We are deploying sustained infrastructure in geosynchronous orbit, consisting of low-cost servicing vehicles and a partner-operated depot. Our services extend the operational lifetime of satellites as well as facilitate the salvage of components and raw materials from these assets. Our systems also serve as additional redundancy for existing systems that mitigate the risks of critical system failures and provide an immediate alternative to deploying replacement satellites.
Space assets, specifically satellites, have an inefficient lifecycle. They cost $100M++ to develop and deploy but are abandoned in orbit at their end of life, either after running out of fuel or experiencing a system failure. The ability to salvage these assets would revolutionize satellite operations.
We are currently working with some of the largest underwriters of space insurance policies to maximize the impact of our offerings on premiums for legacy satellite assets. Our servicing vehicles are currently in the design phase and project our first deployment in 2025. Our recent award of a Phase I STTR from the AFRL and the related support of our partners at Georgia Tech in early system optimization efforts will likely accelerate our development cycle. We are also a portfolio company of Capital Factory Ventures.
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