Space

China’s iSpace progresses with IPO strategy, reusable launcher landing leg assessments

Summary

Chinese private rocket corporation iSpace is preparing an IPO while still making strides on the reusable launch vehicle technology. iSpace Corporation, which is based in Beijing, is planning to register an initial public offering to fund software firms on the Science and […]

Chinese private rocket corporation iSpace is preparing an IPO while still making strides on the reusable launch vehicle technology. iSpace Corporation, which is based in Beijing, is planning to register an initial public offering to fund software firms on the Science and Technology Innovation Board (STAR Market),  a market set up in the year 2019. The January 12 (Chinese) move identifies CITIC Securities and Tianfeng Securities as the advisory firms announced by the STAR Market. As per Xinhua, the STIB was founded to concentrate on firms in high-tech and strategic emerging industries and promote Chinese science and technology innovation. Interstellar Glory Space Technology Ltd. of Beijing, also referred to as iSpace, was the first, nominally non-governmental, Chinese corporation to deploy a satellite into space, which occurred in 2019 July. 

After takeoff from Jiuquan, the national launch site, the firm’s Hyperbola-1 4-stage solid rocket, which has a height of 20.8 meters, sent two satellites into the low Earth orbit. In 2020, to finance the production of the latest generation of the launch vehicles as well as the reusable methalox engines, the firm generated $173 million in the Series B round financing. A liquid oxygen-methane launcher, which has a diameter and height of 3.35 meters and 28 meters respectively, labeled Hyperbola-2, is currently being developed by iSpace. Hyperbola-2 will have the capability to deliver more than 1,100 kilograms of the payload to the Sun-synchronous orbit of about 500 kilometers, or around 800 kilograms for recovery as well as reuse of the very first stage.

Last May, the launcher’s thrust JD-1 engine performed a hot fire evaluation, which lasted 200-second. As launch firms continue to draw interest as well as investment China’s NewSpace rivals Landspace ($175 million) as well as Galactic Energy ($29.9 million), have received financing in the year 2020. The Chinese launch, as well as small satellite industries, was opened to the private capital through a 2014 central government strategy reform.  Approximately 20 launch vehicle-related companies in China have been founded since then. A nationwide civil-military merger policy is funding these commercial launch firms.

To encourage creativity in a dual-use technology involves promoting the transition of restricted innovations to licensed companies. The State Administration supervises the operations for Science, Technology, and Industry for National Defense (SASTIND). Local and provincial governments also offer space firms support as they seek to recruit high-end and innovative technology businesses.