Current:Home > MarketsMaine company plans to launch small satellites starting in 2025 -CapitalCourse
Maine company plans to launch small satellites starting in 2025
View
Date:2025-04-11 20:43:16
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! (2)
Related
- What were Tom Selleck's juicy final 'Blue Bloods' words in Reagan family
- Surreal April 2024 total solar eclipse renews debunked flat Earth conspiracy theories
- Who won best picture at the Oscars? Al Pacino's announcement sparks confusion
- Luke Burbank on taking spring ahead to the next level
- Tom Holland's New Venture Revealed
- Two National Guard soldiers, Border Patrol agent identified after deadly helicopter crash
- Beached sperm whale dies after beaching along Florida’s Gulf Coast
- Ryan Gosling greets fans, Vanessa Hudgens debuts baby bump: The top Oscars red carpet moments
- Friday the 13th luck? 13 past Mega Millions jackpot wins in December. See top 10 lottery prizes
- Meg Ryan Stuns in Rare Red Carpet Moment at Vanity Fair 2024 Oscars After-Party
Ranking
- Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Triathlon
- Billie Eilish and Finneas Break 86-Year Oscars Record With Best Original Song Win
- Best dressed at the Oscars 2024: Lupita Nyong'o, America Ferrera, Zendaya, more dazzling fashion looks
- Sophia Bush and Ashlyn Harris Make Debut as a Couple at Elton John's 2024 Oscars Party
- Will the 'Yellowstone' finale be the last episode? What we know about Season 6, spinoffs
- Oscars 2024: Ryan Gosling Reunites With Barbie's Kens for I’m Just Ken Performance
- Former Uvalde mayor is surprised a new report defends how police responded to school shooting
- Kate Middleton Breaks Silence on Edited Family Photo Controversy
Recommendation
Nevada attorney general revives 2020 fake electors case
NFL free agency QB rankings 2024: The best available from Kirk Cousins to Joe Flacco
Taylor Swift and Travis Kelce Make Surprise Appearance at Madonna's Oscars 2024 After-Party
Biden is issuing a budget plan that details his vision for a second term
Megan Fox's ex Brian Austin Green tells Machine Gun Kelly to 'grow up'
Jimmy Kimmel fires back after Trump slams 'boring' Oscars: 'Isn't it past your jail time?'
Sleep Better With Sheets, Mattresses, and More Bedroom Essentials for Sleep Week 2024
How soon will the Fed cut interest rates? Inflation report this week could help set timing