Latest news with #reusable rocket
Zawya
30-07-2025
- Business
- Zawya
China's SpaceX rival LandSpace eyes IPO in Shanghai
BEIJING - Chinese rocket developer LandSpace Technology is seeking to list on the Shanghai Stock Exchange's tech-focussed STAR Market, according to a document released by the securities regulator on Tuesday. The document did not state how much the company aims to raise. Beijing-based LandSpace was the world's first company to launch a methane-liquid oxygen rocket in July 2023, ahead of U.S. rivals including Elon Musk's SpaceX and Jeff Bezos's Blue Origin. It completed a test of the first-stage propulsion system of its Zhuque-3 launch vehicle in June, paving the way for the reusable rocket's first launch scheduled for the second half of 2025, according to a statement posted on the company's WeChat account. A successful test of Zhuque-3 would make LandSpace the second company after SpaceX to launch a reusable rocket, which is cheaper and faster in launch turnaround compared with expendable rockets. Founded in 2015, LandSpace has secured funding from investors including venture capital firm HongShan, known at that time as Sequoia Capital China, the investment arm of Chinese property developer Country Garden and the state-backed China SME Development Fund. LandSpace raised 900 million yuan ($125 million) in December from a state-owned fund focussed on advanced manufacturing, while in 2020 it raised 1.2 billion yuan, Chinese corporate databases showed. ($1 = 7.1796 Chinese yuan renminbi)
Yahoo
30-07-2025
- Business
- Yahoo
China's SpaceX rival LandSpace eyes IPO in Shanghai
BEIJING (Reuters) -Chinese rocket developer LandSpace Technology is seeking to list on the Shanghai Stock Exchange's tech-focussed STAR Market, according to a document released by the securities regulator on Tuesday. The document did not state how much the company aims to raise. Beijing-based LandSpace was the world's first company to launch a methane-liquid oxygen rocket in July 2023, ahead of U.S. rivals including Elon Musk's SpaceX and Jeff Bezos's Blue Origin. It completed a test of the first-stage propulsion system of its Zhuque-3 launch vehicle in June, paving the way for the reusable rocket's first launch scheduled for the second half of 2025, according to a statement posted on the company's WeChat account. A successful test of Zhuque-3 would make LandSpace the second company after SpaceX to launch a reusable rocket, which is cheaper and faster in launch turnaround compared with expendable rockets. Founded in 2015, LandSpace has secured funding from investors including venture capital firm HongShan, known at that time as Sequoia Capital China, the investment arm of Chinese property developer Country Garden and the state-backed China SME Development Fund. LandSpace raised 900 million yuan ($125 million) in December from a state-owned fund focussed on advanced manufacturing, while in 2020 it raised 1.2 billion yuan, Chinese corporate databases showed. ($1 = 7.1796 Chinese yuan renminbi) Connectez-vous pour accéder à votre portefeuille
Reuters
30-07-2025
- Business
- Reuters
China's SpaceX rival LandSpace eyes IPO in Shanghai
BEIJING, July 30 (Reuters) - Chinese rocket developer LandSpace Technology is seeking to list on the Shanghai Stock Exchange's tech-focussed STAR Market, according to a document released by the securities regulator on Tuesday. The document did not state how much the company aims to raise. Beijing-based LandSpace was the world's first company to launch a methane-liquid oxygen rocket in July 2023, ahead of U.S. rivals including Elon Musk's SpaceX and Jeff Bezos's Blue Origin. It completed a test of the first-stage propulsion system of its Zhuque-3 launch vehicle in June, paving the way for the reusable rocket's first launch scheduled for the second half of 2025, according to a statement posted on the company's WeChat account. A successful test of Zhuque-3 would make LandSpace the second company after SpaceX to launch a reusable rocket, which is cheaper and faster in launch turnaround compared with expendable rockets. Founded in 2015, LandSpace has secured funding from investors including venture capital firm HongShan, known at that time as Sequoia Capital China, the investment arm of Chinese property developer Country Garden and the state-backed China SME Development Fund. LandSpace raised 900 million yuan ($125 million) in December from a state-owned fund focussed on advanced manufacturing, while in 2020 it raised 1.2 billion yuan, Chinese corporate databases showed. ($1 = 7.1796 Chinese yuan renminbi)
Yahoo
23-07-2025
- Business
- Yahoo
Space startup iRocket to go public via $400 million SPAC deal
(Reuters) -Reusable rocket developer Innovative Rocket Technologies, commonly known as iRocket, will go public in the U.S. through a $400 million merger with special purpose acquisition company BPGC Acquisition, the companies said on Wednesday. SPAC deals, which took a backseat following a boom in 2020-2021, have seen a resurgence this year as macroeconomic uncertainties led by President Donald Trump's tariff policies continue to temper dealmaking. Crypto firm Bitcoin Standard Treasury Company, with over 30,000 bitcoin on its balance sheet, said it was aiming to list on Nasdaq through a merger with a Cantor Fitzgerald-backed blank check firm. SPACs are being increasingly viewed as a viable alternative to the traditional initial public offerings, which remained subdued through the tariff saga. However, progress in trade talks has rejuvenated investor interest in fresh listings. The company, founded in 2018, specializes in liquid oxygen and methane-fueled rocket propulsion technology, which encompasses a quick turnaround time to reload and relaunch, through its patented engine design. Space startups have also seen a lot of interest from investors and venture capital firms, with the World Economic Forum predicting a $1.8 trillion space economy by 2035. The company also noted the same number, citing a report by McKinsey, indicating it as a major opportunity for the rocket developer. "iRocket's unique combination of proven engineering talent, reusable launch systems, and solid rocket motor capability positions the Company to capture a significant share of the global launch and propulsion market," said Wilbur Ross, the 39th U.S. Secretary of Commerce and a sponsor of BPGC. The transaction, on which Cohen & Company Capital Markets advised iRocket financially, is expected to be completed in the fourth quarter of 2025. The companies intend to list the merged entity on Nasdaq. Sign in to access your portfolio
Reuters
23-07-2025
- Business
- Reuters
Space startup iRocket to go public via $400 million SPAC deal
July 23 (Reuters) - Reusable rocket developer Innovative Rocket Technologies, commonly known as iRocket, will go public in the U.S. through a $400 million merger with special purpose acquisition company BPGC Acquisition, the companies said on Wednesday. SPAC deals, which took a backseat following a boom in 2020-2021, have seen a resurgence this year as macroeconomic uncertainties led by President Donald Trump's tariff policies continue to temper dealmaking. Crypto firm Bitcoin Standard Treasury Company, with over 30,000 bitcoin on its balance sheet, said it was aiming to list on Nasdaq through a merger with a Cantor Fitzgerald-backed blank check firm. SPACs are being increasingly viewed as a viable alternative to the traditional initial public offerings, which remained subdued through the tariff saga. However, progress in trade talks has rejuvenated investor interest in fresh listings. The company, founded in 2018, specializes in liquid oxygen and methane-fueled rocket propulsion technology, which encompasses a quick turnaround time to reload and relaunch, through its patented engine design. Space startups have also seen a lot of interest from investors and venture capital firms, with the World Economic Forum predicting a $1.8 trillion space economy by 2035. The company also noted the same number, citing a report by McKinsey, indicating it as a major opportunity for the rocket developer. "iRocket's unique combination of proven engineering talent, reusable launch systems, and solid rocket motor capability positions the Company to capture a significant share of the global launch and propulsion market," said Wilbur Ross, the 39th U.S. Secretary of Commerce and a sponsor of BPGC. The transaction, on which Cohen & Company Capital Markets advised iRocket financially, is expected to be completed in the fourth quarter of 2025. The companies intend to list the merged entity on Nasdaq.
