Current:Home > MarketsMaine company plans to launch small satellites starting in 2025 -Ascend Finance Compass
Maine company plans to launch small satellites starting in 2025
Rekubit View
Date:2025-04-11 08:02:57
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! (7)
Related
- A South Texas lawmaker’s 15
- Report: ESPN used fake names to secure Sports Emmys for ‘College GameDay’ on-air talent
- Lisa Marie Presley’s Memoir Set to be Released With Help From Daughter Riley Keough
- Plan for Gas Drilling Spree in New York’s Southern Tier Draws Muted Response from Regulators, But Outrage From Green Groups
- Sam Taylor
- Robert Downey Jr. Reacts to Robert De Niro’s Golden Globes Mix-Up
- Bill Belichick's most eye-popping stats and records from his 24 years with the Patriots
- Free Popeyes: Chicken chain to give away wings if Ravens, Eagles or Bills win Super Bowl
- What do we know about the mysterious drones reported flying over New Jersey?
- US adults across racial groups agree the economy is a top priority, AP-NORC and AAPI Data polls show
Ranking
- Why Sean "Diddy" Combs Is Being Given a Laptop in Jail Amid Witness Intimidation Fears
- First endangered Florida panther death of 2024 reported after 13 killed last year
- What we know about ‘Fito,’ Ecuador’s notorious gang leader who went missing from prison
- Recalled charcuterie meats from Sam's Club investigated for links to salmonella outbreak in 14 states
- McConnell absent from Senate on Thursday as he recovers from fall in Capitol
- Learning How to Cook? You Need These Kitchen Essentials in 2024
- What is a spot bitcoin ETF, and how will its approval by the SEC impact investors?
- Microsoft lets cloud users keep personal data within Europe to ease privacy fears
Recommendation
Which apps offer encrypted messaging? How to switch and what to know after feds’ warning
Michigan basketball's leading scorer Dug McDaniel suspended for road games indefinitely
213 deaths were caused by Japan’s New Year’s quake. 8 happened in the alleged safety of shelters
'Mommy look at me!': Deaf 3-year-old lights up watching 'Barbie with ASL'
Paris Hilton, Nicole Richie return for an 'Encore,' reminisce about 'The Simple Life'
Alabama's challenge after Nick Saban: Replacing legendary college football coach isn't easy
What is Hezbollah and what does Lebanon have to do with the Israel-Hamas war?
Patriots parting with Bill Belichick, who led team to 6 Super Bowl championships, AP source says