Latest news with #TexasSpaceCommission
Yahoo
5 days ago
- Business
- Yahoo
Texas Legislature gives new city of Starbase authority to shut down local beach for SpaceX launches
Texas lawmakers agreed to give the new city of Starbase the authority to periodically close down a South Texas beach, giving more power to municipal officials with close ties to SpaceX over the objections of local activists trying to preserve access to the beach. After previous versions of the measure died earlier during the legislative session, a last-minute addition to a bill related to the Texas Space Commission successfully granted Starbase officials the authority to temporarily close down Boca Chica Beach for SpaceX launches. House Bill 5246 revises the power and duties of the Texas Space Commission and the Texas Aerospace Research and Space Economy Consortium. A conference committee report of the bill added a section that allows the Space Commission to coordinate with a city to temporarily close a highway or venue for public safety purposes. In South Texas, that will give the Starbase city commissioners the authority to approve those closures which would affect State Highway 4, a road that runs through Starbase and leads to the beach, as well as the beach itself. Rep. Greg Bonnen, a Republican from Friendswood who chaired the conference committee on the bill, said the bill would ensure Texas remained the gateway for the future in space exploration. "The future is being shaped right here in Texas,' Bonnen said. Defending the addition to the bill, Rep. Richard Peña Raymond, a Democrat from Laredo, argued that the city of Starbase would have a better idea of whether it is safe for people to be out on the beach in a similar way the Laredo manages their international bridges. However, Rep. Trey Martinez Fischer, D-San Antonio, along with other Democrats, pushed back against the bill, noting that previous attempts to give Starbase this authority never made it to the House floor. Martinez Fischer also argued that the county commissioners were responsible for the beach and should get to make the call on when to shut it down. 'The question is who gets to make the call and who is in the best position to have the public interest in mind in closing a public beach?' Martinez Fischer said on the floor Sunday. 'I submit to you it's not the people in the company town that's effectively a wholly-owned subsidiary of SpaceX, and it's not the Space Commission.' Local organizations strongly opposed the measure, hosting phone banking events to urge lawmakers to vote against the bill. Their objections to the measure stemmed from concerns that the public would increasingly be shut off from Boca Chica Beach, which is affectionately known as the people's beach. It was once the most accessible beach before the Queen Isabella Causeway was built to connect Port Isabel to South Padre Island in 1954. Today, Boca Chica is beloved because it lacks the heavy commercialization of the beaches of South Padre Island. Additionally, the Esto'k Gna Tribal Nation, commonly known as the Carrizo/Comecrudo Tribe of Texas, view the beach as part of their ancestral land. The tribal and environmental groups have also opposed the increasing space flight activity that SpaceX is conducting on the beach over fears that the company's rocket launches are damaging nearby wildlife and polluting the gulf waters. Despite their efforts, the Federal Aviation Administration gave SpaceX the green light to increase the number rocket launches from Boca Chica Beach from five to 25 times per year. This authorization came after the FAA found through an environmental assessment that there would be no significant environmental impacts. The FAA released a draft of the environmental assessment last year for public review and held public meetings in January. Critics from the environmental and indigenous groups argued that the FAA's review was not thorough and that the agency did not consult with the Carrizo/Comecrudo tribe. The move to allow Starbase to close the beach shifts that authority away from Cameron County, a power that the county inherited in 2013 just as SpaceX was about to begin their spaceflight activities there. Now that authority lies with Starbase, a new city whose residents and elected officials are either SpaceX employees or have ties to the company. The mayor and city commissioners held their first public meetings this week, appointing key staff, adopting city codes, and approving a financial plan to seek a loan from SpaceX to help fund the city through the end of the fiscal year. Reporting in the Rio Grande Valley is supported in part by the Methodist Healthcare Ministries of South Texas, Inc. First round of TribFest speakers announced! Pulitzer Prize-winning columnist Maureen Dowd; U.S. Rep. Tony Gonzales, R-San Antonio; Fort Worth Mayor Mattie Parker; U.S. Sen. Adam Schiff, D-California; and U.S. Rep. Jasmine Crockett, D-Dallas are taking the stage Nov. 13–15 in Austin. Get your tickets today!
Yahoo
14-05-2025
- Business
- Yahoo
Intuitive Machines (NasdaqGM:LUNR) Reports Q1 Sales at US$63 Million With Positive Net Income
Intuitive Machines reported its earnings for Q1 2025, showing a clear turnaround with a net income of USD 0.5 million compared to a significant loss in the previous year. This development, alongside the awarding of a USD 10 million grant from the Texas Space Commission, likely played a role in the company's notable 51% price increase last month. Despite a market rise of 3.9% over seven days, the company's specific advancements contrast with the broader market trends, suggesting these internal achievements contributed to its more substantial gains. Be aware that Intuitive Machines is showing 2 possible red flags in our investment analysis and 1 of those is a bit unpleasant. This technology could replace computers: discover the 22 stocks are working to make quantum computing a reality. The recent financial upswing for Intuitive Machines, combined with the substantial grant from the Texas Space Commission, could significantly influence the company's expansion plans and financial health. These developments might improve earnings forecasts and revenue expectations as the company increases its capacity to explore new markets and potentially secure high-margin contracts. With ongoing government reforms and NASA contracts spotlighting commercial services, the firm could experience an upswing in its service footprint and profitability. Over the past year, Intuitive Machines experienced a total shareholder return of 104.04%, which puts the company's performance in stark contrast to the broader US Market, which returned just 11.6%, and the US Aerospace & Defense industry, which returned 23.4% over the same period. This strong annual performance underscores investor confidence in Intuitive Machines' strategic direction and underlying business developments, as evidenced by the firm's achievements and investor reactions highlighted in recent news. With a current share price of US$8.6, there is substantial room for growth compared to the consensus analyst price target of US$14.857, suggesting a 42.1% potential upside. If the company can continue to improve revenue and earnings in line with analysts' expectations, reflecting anticipated annual growth of 18.9% in revenue and a path to profitability by 2028, it's possible Intuitive Machines may close the gap to its projected valuation. This alignment with predicted growth and profitability could play a crucial role in justifying the higher future valuations projected by analysts. In light of our recent valuation report, it seems possible that Intuitive Machines is trading beyond its estimated value. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NasdaqGM:LUNR. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
08-04-2025
- Business
- Yahoo
Cedar Park-based Firefly Aerospace awarded Department of Defense contract
Cedar Park-based Firefly Aerospace announced Monday that it has been awarded a contract with the U.S. Defense Department to perform a responsive on-orbit mission using its spacecraft. The mission is part of the Defense Innovation Unit, or DIU, Sinequone Project, a Defense Department initiative aimed at prototyping the use of commercial launch and orbital transfer systems to provide cost-effective, responsive access beyond geosynchronous orbits. These orbits, commonly referred to as xGEO, extend beyond Earth-centered orbits that have an orbital period matching Earth's rotation. For the mission, Firefly's Elytra spacecraft will serve as a space maneuver vehicle, performing a series of tasks and hosting a suite of government payloads. The mission is set to launch as early as 2027. 'Firefly has proven our ability to rapidly and reliably launch, land and operate in space as we continue to execute bold missions from (low Earth orbit) to lunar orbit and beyond,' said Jason Kim, CEO of Firefly Aerospace. 'This national security mission will further demonstrate our ability to perform responsive on-orbit tasks when and where our customers need them with our highly maneuverable Elytra orbital vehicle." Firefly's multimission orbital vehicle Elytra's main engine, known as Spectre, was recently proven when Firefly became the first commercial company to complete a fully successful moon landing in early March. More: Austin-based Firefly Aerospace's Blue Ghost successfully lands on moon Firefly successfully landed its Blue Ghost Mission 1 lunar lander on the moon's surface on March 2, and it then operated 10 NASA-backed scientific and technological instruments over the period of one lunar day, equivalent to about 14 days on Earth. According to Kim, Elytra will be equipped with the same systems used in the Blue Ghost landing — including the reaction control system thrusters that successfully performed Blue Ghost's final descent to the moon — for the Sinequone mission. Along with its successful moon landing last month, Firefly was recently awarded an $8.2 million grant from the Texas Space Commission for spacecraft clean room space, test facilities and infrastructure support. According to Firefly, the Texas Space Commission gift is aiding Firefly's ability to mass produce Elytra in higher quantities at a lower cost. This article originally appeared on Austin American-Statesman: Firefly Aerospace to launch mission with Department of Defense in 2027
Yahoo
14-02-2025
- Science
- Yahoo
Blue Origin receives $7M grant for facility upgrades
EL PASO, Texas (KTSM) – The Texas Space Commission has awarded a $7 million grant to Blue Origin for upgrades, Senator César J. Blanco announced on Wednesday, Feb. 12. Blanco said the funding will be used for upgrades to its horizontal first-stage booster engine test facility. The funding will also support the addition of subcooling capacity, allowing the use of more energy-dense propellants in the New Glenn program, Blanco added. New Glenn, a reusable rocket designed for heavy payloads, is part of Blue Origin's long-term vision to expand human and industrial activity into space. Blanco said these improvements will enhance the thrust capacity of each booster engine, further strengthening Texas' role in space innovation. Blanco shared the following statement: 'Last session, I was proud to pass legislation to create the Texas Space Commission to grow the space industry in Texas, attract cutting-edge research, and support companies like Blue Origin that are investing in West Texas. 'This grant is another step in building up our region as a hub for aerospace innovation, creating new opportunities and good-paying jobs, while strengthening our role in the future of spaceflight.' Summer Webb, director of Texas Government Relations, Blue Origin sent the following statement: 'We're grateful for our partners in the State of Texas and the Texas Space Commission for the Space Exploration and Aeronautics Research Fund grant. This cost-share agreement with Blue Origin will be used for research, development, and testing at our West Texas facility. Public-private partnerships like this benefit the growth of the space economy and drive innovation in Texas. We look forward to growing our partnerships in the Lone Star State, where our investment now exceeds one billion dollars — to sustain American leadership in space.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
14-02-2025
- Science
- Yahoo
Concho Valley Council of Governments receives grant from the Texas Space Commission
SAN ANGELO, Texas (Concho Valley Homepage) — The Texas Space Commission awarded a $500,000 grant to the Concho Valley Council of Governments. The grant was awarded to the CVCOG as part of the Space Exploration and Aeronautics Research Fund grant program. The funding is for a feasibility study for an inland launch site in the Concho Valley region. John Stokes, executive director of the CVCOG, said the study is part of the TSC's goal of bringing operations to West Texas. 'What they're really focusing on is looking for an inland space port, a vertical launch site in West Texas particularly,' Stokes said. The study will be based off a model previously used for a similar project in Michigan. 'We'll be trying to evaluate factors like water use, property rights, how does it impact the citizens,' Stokes said. Kimble County Judge Hal Rose said this project could bring more opportunities for economic development in the Concho Valley. 'We're hoping that we can find an economic development opportunity that utilizes some of the open space we have while creating jobs,' Rose said. In addition to the geographical assessment of the region, Stokes and Rose shared that the most important factor to be considered is the people in our community. 'The number one thing we'll be asking is, 'Is this something you want?' We think this is a good idea, but is this something you want? We're going to be very thorough when it comes to that,' Stokes said. The TSC also awarded grants to the Borderplex Alliance in El Paso, El Paso County, and the South Plains Association of Governments. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
