Current:Home > MarketsMaine company plans to launch small satellites starting in 2025 -FundWay
Maine company plans to launch small satellites starting in 2025
View
Date:2025-04-18 23:00:49
PORTLAND, Maine (AP) — Representatives for a Maine company that plans to send small satellites into space from the Northeast’s most rural state said they will start launches next year.
Brunswick-based bluShift Aerospace hopes to turn Maine into a hub for the launching of commercial nanosatellites and has been making progress toward that goal for more than three years. A successful recent round of fundraising means a commercial suborbital launch is on track to start in 2025, company officials said Tuesday.
The small satellite market currently relies on large companies, such as Elon Musk’s SpaceX, for deployment of satellites, and that leads to long wait times, said bluShift CEO and founder Sascha Deri. Launching small satellites from Maine can change that, Deri said.
“We see an enormous need for dedicated, small-lift satellite deliveries to space,” Deri said, adding that customers are “seeking rapid, affordable access to space and direct delivery to their desired orbit.”
The company’s progress on launching small satellites is happening during a time of tremendous growth in the industry, company representatives said.
The concept of small satellites was essentially an academic exercise two decades ago and the technology has since become one of the fastest growing in the satellite industry, bluShift representatives said. The worldwide market for a class of small satellites called CubeSats was valued at $210 million in 2021 and is expected to be worth more than four times that by 2030, the company said.
bluShift plans to use a pre-existing spaceport for initial launches and begin using Maine’s rural, remote Downeast coastline as a headquarters for launches as soon as 2026, company officials said. The company said it thinks the rural coast is a good location because it provides launch opportunities over the Atlantic Ocean directly into polar orbit with little interference.
The company launched a 20-foot prototype rocket to an altitude of more than 4,000 feet in its first test run in 2021. The rocket simulated a small payload by carrying stroopwafels, Dutch cookies.
bluShift also said Tuesday that Brady Brim-DeForest, managing partner at Late Stage Capital of Houston, will become chairman of the board of directors. Brim-DeForest said the company’s use of non-toxic biofuel and reusable rockets will help with its mission of “democratizing access to orbit.”
veryGood! (48721)
Related
- Paris Hilton, Nicole Richie return for an 'Encore,' reminisce about 'The Simple Life'
- It took 50,000 gallons of water to put out Tesla Semi fire in California, US agency says
- Border Patrol response to Uvalde school shooting marred by breakdowns and poor training, report says
- Katy Perry Reveals Her and Orlando Bloom's Daughter Daisy Looks Just Like This Fictional Character
- Selena Gomez engaged to Benny Blanco after 1 year together: 'Forever begins now'
- Linebacker at Division II West Virginia State fatally shot on eve of game against previous school
- A teen accused of killing his mom in Florida was once charged in Oklahoma in his dad’s death
- Consumers are expected to spend more this holiday season
- Krispy Kreme offers a free dozen Grinch green doughnuts: When to get the deal
- The Glossier Hot Cocoa Balm Dotcom Sold Every 5 Seconds Last Winter: Get Yours Before It Sells Out
Ranking
- Warm inflation data keep S&P 500, Dow, Nasdaq under wraps before Fed meeting next week
- Jon Bon Jovi helps woman in crisis off bridge ledge in Nashville
- Florida school district must restore books with LGBTQ+ content under settlement
- Ulta & Sephora 24-Hour Sales: 50% Off Benefit Brow Pencil Alix Earle & Scheana Shay Use & $7.50 Deals
- Are Instagram, Facebook and WhatsApp down? Meta says most issues resolved after outages
- Border Patrol response to Uvalde school shooting marred by breakdowns and poor training, report says
- Average rate on a 30-year mortgage falls to 6.20%, its lowest level since February 2023
- Father of slain Ohio boy asks Trump not to invoke his son in immigration debate
Recommendation
Selena Gomez engaged to Benny Blanco after 1 year together: 'Forever begins now'
Utility ordered to pay $100 million for its role in Ohio bribery scheme
Father of slain Ohio boy asks Trump not to invoke his son in immigration debate
Francis Ford Coppola sues Variety over article about his 'unprofessional behavior'
Finally, good retirement news! Southwest pilots' plan is a bright spot, experts say
How to strengthen your pelvic floor, according to an expert
Nikki Garcia Seeks Legal and Physical Custody of Son Matteo Amid Artem Chigvintsev Divorce
US consumer sentiment ticks higher for second month but remains subdued