Press Release: SPACE ONE Raises Additional Funding in the 2024 Round
2025.01.16
TOKYO, January 16, 2025 - SPACE ONE CO., LTD. ("SPACE ONE" or "the Company"), Japanʼs leading private launch services provider, hereby announces that it has secured additional funding from JR WEST INNOVATIONS CO., LTD. and ORIX Corporation during a fundraising round in 2024.
In this additional financing, the Company signed a memorandum of understanding (MOU) for a business partnership with JR WEST INNOVATIONS CO., LTD. Through enhanced collaboration with the JR-West Group, which possesses a solid business foundation and extensive expertise in western Japan, SPACE ONE aims to create unprecedented value in rocket launches and expand its impact, thereby contributing to resolving regional challenges.
ORIX Corporation honored SPACE ONE by choosing the Company as its first investment in the space-related industry. At ORIX Group, ORIX Rentec Corporation provides services such as outsourced testing using the environmental test facilities of a space center and rental of an entire compact thermal vacuum test chamber that recreates the conditions of space. Through this investment, SPACE ONE will contribute to advancing space infrastructure in collaboration with the ORIX Group.
Upcoming Launch:
On December 18, 2024, the KAIROS 2nd Flight was launched from the Companyʼs dedicated launch site, Spaceport Kii. The rocket successfully reached an altitude of 110.7 km, with the first stage igniting and separating as planned, followed by the successful ignition of the second stage and fairing jettison. The flight was then safely terminated. SPACE ONE is fully committed to identifying the root cause and once determined, will implement effective countermeasures to ensure the success of the third flight.
Advancing Ambitious Objectives:
SPACE ONE is committed to achieving the ambitious goal of annually launching 20 flights in the 2020s and 30 flights in the 2030s, and is working to enhance Space Port Kiiʼs launch system to make that goal a reality. For establishing a mass production system for rockets, SPACE ONE is strengthening its supply chain alongside refining its manufacturing systems by leveraging expertise developed in the commercial sector. Building on these advancements, the Company is set to deliver an innovative and transformative space transportation service, "Space Express Services,” designed to provide rapid, reliable launches̶within one year from contract signing and just four days after satellite delivery.
Development Status:
In addition to the KAIROS rocket, the Company is advancing research and development on the "Enhanced KAIROS," with the goal of increasing launch capabilities and improving satellite injection accuracy into orbits ("this project"). This project, conducted under a contract awarded by the Japan Ministry of Defense for 8.5 billion yen, includes enhancements to the upper stage of the launch vehicle, and involves installing a liquid oxygen/methane engine. In September 2023, the project was also selected for the "Small Business Innovation Research Program Phase 3 (SBIR Phase 3)" administered by the Ministry of Education, Culture, Sports, Science and Technology (MEXT). The project successfully passed a stage-gate review in September 2024.
For further information regarding this announcement, please contact the following:
info@space-one.co.jp
About JR-West Group:
JR-West Group is a leading provider of rail services in western Japan, connecting major cities and communities. Committed to innovation, sustainability, and community engagement, JR-West Group drives regional growth and delivers value through its diverse operations.
https://www.westjr.co.jp/global/en/
About ORIX Group:
ORIX Group (ORIX Corporation TSE: 8591; NYSE: IX) was established in 1964 and has grown from its roots in leasing in Japan to become a global, diverse, and unique corporate group. Today, it is active around the world in financing and investment, life insurance, banking, asset management, real estate, concession, environment and energy, automobile-related services, industrial/ICT equipment, ships and aircraft. Since expanding outside of Japan in 1971, ORIX Group has grown its business globally and now operates in around 30 countries and regions across the world with approximately 34,000 people.
ORIX Group unites globally around its Purpose: “Finding Paths. Making Impact.” combining diverse expertise and innovative thinking to help our world develop in a sustainable way.
https://www.orix.co.jp/grp/en/
(As of September 30, 2024)
About Space Port Kii:
Space Port Kii (SPK) is Japanʼs first privately operated rocket launch site, located in Wakayama Prefecture. It provides comprehensive infrastructure services designed to offer the fastest possible access to space. SPKʼs location, open to both south and east, makes it ideal for rocket launches and offers flexibility in terms of orbit and launch timing. As demand for space access grows with the expanding and diversifying space business market, the increasing need for launching small satellite constellations, which operate as unified systems, is expected to accelerate. SPACE ONE recognizes this growing demand by delivering satellites “on time, on orbit,” ensuing they reach the desired orbit when the user requires. With SPK and KAIROS enabling flexible operations, SPACE ONE is positioned to capture demand from both domestic and international users, contributing to the advancement of Japanʼs space industry and global space market.
https://www.space-one.co.jp/site/index_e.html