Current:Home > MarketsMaine company plans to launch small satellites starting in 2025 -Mastery Money Tools
Maine company plans to launch small satellites starting in 2025
View
Date:2025-04-15 21:54:04
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! (654)
Related
- Tropical weather brings record rainfall. Experts share how to stay safe in floods.
- Indiana-Atlanta highlights: How Caitlin Clark, Fever performed in second preseason game
- Bucks veteran Patrick Beverley suspended by NBA for throwing ball at fans
- Leaked PlayStation Store image appears to reveals cover of 'EA Sports College Football 25' game
- Megan Fox's ex Brian Austin Green tells Machine Gun Kelly to 'grow up'
- Maggie Goodlander, wife of national security adviser Jake Sullivan, launches congressional campaign in New Hampshire
- Transgender activists flood Utah tip line with hoax reports to block bathroom law enforcement
- Taylor Swift made big changes to Eras Tour. What to know about set list, 'Tortured Poets'
- Pregnant Kylie Kelce Shares Hilarious Question Her Daughter Asked Jason Kelce Amid Rising Fame
- Trump demands mistrial after damaging Stormy Daniels testimony | The Excerpt
Ranking
- Buckingham Palace staff under investigation for 'bar brawl'
- Stanford names Maples Pavilion basketball court after legendary coach Tara VanDerveer
- Hollywood penthouse condo sells for $24 million: See inside the luxury space
- Spending on home renovations slows, but high remodeling costs mean little relief in sight for buyers
- Beware of giant spiders: Thousands of tarantulas to emerge in 3 states for mating season
- What's the latest on pro-Palestinian campus protests? More arrests as graduations approach
- Miranda Cosgrove Details Real-Life Baby Reindeer Experience With Stalker
- In Louisiana’s ‘Cancer Alley,’ Excitement Over New Emissions Rules Is Tempered By a Legal Challenge to Federal Environmental Justice Efforts
Recommendation
Intel's stock did something it hasn't done since 2022
Prince Harry is in London to mark the Invictus Games. King Charles won't see his son on this trip.
A look at the growing trend of women becoming single parents by choice
2 skiers killed, 1 rescued after Utah avalanche
IOC's decision to separate speed climbing from other disciplines paying off
Justin Bieber's Mom Pattie Mallette Shares Heartwarming Video Celebrating Hailey Bieber's Pregnancy
Generation Alpha is here, how will they affect the world? | The Excerpt
Former NBA player Glen 'Big Baby' Davis sentenced to 40 months in insurance fraud scheme