Latest news with #AdamOakes
Business Insider
2 days ago
- Business
- Business Insider
Firefly Aerospace (FLY) Is Looking to Expand into Japan
Firefly Aerospace (FLY), a U.S. rocket company, is looking to expand its global launch operations by launching its Alpha rocket from Japan. This plan was confirmed by a Japanese company that operates a spaceport in Hokkaido, the northern region of Japan. If approved, Japan would become Firefly's second overseas launch site, after Sweden, where the company is already preparing for another Alpha mission. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Launching from Japan would help Firefly better serve the growing satellite industry in Asia. In addition, according to Firefly's Vice President, Adam Oakes, having a reliable launch option in the region adds flexibility and increases the resilience of U.S. allies. As a result of this strategic move, Firefly's stock closed today's trading in the green at $48.62 per share, staying within its post-IPO range of $45 to $73.80. Interestingly, Firefly has come a long way since it began in 2014 as Firefly Space Systems. It was founded by Tom Markusic (a former engineer at SpaceX, Blue Origin, and Virgin Galactic (SPCE)) along with a group of co-founders. The company's hope was to make space access more affordable for smaller payloads. However, after facing setbacks—including a lawsuit and bankruptcy in 2017—Firefly was restructured and refocused on its Alpha rocket. This led the firm to become the first private company to successfully land and operate on the Moon with its Blue Ghost Mission earlier this year. Is FLY Stock a Buy? It's too early for analysts to rate Firefly Aerospace's stock. So instead, we'll look at the performance of its rival, Voyager Technologies (VOYG), which went public recently. As one can see below, the stock currently has a Moderate Buy consensus rating based on five Buys and three Holds issued in the last three months. Furthermore, the average VOYG price target of $47.75 per share implies 42.1% upside from current levels.
CNA
3 days ago
- Business
- CNA
Firefly Aerospace eyes Japan rocket launches for Asia market
TOKYO :Firefly Aerospace is exploring an option to launch its Alpha rocket from Japan as the U.S. rocket maker expands its satellite launch services globally, a Japanese company operating a spaceport in the country's northern Hokkaido said on Monday. The plan could make Japan the second offshore launch site - and first in Asia - for Firefly, the Texas-based rival to Elon Musk's market leader SpaceX, which had its Nasdaq debut earlier this month and is preparing for an Alpha launch in Sweden. Space Cotan, operator of the Hokkaido Spaceport located about 820 km (510 mi) northeast of Tokyo, said it and Firefly signed a preliminary agreement to study the feasibility of launching the small-lift rocket Alpha from there. Launching Alpha from Japan "would allow us to serve the larger satellite industry in Asia and add resiliency for U.S. allies with a proven orbital launch vehicle," Adam Oakes, Firefly's vice president of launch, said in a statement published on Space Cotan's website. A feasibility study would be conducted to assess the regulatory hurdles, timeframe and investments for a launch pad for Alpha in Hokkaido, said Space Cotan spokesperson Ryota Ito. The plan would require a space technology safeguards agreement (TSA) between Washington and Tokyo that would allow American rocket launches in Japan, Ito added. The governments last year kicked off the negotiations but have not reached an agreement. A U.S.-Sweden TSA signed in June cleared the path for Firefly's launches from the Arctic. Four of Firefly's six Alpha flights since 2021 have ended in failure, most recently in April. While Japan's national space agency has launched rockets for decades, private rockets are nascent and most Japanese satellite operators rely on foreign options such as SpaceX's Falcon 9 or Rocket Lab's Electron. Previously, U.S. company Virgin Orbit aimed to use Japan's southwest Oita Airport for launches but the plan was scrapped after the firm went bankrupt in 2023. Colorado-based Sierra Space has an ongoing plan to land its spaceplane on Oita beyond 2027. Taiwanese firm TiSpace last month conducted what could be the first foreign launch in Hokkaido, but the suborbital flight failed within a minute. Japan's government is targeting 30 launches of Japanese rockets a year by the early 2030s and subsidises domestic enterprises such as Space One and Toyota-backed Interstellar Technologies.
Reuters
3 days ago
- Business
- Reuters
Firefly Aerospace eyes Japan rocket launches for Asia market
TOKYO, Aug 18 (Reuters) - Firefly Aerospace (FLY.O), opens new tab is exploring an option to launch its Alpha rocket from Japan as the U.S. rocket maker expands its satellite launch services globally, a Japanese company operating a spaceport in the country's northern Hokkaido said on Monday. The plan could make Japan the second offshore launch site - and first in Asia - for Firefly, the Texas-based rival to Elon Musk's market leader SpaceX, which had its Nasdaq debut earlier this month and is preparing for an Alpha launch in Sweden. Space Cotan, operator of the Hokkaido Spaceport located about 820 km (510 mi) northeast of Tokyo, said it and Firefly signed a preliminary agreement to study the feasibility of launching the small-lift rocket Alpha from there. Launching Alpha from Japan "would allow us to serve the larger satellite industry in Asia and add resiliency for U.S. allies with a proven orbital launch vehicle," Adam Oakes, Firefly's vice president of launch, said in a statement published on Space Cotan's website. A feasibility study would be conducted to assess the regulatory hurdles, timeframe and investments for a launch pad for Alpha in Hokkaido, said Space Cotan spokesperson Ryota Ito. The plan would require a space technology safeguards agreement (TSA) between Washington and Tokyo that would allow American rocket launches in Japan, Ito added. The governments last year kicked off the negotiations but have not reached an agreement. A U.S.-Sweden TSA signed in June cleared the path for Firefly's launches from the Arctic. Four of Firefly's six Alpha flights since 2021 have ended in failure, most recently in April. While Japan's national space agency has launched rockets for decades, private rockets are nascent and most Japanese satellite operators rely on foreign options such as SpaceX's Falcon 9 or Rocket Lab's (RKLB.O), opens new tab Electron. Previously, U.S. company Virgin Orbit aimed to use Japan's southwest Oita Airport for launches but the plan was scrapped after the firm went bankrupt in 2023. Colorado-based Sierra Space has an ongoing plan to land its spaceplane on Oita beyond 2027. Taiwanese firm TiSpace last month conducted what could be the first foreign launch in Hokkaido, but the suborbital flight failed within a minute. Japan's government is targeting 30 launches of Japanese rockets a year by the early 2030s and subsidises domestic enterprises such as Space One and Toyota-backed Interstellar Technologies.
