Beyond Horizons
Trailblazing Tales from Asia
Your exclusive gateway to the latest developments across transportation and space, and most importantly, how to finance it all - debt, equity, and defi! We follow and forecast where the money’s at.
Join us as we navigate through the latest roundup to uncover key developments across the region.
**Nothing in this article is intended to be or should be construed as legal or financial advice.*
Watch
Is Palm Oil Off Limits for ESG Investors?
In the special report "Is Palm Oil Off Limits for ESG Investors?" Morningstar Sustainalytics' Ruby Jeng discusses the controversial nature of investing in palm oil due to its association with deforestation, soil erosion, and greenhouse gas emissions. Despite these concerns, palm oil's efficiency and widespread use in packaged products present potential for positive change. For investors, Jeng advises focusing on companies' ability to manage material ESG risks through robust strategies and transparent practices, and engaging in dialogue to ensure responsible investment.
Read
Operation Manual 2024: Climate Risk for the Banking Industry,
The Operation Manual 2024: Climate Risk for the Banking Industry, released by Climate X, is a key resource for financial institutions managing climate risk. It covers the evolving landscape of climate risk assessment, offering insights into both physical and transition risks, and provides strategies for enhancing resilience across short- and long-term horizons. The manual helps banks and investors quantify and mitigate risks at the asset and portfolio level, while offering guidance on aligning with regulatory changes and staying competitive in a decarbonizing economy.
The Race to Gold – Brisbane’s Games Transport Legacy
The City of Brisbane's plan, "The Race to Gold – Brisbane’s Games Transport Legacy," outlines 18 transport initiatives across four key themes to prepare for the Olympic Games and future needs. The plan includes various modes of transport, with a focus on exploring advanced air mobility, such as electric air taxis, to create a lasting impact on the city's transport infrastructure.
Climate Litigation Can Power China’s Low-carbon Transition
In this opinion piece, Daria Kurushina, a Schwarzman Fellow at the Asia Society Policy Institute in New York, explores the growing role of climate litigation in China. While China’s climate litigation is still developing compared to the Global North, it has the potential to drive the country’s low-carbon transition. Kurushina discusses how China is leveraging state agencies and evolving legal frameworks rather than pursuing direct litigation against central policies. Drawing on examples from other Asian nations, such as Indonesia and India, she argues that enhancing China’s climate litigation system and increasing civil-society involvement could improve regulatory compliance and support China’s transition to a low-carbon economy.
Access the opinion piece here.
Events
Webinar - Decarbonising Finance: Driving sustainable futures through Scope 3 solutions and investment in low-carbon fuels and materials
This September 17th webinar will focus on how financial institutions can play a pivotal role in the transition to a low-carbon economy by addressing Scope 3 emissions and investing in sustainable fuels and materials. The discussion will cover key topics including strategies for managing Scope 3 emissions in financial portfolios, the role of Book and Claim Systems in sectors like SAF, and the critical importance of investing in sustainable fuels and materials.
Speakers include Tim Thomson, CFO of Charm Industrial; Adam Klauber, Vice President of Sustainability and Digital Supply Chain at World Energy; Liam Chueng, Chief Investment Officer at FE Global; Gill Alker, Book & Claim Programme Manager at RSB; and Max Eichelbaum, Digital Solutions Manager at RSB.
Hosted by the Roundtable on Sustainable Biomaterials (RSB), the webinar is targeted at investment managers, sustainability managers, financial analysts, and risk managers.
Register for the webinar here.
MRO Asia-Pacific
MRO Asia-Pacific is a leading event for the commercial aviation aftermarket in the region, featuring a senior-level conference and international exhibition. With over 200 exhibitors and 5,000 attendees, it brings together airlines, lessors, MROs, OEMs, and industry experts. The event offers networking, learning, product demos, and business development opportunities. It will be held in Singapore from September 24-26, and includes a conference with 30+ expert speakers, a diverse exhibition, and networking sessions.
Learn more about the event here.
Summary
Financing & Investments: Arta Finance Secures EDBI Investment for Global Expansion; Clime Capital Invests Up to $10 Million in Upgrade Energy Philippines for Solar Expansion; SDAX Secures $50M in Series B2 Funding, Led by Oman’s MPMR; Playbook Partners Secures Over $130 Million in First Close, Eyes $250 Million Cap; Cathay Pacific Completes HK$4 Billion Repayment to HKSAR Government; China Development Bank Financial Leasing Orders 80 Airbus A320neo Jets; South Gyeongsang Secures Major Investments; Pinetree Securities, KTO, and Velocity Ventures Partner to Boost Korean Tourism Tech; and Laos Partners with European Patent Office to Boost Investment Opportunities
Environmental Sustainability: China and Norway Launch Green Transition Dialogue to Foster Environmental Cooperation; ENEOS Supplies SAF to China Airlines, Aiming for 50% Market Share in Japan; SK Energy Launches South Korea’s First SAF Production Line; KazMunayGas and Sovico Group to Explore SAF Production; India Civil Aviation Minister Pushes for SAF and Regional Connectivity; and Indonesia Pushes for Green Aviation and Enhanced Training
Aviation: SAID Completes First Engine Leasing Deal with Air China and Juneyao Airlines; Embraer Explores Expansion into Indian Supply Chain Amid Strengthening Ties; ICL Expands Global Presence with New Office in Ho Chi Minh City; AerFin Expands Global Presence with New Office in Singapore; AAHL Launches aviio Platform to Revolutionize Airport Operations; Auckland Airport to Upgrade Check-In with Self-Service Kiosks; HKIA Centre Runway Passes Flight Check for Three-Runway Operation; and Singapore PM Announces Changi T5 Construction Timeline
Advanced Air Mobility: AirAsia Joins Heart Aerospace Advisory Board for Regional Electric Aviation; Gimpo International Airport Area to be Redeveloped into UAM Hub by 2030; CAAS and ANAC Sign MOI to Collaborate on eVTOL Aircraft Regulation; India Civil Aviation Minister Pushes for SAF and Regional Connectivity; and India to Introduce Air Taxis and Expand Advanced Air Mobility
Marine: QatarEnergy Orders 6 More QC-Max LNG Vessels from China's Hudong-Zhonghua Shipyard; Leonhardt & Blumberg Orders Two Methanol-Ready Tankers from GSI; Yinson GreenTech's All-Electric Vessel Hydromover Begins Commercial Trials in Singapore; SBM Offshore to Acquire FPSO Interests from Malaysia’s MISC; and HMM Unveils $18 Billion Investment Plan for Business Expansion and Sustainability
Space: Hanwha Aerospace and Gilmour Space Partner for Space Industry Expansion; Australia to Host Hypersonic Testing with New Southern Launch and Hypersonix Partnership; INNOSPACE’s HANBIT-Nano Launch Vehicle Passes Key Fairing Separation Test; KULR Technology Secures $1.5M Contract for Space Battery Systems with South Korea’s Nara Space; and Eartheye Space Secures $1.5 Million Pre-Seed Funding for Expansion
Financing & Investments
Singapore
Arta Finance, a digital wealth platform founded by ex-Google executives, has received strategic investment from EDBI,the investment arm of Singapore’s Economic Development Board. Arta aims to democratize financial tools traditionally reserved for the ultra-wealthy, offering investment opportunities and strategies typically available through family offices and private banks. The platform provides these services with an intuitive interface and affordable pricing to address the widening wealth gap.
💡Backed by investors including Peak XV, Ribbit Capital, and Coatue, Arta operates in the US and plans to expand internationally, starting with Singapore later this year.
Singapore-Philippines
Clime Capital, the Singapore-based fund manager focused on advancing a low-carbon economy, has announced an investment in Upgrade Energy Philippines (UGEP) through its South East Clean Energy Fund II (SEACEF II). The investment, potentially reaching up to USD 10 million, aims to accelerate the deployment of solar energy infrastructure in the Philippines.
💡UGEP aims to exceed 50 MWp of installed solar capacity by the end of the year.
Singapore
Singapore’s Digital Asset Exchange (SDAX) closed a $50 million Series B2 funding round, led by Oman-based Muscat Precious Metals Refining Company (MPMR). This follows a $18 million Series B round in 2021, with support from key investors like PSA International, Straits Trading, and New Horizon Global. Existing shareholders ESR, RHT, and Crazy Goats also continue to back the platform.
The new funds will drive SDAX’s expansion, focusing on client acquisition, wealth and fund management, and regional growth. Plans include launching a digital asset exchange in Oman, providing strategic access to the GCC and Africa, while linking Oman to global liquidity pools.
💡SDAX has diversified its offerings by teaming up with MPMR to introduce securitized gold tokens, allowing fractional gold investments, and short-term gold financing notes with double-digit yields.
India
Playbook Partners, an India-based growth capital firm, has successfully raised over $130 million in its first close within four months, attracting global investors from Singapore, Europe, the US, the Middle East, and India. The fund is using the green shoe option to potentially expand up to $250 million.
💡Playbook Partners targets growth-stage, tech-enabled businesses in large markets with strong margins and high growth potential.
Hong Kong
Cathay Pacific Airways has completed the buyback of all warrants issued to the Hong Kong SAR (HKSAR) Government in 2020, as part of its pandemic-induced recapitalisation. The buyback cost HK$1.53 billion, and together with the redemption of preference shares totaling HK$2.44 billion, the airline has repaid nearly HK$4 billion to the HKSAR Government. This marks the end of the financial support received from the government during the pandemic.
💡CEO Ronald Lam expressed gratitude for the support and highlighted Cathay's future focus on significant investments exceeding HK$100 billion over the next seven years to enhance customer experience and bolster Hong Kong’s aviation hub status.
China
China Development Bank Financial Leasing Co. has placed an order for 80 Airbus A320neo jets, marking one of the largest orders for Airbus this year. The aircraft, scheduled for delivery between 2030 and 2032, aim to enhance the efficiency of CDB's fleet.
💡CDB Aviation currently manages nearly 300 aircraft, with about half being A320 family jets.
South Korea
The South Gyeongsang Provincial Government has finalized significant investment agreements with global and local players. Last month, in Prague, South Gyeongsang signed MoUs with Germany's Wurth Group and local firm Samsong. Wurth will collaborate on future mobility services, while Samsong will invest 20 billion won to expand its seatbelt manufacturing in the region.
💡South Gyeongsang has also secured investments from Young Aviation and Metis. Young Aviation, a local airplane engine maintenance company, will invest 20 billion won to build a plant in Sacheon, while local defense firm Metis will invest 8 billion won in the production of aviation communication parts.
South Korea
Pinetree Securities, a unit of Hanwha Investment & Securities, the Korea Tourism Organization (KTO), and Velocity Ventures, a venture capital firm based in Singapore, have signed an MOU to advance tourism technology in Korea. The agreement, signed in Singapore, aims to introduce Korean tourism startups to Southeast Asia and global markets.
💡Velocity Ventures, specializing in travel and hospitality tech across Southeast Asia, will help scale Korean startups internationally. Pinetree Securities will invest in Velocity Ventures, supporting early-stage Korean innovations.
Laos
Laos is set to enhance its economic landscape by entering a validation agreement with the European Patent Office (EPO), allowing patents granted by the EPO to be recognized and enforced within the country. The bilateral arrangement positions Laos as the sixth nation to sign such an agreement, following Morocco, Moldova, Tunisia, Cambodia, and Georgia.
The agreement simplifies legal processes for European businesses, offering streamlined patent protection and reducing costs for those looking to expand into Southeast Asia. By providing stronger intellectual property safeguards, Laos aims to attract more foreign investment, particularly in sectors like technology and pharmaceuticals.
💡The agreement's implementation will follow necessary legislative and legal adjustments in Laos to align with EPO standards.
Environmental Sustainability
China
China and Norway have initiated a dialogue focused on the green transition, aiming to enhance cooperation on reducing greenhouse gas emissions, preserving biodiversity, and creating green industries and jobs. A biennial meeting will be organized by the foreign ministers of both countries to review progress and set new goals.
💡Norwegian Prime Minister Jonas Gahr Støre’s visit to China marks the 70th anniversary of diplomatic relations.
Taiwan-Japan
Japanese energy firm ENEOS Corporation has supplied SAF to China Airlines at Narita International Airport. China Airlines, Taiwan’s first airline to use SAF in 2023, aligns this partnership with its goal of achieving net-zero CO2 emissions by 2050.
ENEOS is building a comprehensive SAF system, including production and distribution, and aims to capture 50% of Japan's SAF market by 2040. The company is reviving the Wakayama refinery and has formed partnerships to build the SAF supply chain.
💡Japan's SAF production could reach up to 1.34 million kiloliters per year by 2030, meeting 10% of aviation fuel needs.
South Korea
South Korean refiner SK Energy has inaugurated the country’s first dedicated SAF production line at Ulsan. Utilizing co-processing technology, the new facility combines bio-feedstocks with traditional oil refining processes to produce both petroleum and SAF.
💡SK Energy plans to start supplying SAF to Korean Air from early next year and has secured key certifications to support its SAF production and sales. The company aims to meet upcoming SAF blending requirements and is exploring further expansion of its SAF capabilities.
Vietnam-Kazakhstan
Kazakhstan’s national oil and gas company KazMunayGas (KMG) and Vietnam’s Sovico Group have announced a partnership to explore SAF production. The collaboration follows Sovico’s acquisition of Qazaq Air. The agreement, formalized in August 2023, supports Sovico's plans to expand Qazaq Air’s international reach and reduce its carbon footprint.
💡KMG is also working on a feasibility study for a SAF production complex in Kazakhstan, with broader goals for SAF usage in airlines set by Kazakhstan’s sovereign wealth fund.
India
At a recent conference, Civil Aviation Minister K. Rammohan Naidu called for increased use of SAF and highlighted India’s progress towards carbon-neutral airports. He announced plans to develop 106 airports and airstrips to enhance regional air connectivity, supporting a national scheme dubbed UDAN to improve accessibility. Naidu also set targets for SAF integration into international flights, aiming for a 1% SAF blend by 2027 and 2% by 2028, in line with ICAO standards.
💡The minister further discussed India's goal of establishing global aviation hubs and expanding regional air services.
Indonesia
At the Hub Talks event in Jakarta, Transportation Minister Budi Karya Sumadi announced the Ministry of Transportation's plan to tighten regulations on sustainability in aviation to cut greenhouse gas emissions. He called for a shift from fossil fuels to greener energy sources and emphasized the importance of green aviation concepts and smart airport development. The ministry is also focusing on digital transformation and human resource development through training programs to boost the industry’s global competitiveness.
💡ICAO President Salvatore Sciacchitano and Regional Director Tao Ma acknowledged Indonesia's efforts in sustainability and training but highlighted the need for further improvements in aviation safety.
Aviation
China
Sichuan Aviation Industry Development Co. Ltd. (SAID) has successfully completed its first engine leasing deal, providing two V2500 engines to Air China and Juneyao Airlines. The project, which commenced in early August and concluded by mid-September, received strong support from several organizations, including the Civil Aviation Administration of China and Lufthansa Technik.
💡As a comprehensive aviation services provider, SAID specializes in aircraft conversions, maintenance, and financial solutions.
India
A high-level delegation from Embraer concluding its visit to India last week to assess expanding its supply chain into the country. The Brazilian aerospace company is evaluating potential suppliers for its defense, commercial aviation, and executive jets sectors, focusing on areas like aerostructures, composites, and software development.
💡Embraer currently operates 44 aircraft in India, including VIP jets and military aircraft for the Indian Air Force. The company is particularly interested in the Indian Air Force’s Medium Transport Aircraft program and is exploring opportunities for local assembly of the C-390 Millennium transport aircraft in partnership with the India company Mahindra.
Vietnam
International Cargo Logistics Ltd (ICL) has opened a new office in Ho Chi Minh City, Vietnam, as part of its global expansion strategy. The new office aims to enhance its multimodal services and leverage Vietnam’s location near major shipping routes, including the South China Sea Route crucial for Asia-Europe operations. The move follows the recent opening of an office in Rotterdam, bringing the total number of ICL offices worldwide to 10.
💡The Vietnam office will support operations in Southeast Asia and strengthen relationships with existing clients while building new connections in the region. ICL, which operates in over 180 countries, also recently expanded its cold storage facilities at Heathrow.
Singapore
AerFin, a provider of end-of-life aircraft and engine asset management services, has expanded its global presence with the opening of a new office in Singapore, joining its existing locations in London Gatwick, Cardiff, Dublin, and Miami. The Singapore office, located in Raffles Place, will be led by Paul Ashcroft, the new Senior Vice President of Asia Pacific, who brings experience from Cathay Pacific, General Electric, and Rolls-Royce.
💡The company has been managing inventory in the Asia-Pacific region since 2016 and aims to capitalize on anticipated fleet growth and strategic fleet transitions.
India
Adani Airports Holdings Ltd (AAHL) has introduced the aviio digital platform to enhance airport operations and passenger experience. The platform offers real-time updates on security, wait times, gate changes, and baggage tracking across AAHL’s seven airports.
💡Aviio is designed to improve coordination among airport stakeholders and supports efficient capacity planning and resource management.
Australia
Auckland Airport is upgrading its check-in process with new self-service kiosks and automated bag drops, replacing around 100 traditional check-in counters. Starting this summer, the initiative aims to streamline check-in, allowing travelers to print luggage tags and drop off bags quickly, potentially saving up to 13 minutes compared to traditional methods. The new system will support all airlines and improve efficiency without a major expansion of check-in space.
💡The upgrade is part of a broader infrastructure investment, including a new domestic jet terminal integrated with the international terminal. Additionally, the airport plans to enhance its baggage handling system for better tracking and energy efficiency.
Hong Kong
The reconfigured Centre Runway at Hong Kong International Airport (HKIA) has passed its flight check, a key milestone for the Three-Runway System (3RS) development. The check, which started in August, involved collaboration between Airport Authority Hong Kong (AAHK), the Civil Aviation Department, and China's Flight Inspection Center, ensuring compliance with International Civil Aviation Organization standards.
💡The Centre Runway, closed for reconfiguration since the North Runway's commissioning in November 2022, will support HKIA’s goal to handle 120 million passengers and 10 million tonnes of cargo by 2035. AAHK aims to have all three runways operational by the end of this year.
Singapore
Singapore Prime Minister Lawrence Wong announced that construction for Changi Airport Terminal 5 (T5) will commence in the first half of 2025. T5 is expected to increase the airport's capacity by 50 million passengers annually, enhancing connectivity and creating new jobs.
💡The new terminal will support Singapore’s aim to expand its aviation network to over 200 destinations by 2035.
Advanced Air Mobility
Malaysia
AirAsia has joined the Industry Advisory Board of Heart Aerospace, a Swedish startup, to help shape the future of regional electric aviation. AirAsia will provide strategic guidance on the development and commercialization of Heart’s hybrid-electric ES-30 aircraft. The board includes leading airlines, leasing companies, and airports.
💡Heart Aerospace is developing the ES-30, a regional electric aircraft with a range of up to 800 kilometers and has already secured 250 firm orders. The company revealed its first full-scale ES-30 demonstrator on September 12.
South Korea
Seoul's Gimpo International Airport area will be transformed into a major Urban Air Mobility (UAM) hub by 2030,according to the city's announcement. The 350,000 square meter Gimpo Airport Innovation Zone will include three blocks featuring a UAM take-off and landing site, public transit facilities, commercial and cultural spaces, aviation businesses, and high-tech industrial facilities. The development will also include discounts for local residents and job opportunities within the new district.
💡The 2.964 trillion won ($2.2 billion) project aims to be completed by 2030, with the basic plan expected by next year and construction starting in 2027.
Singapore
The Civil Aviation Authority of Singapore (CAAS) and Brazil's National Civil Aviation Agency (ANAC) has signed a Memorandum of Intent (MOI) on Advanced Air Mobility to collaborate on the regulation and safe operation of eVTOL aircraft. The agreement covers sharing expertise on certification and regulatory procedures, developing technical standards, and coordinating industry engagement.
💡The MOI builds on previous agreements between the two countries, including a February 2024 Memorandum of Understanding and a June 2024 Technical Arrangement for Airworthiness Certification. Both parties emphasized the importance of international collaboration to keep pace with rapid technological advancements in aviation.
India
Prime Minister Narendra Modi announced the imminent arrival of air taxis in India during the Second Asia Pacific Ministerial Conference on Civil Aviation in New Delhi. He highlighted the government's push for advanced air mobility, supported by new rules for vertiports and initiatives like the UDAN scheme, which has improved air travel accessibility.
💡Modi emphasized the potential of electric VTOL aircraft and India's goal to become a global aviation hub. He also proposed creating an international Buddhist circuit and noted India's leadership in female pilots compared to the global average.
Marine
Qatar-China
QatarEnergy has secured a USD 8 billion contract with China State Shipbuilding Corporation (CSSC) to build 6 additional QC-Max LNG vessels at Hudong-Zhonghua Shipyard. This latest order increases QatarEnergy's total LNG vessel fleet expansion to 128, including 24 QC-Max mega vessels.
💡Each QC-Max vessel, with a capacity of 271,000 cubic meters, is set for delivery between 2028 and 2031.
Germany-China
German shipping company Leonhardt & Blumberg has placed an order for two methanol-ready MR2 tankers with Guangzhou Shipyard International (GSI), a subsidiary of China State Shipbuilding Corporation (CSSC). The 49,500 dwt vessels will measure 183 meters long and feature methanol compatibility, open-loop scrubbers, and meet Tier III and EEDI Phase 3 standards.
💡Scheduled for delivery in January 2027, the order marks the first MR newbuildings collaboration between Leonhardt & Blumberg and CSSC Group.
Singapore
Yinson GreenTech has launched commercial trials for Singapore’s first all-electric light cargo vessel, the Hydromover, as part of efforts to decarbonize the maritime industry. The trials, which started on August 26, 2024, are supported by the Maritime and Port Authority of Singapore (MPA) and the Singapore Maritime Institute (SMI).
Developed by the Goal Zero Consortium, the 18.5-meter vessel, equipped with a swappable battery system, can carry up to 25 tonnes of cargo and is expected to reduce energy use, carbon emissions, and operational costs. The trials aim to help Singapore achieve its goal of net-zero emissions in the harbor craft sector by 2050.
💡Industry leaders, including OPL Services, the first participant, are trialing the Hydromover. Six other operators, including Lita Ocean, DM Sea Logistics, and Tian San Shipping, with a combined fleet of over 200 vessels, have shown interest in adopting electric fleets for future operations.
Malaysia
Netherlands-based SBM Offshore has announced an agreement to acquire Malaysian shipping company MISC's equity interests in two floating production storage and offloading (FPSO) vessels. The deal, subject to regulatory approval, involves SBM Offshore taking full ownership of the FPSO Espirito Santo, currently operating in Brazil's Campos Basin for Shell do Brasil. MISC, which holds a 49% stake in the vessel, will transfer its shares to SBM Offshore, making SBM the sole owner.
💡In a reciprocal arrangement, SBM Offshore will divest its 49% interest in the FPSO Kikeh to MISC. The FPSO Kikeh operates in Malaysia's deepwater Kikeh field, serving Murphy Sabah Oil. Upon completion, MISC will fully own FPSO Kikeh. Financial terms of both transactions were not disclosed.
South Korea
Shipping company HMM has announced a comprehensive mid-to-long-term strategy to expand its business portfolio, investing KRW23.5 trillion (US$18 billion) by 2030, focusing on several key areas.
A significant portion of the investment, KRW12.7 trillion (US$9.5 billion), will be directed towards its container business. HMM plans to enhance its operational fleet to 1.55 million TEU across 130 vessels, and invest KRW1.7 trillion (US$1.3 billion) in container boxes to boost efficiency. Additionally, KRW5.6 trillion (US$4.2 billion) will support the expansion of its bulk business, increasing its fleet to 110 vessels.
HMM will also allocate KRW4.2 trillion (US$3.1 billion) to strengthen its integrated logistics infrastructure, including terminal extensions and port acquisitions. To drive sustainability, the company aims to acquire approximately 70 green vessels by 2030 and establish a carbon-neutral ecosystem by 2045.
💡KRW1 trillion (US$750 million) will also be invested in enhancing competitiveness, including retrofitting ships for green fuel operation.
Space
South Korea-Australia
Hanwha Aerospace and Gilmour Space signed a MOU at Land Forces 2024 in Melbourne, aiming to boost South Korea-Australia space collaboration. The MOU focuses on using Australian launch sites, enhancing space industry exchanges, and exploring new opportunities. Gilmour Space, known for its low-orbit rocket development and the Bowen Space Launch Complex, seeks to achieve Australia’s first independent space launch.
💡The partnership will leverage Australia's need for satellite imagery and align with the country's growing space investments, enhancing capabilities in satellite communication and disaster management.
Australia
Southern Launch and Hypersonix Launch Systems have signed a MoU to establish a hypersonic test bed service in South Australia. The partnership will use Southern Launch’s facilities to test Hypersonix’s hypersonic vehicles, which can reach speeds up to Mach 12. The two companies will begin collaborating on a concept of operations for a future commercial launch and return of a Hypersonix test bed vehicle. The collaboration is set to kick off with a mission planned for late 2025.
💡Hypersonix aims to make space access affordable with aircraft-like operations, allowing vehicles to fly to the edge of space and return like a plane. Their technology also envisions reducing flight times significantly, such as cutting the trip from Sydney to London to just 2 hours.
South Korea
INNOSPACE, a South Korean commercial satellite launch company, has successfully completed the fairing separation test for its first commercial orbital launch vehicle, the HANBIT-Nano. The test, conducted at INNOSPACE’s Cheongju facility, confirms the vehicle’s capability to safely place satellites into orbit by ensuring the protection of payloads and precise fairing separation.
💡The HANBIT-Nano, a two-stage rocket with a payload capacity of 90 kg, features a lightweight, carbon composite fairing and a split-nut mechanism for separation. The vehicle is slated for its inaugural launch in March 2025 from the Alcântara Space Center in Brazil.
South Korea
KULR Technology Group, Inc. has been awarded a contract valued at nearly $1 million, with options extending the total value up to $1.5 million, to supply 20793-rated battery systems to South Korea’s Nara Space (NARA). The contract is for NARA’s CubeSat mission, which will be part of NASA’s Artemis II program and involves collaboration with the Korea Astronomy and Space Science Institute (KASI).
💡The Space Battery Market is projected to reach USD 25.14 billion by 2032, reflecting increasing demand in this sector.
Singapore
Singapore-based startup Eartheye Space has raised $1.5 million in pre-seed funding to advance its online satellite-tasking platform. The fresh funds will support expansion into Africa, the Middle East, and the USA by 2025, enhance access to additional data sources, grow the team, and further develop computer-vision and machine-learning algorithms.
💡Founded in 2022, Eartheye Space aims to be the "Uber Eats" of Earth-observation data, enabling users to combine data from over 475 satellites with various sensor modalities into a unified workflow.
**Nothing in this article is intended to be or should be construed as legal or financial advice.*