INNOSPACE, a South Korean private spaceflight startup specializing in small satellite launch vehicles, announced that the company has signed multi-launch service contracts for the ‘HANBIT’ small satellite launcher with two private satellite companies: CShark S.r.l. in Italy and EOS ORBIT in Thailand.
INNOSPACE has taken a step toward the commercialization of its space transportation business by securing two new launch service contracts for $1.5 million, following the agreements signed with four customers, including satellite companies and universities in Italy and Brazil, all since October of 2023.
Under the launch service contracts, INNOSPACE’s HANBIT launch vehicle will conduct commercial missions to deploy 35 satellites for CShark to their target orbits from 2025 to 2027, and one satellite for EOS ORBIT in 2025.
CShark designs IoT and satellite communication systems, offering customized software and hardware solutions. The company plans to accelerate commercialization by launching its designed and manufactured data collection satellite, PILOT-1®, using INNOSPACE’s HANBIT rocket. Additionally, CShark aims to launch 100 more satellites over the next three years to collect IoT data worldwide.
EOS ORBIT is revolutionizing data services with advanced aerospace technology. This innovative Thai startup is developing the nation’s first aerial surveillance system and a state-of-the-art space-based IoT communication satellite. Their IoT communication satellite, LOGSATS 3U CubeSat, is set to launch for technical verification soon. By 2027, EOS ORBIT plans to deploy 10 low Earth orbit satellites, offering unparalleled real-time IoT data services across Thailand. Specializing in custom satellite solutions, EOS ORBIT meets the needs of business/government customers seeking cutting-edge technology.
The customers have selected INNOSPACE as a partner for their upcoming business and has booked a HANBIT launch to ensure the timely deployment of their small satellites. In particular, the missions aim to deploy IoT communication satellites in LEO. It is significant that INNOSPACE has been recognized by customers for its differentiated competitiveness in the space market as a launch vehicle company capable of providing customized launch services.
“We are pleased to receive consecutive orders from global satellite companies. This achievement is due to the technological success demonstrated by the successful test launch of the ‘HANBIT-TLV’ in March 2023, which proved the rocket engine’s proprietary technology, system integration technology, and launch operation capabilities, all at a level capable of commercial launch services, thus earning recognition for its potential as a satellite launch service provider,” said Soojong Kim, founder and CEO of INNOSPACE. “INNOSPACE is developing the ‘HANBIT’ based on hybrid rocket technology to provide low-cost, rapid launch services to meet customer orbit requirements. We aim to support customers worldwide who share its space vision and is committed to ensuring the reliable commercialization of space transportation.”
INNOSPACE is a South Korean space startup for small satellite launcher manufacturing and orbital launch services. Founded in 2017, the company is developing hybrid rocket-powered small satellite launchers (HANBIT) to provide low-latency, low-cost, and reliable launch services in today’s rapidly expanding small satellite market. INNOSPACE has offices in South Korea, Brazil and France and is expanding global business opportunities in the aerospace industry.
