Sidus Space, Inc. (SIDU) secured $14.1 million in a recent funding round. While the company is progressing well with its LizzieSat-2 satellite, slated for launch in December 2024, its shares fell 7.10% in premarket trading. The funds will be used for working capital and general corporate purposes.
ISRO successfully tested its upgraded CE20 cryogenic engine, demonstrating crucial restart capabilities and enhanced thrust for future missions like Gaganyaan. This breakthrough marks a significant leap in India’s space propulsion technology.
The Exploration Company (TEC) has raised $160 million in funding to advance its reusable space capsule, Nyx, designed for transporting astronauts and cargo. This investment fuels the burgeoning private space race, positioning TEC as a key player alongside SpaceX and others.
The Canadian Space Agency (CSA) announced that Kepler Communications Inc. has been selected as the prime contractor for the European Space Agency’s (ESA) HydRON-DS mission, further solidifying Canada’s prominent role in international space exploration. This collaboration brings significant opportunities for Canadian companies to contribute their expertise and benefit from the European market. Other Canadian companies, such as SBQuantum, C-CORE, and ABB, are also securing key roles in ESA projects, showcasing Canada’s thriving space industry.
Sidus Space, Inc. (SIDU) saw its shares take a hit on Tuesday following the announcement of a share offering. However, the company also received FCC approval for its micro constellation of satellites, a significant milestone in its growth strategy.
The Bengaluru Space Expo 2024, a biennial international exhibition hosted by the Confederation of Indian Industry (CII) and the Indian Space Research Organization (ISRO), is set to take place from September 18 to 20, offering a glimpse into the exciting world of space technology. With over 250 delegates and companies from across the globe, the expo promises a platform for industry leaders, innovators, and enthusiasts to connect and discuss the latest developments in the space sector.
NASA has released the first image of its Advanced Composite Solar Sail System, a groundbreaking technology that could revolutionize spacecraft propulsion. The sail, successfully unfurled in space, is a large, reflective sheet that harnesses the pressure of sunlight for acceleration. While the initial image shows a slightly distorted view due to the spacecraft’s tumbling, it provides a glimpse into this exciting future of space travel.
AST SpaceMobile, Inc. (ASTS) announced plans to offer up to $400 million worth of Class A common stock, leading to a significant drop in share price. The company will use the proceeds for general corporate purposes, including its upcoming satellite launch. This offering comes alongside the company’s expected $155 million from warrant redemptions, putting its total cash at over $440 million.
Sidus Space, a company focused on space technology, reported a loss of 99 cents per share and $927,570 in revenue for the second quarter. The decline in revenue was attributed to the timing of satellite-related payments and higher depreciation costs. However, the company achieved a significant milestone with the successful commissioning of its first satellite, LizzieSatTM (LS-1). Despite the loss, Sidus Space shares climbed nearly 45% during the regular session, likely due to investor anticipation of the earnings release.
USPACE Technology Group has signed a strategic partnership agreement with the Egyptian Space Agency (EgSA) to expand its business presence in the African space market. The partnership includes plans for a joint venture in Cairo, satellite manufacturing and testing centers, and a globally oriented space laboratory. This move signifies USPACE’s commitment to building a complete aerospace ecosystem in Africa, leveraging EgSA’s existing infrastructure and expertise.
