalea. The collaboration follows a similar agreement BAE announced with Finnish SAR operator Iceye in 2022, when it unveiled plans for Azalea and a target to launch its first four-satellite cluster with SpaceX in 2024. Those satellites are now expected to launch this year. [SpaceNews]


Japan is gearing up for the first launch of a new cargo spacecraft. The Japanese space agency JAXA showed off this week the first HTV-X spacecraft, scheduled to launch later this year on an H3 rocket. HTV-X is an upgraded version of the HTV spacecraft to transport cargo to the International Space Station. JAXA expects to perform five HTV-X missions through 2029. [Yomiuri Shimbun]


A European spacecraft has taken the first images of the south polar regions of the sun. ESA released Wednesday images of the south pole of the sun from the Solar Orbiter spacecraft, whose inclined orbit allows it to see the sun's poles. Scientists hope that being able to observe the poles will allow them to better understand the sun's magnetic field as well as solar storms. [BBC] 


Why Not Uranus?


"Why do we do this? Well, Uranus is weird — so why not?"


– Christian Soto of the Space Telescope Science Institute, discussing at a press conference this week plans to monitor Uranus using the James Webb Space Telescope. [Space.com]


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