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Featured In
Fully informing your critical
business and research decisions
Those seeking global business and investment opportunities in the
NewSpace industry have been significantly disadvantaged by the lack of
a complete source for industry-specific expert information and analysis.
Some Companies We Track
Today, their source is NewSpace Global.
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Observer is a company-by-company database of
information and analysis. Available for every company on
the NSG 100 and NSG OTB, Observer integrates with
Thruster, NewSpace Watch, and the NSG Indices to offer a
one-stop shop for information on NewSpace companies.
Some Investors We Follow
Thruster
Thruster, NSG’s monthly market tracking report, details
the important events and other business activity in the
NewSpace industry, including:
• Leading Investors in NewSpace
• Exclusive Interviews with NewSpace Leaders
• Publicly Traded Companies in NewSpace
• Large / SmallCap Review
• Real Estate
• Technologies “Scaled” to Space
• Space-Derived Technologies Used on Earth
• Public Policy
• Point-to-Point: Western Europe, Asia, Canada,
Russia and Eastern Europe, Brazil
LETTER FROM THE EDITOR
From Knieval to Canaveral:
Why NewSpace Must Leverage Media Markets
Years before Felix
Baumgartner amazed
millions with Red
Bull Stratos, and Nik
Wallenda
tightrope
walked across the
Grand Canyon, there
Richard M. David
was Mr. Evel Knieval.
When I was a child, Knieval was the man. Knieval,
who desired to be the first
to jump a motorcycle over
the Grand Canyon, once
said: “I don’t care if they
say, ‘Look, kid, you’re going to drive that thing off
the edge of the Canyon
and die,’ I’m going to do
it. I want to be the first.
If they’d let me go to the
moon, I’d crawl all the way to [Cape Canaveral] just
to do it. I’d like to go to the moon, but I don’t want
to be the second man to go there.”
His daredevil stunts, Elvis-like
wardrobe and poetic name were a
metaphor of courage for kids of my
generation. As an adult today, I realize Knieval’s marketing prowess
and ability to leverage mass media
were perhaps as impressive as the
motorcycle jumps and the dozens of
bones he broke performing them.
dia. Unfortunately, there is much skepticism by serious “engineurs” who tolerate marketing experts
only slightly more than corporate lawyers. (Please
see “Exit Strategy / Escape Velocity” in the April
2012 issue of Thruster.) But therein lies the rub: you
might build a cutting edge smallsat or engineer a
hyper-efficient micro-thruster but if you don’t communicate it properly, will your story – like the fateful tree that falls in solitude – even be heard?
Knieval’s marketing prowess and
ability to leverage mass media
were perhaps as impressive as the
motorcycle jumps and the dozens of
bones he broke performing them.
While many hard-nosed NewSpace
executives may question the value produced by Baumgartner,
Wallenda, or Knieval, one thing is
for certain: all three generated (and
continue to generate) vast sums of
money for many of those in the me4
Thruster • September 2013
The Wright brothers faced a similar dilemma.
Following the success of the Wright Flyer, the mas-
ter of all things marketing, P.T.
Barnum, allegedly approached
the Akron duo with an offer of
$100,000 (inflation-adjusted would
be several million dollars today) to
perform aerial tricks in Barnum’s
famous traveling circus. The
Wrights refused to sign the contract because, as they explained,
“we are not circus performers.”
For the NewSpace industry to
grow properly, NSG 100, NSG
OTB, and NSG PTC leaders
Richard Phillips speaking at NewSpace 2013
must understand that the media
Photo credit: Franklin Moore
should not be feared. (Please see
“LargeCap Review” in this issue
sors, et cetera. Now is the time to rethink corporate
of Thruster.) The good news is that, for the intro- goals and create and deliver messages designed to
verted NewSpace executive who fears marketing resonate with the right audiences.”
more than an acrophobe fears base jumping, all is
not lost. Or as Caroline Venza, founder of Mission Richard Phillips, President of Phillips & Company
Control Communications, advises: “Unfortunately, an Austin-based communications strategy firm,
the majority of NewSpace companies are in the adds that “NewSpace companies do not underweeds when it comes to branding. For the most stand that a good communication strategy requires
part, they’ve gotten to where they are with little to that you position yourself as a leader on the issues
no branding, focusing instead on meeting highly that are driving the market. And most NewSpace
complex technical milestones.” As the NewSpace companies are still focused on driving media mesindustry matures from a state of nascency into a sages on ‘fire and smoke’ announcements or keythriving innovation economy, corporate leaders note speaker placements.” Phillips, who intromust learn to think beyond innovation. Venza con- duced me to his “Leadership Momentum Model”
tinues, “In this new phase, technologies are com- at the NewSpace conference last month, believes
ing to market and these companies need to attract that NSG-tracked companies must build so-called
outside stakeholders be it media, investors, spon- market momentum (as a byproduct of Speed times
Direction). While Phillips is
generally bullish on the commercialization of space, he advises like Venza who spent a decade marketing for clean tech
companies in Silicon Valley,
that understanding analogs to
successful companies in other industries can prove useful
for NewSpace market strategy.
“When Cisco Systems entered
the market with a competitive
router, Lucent and 3Com were
“In the next 10 years...a few
NewSpace companies will rise
to the challenge and those that
communicate with vision and
passion will win.”
Evel Knievel preparing for his Snake River Canyon jump
© 2013 NewSpace Global, LLC • (855) NSG-INDEX
PRINT ONCE - DO NOT FORWARD - DO NOT COPY
– Richard Phillips, President,
Phillips & Company
www.newspaceglobal.com • [email protected]
September 2013 • Thruster
5
NewSpace Watch
NewSpace Watch (www.newspacewatch.com) reports
daily on the latest events, technical progress, company
announcements, conferences, investment activity, and other
developments in the NewSpace industry.
NewSpace Watch is read regularly by industry leaders,
academics, government agents, investors, students, and
enthusiasts. Its legacy goes back over a decade and
contains over 25,000 articles.
The NSG Indices
NSG Analysts track over 700 privately and publicly held
companies across the following three live indices:
• NSG 100: Top 100 privately held companies in NewSpace
• NSG OTB: Privately held “On the Bubble” companies
• NSG PTC: Top “Publicly Traded Companies” in NewSpace
14-Day Free Trial
Click Here to Sign Up
NewSpace Global, LLC | 855.NSG.INDEX / 855.674.4633
244 5th Avenue #1609, New York, NY 10001
www.newspaceglobal.com | www.newspacewatch.com
New York • Cape Canaveral • Los Angeles • Salt Lake City • Washington, D.C. • San Francisco • Hong Kong • Boston • Beijing • Seattle • Toronto
© Copyright 2014 NewSpace Global, LLC. All Rights Reserved.
July / August 2014 • Thruster
1
Contents
I.
NSG 100 REVIEW
Avoiding the Heartbreak: NSG Companies Still Taking Their Time in the 3rd Vertical 4
Stewart Money
II.
NSG OTB REVIEW
The Proof Is In the NSG OTB Pudding
7
Cory Harrigan
III.
INDEX REVIEW
Benjamin Strevy
IV.
10
OBSERVER SNAPSHOT
Virgin Galactic
XCOR Aerospace
14
15
NSG Analysts
V.
NEWSPACE TIMELINE
The Past Months in Review from NewSpace Watch
16
Clark S. Lindsey
VI.
SMALLSAT REVIEW
Entering to Exit
20
Jigar Patel
VII. POINT-TO-POINT
CANADA:
Canadian Space Tourism Companies Working the Retail Angle
Chuck Black
2
Thruster • July / August 2014
23
RUSSIA AND EASTERN EUROPE:
Russia’s Trampoline to Nowhere Opens the Door for NewSpace
25
Andrew Tytarenko
WESTERN EUROPE:
Europe Pursues Human Spaceflight and Establishes A Domestic 3rd Vertical Market
28
Viacheslav Pronskyi
VIII. SPACELAND
What Makes a Spaceport Business Take Off?
31
Geoff Buswell
IX.
SPECIAL FEATURE
Watch This Space
35
Bob Clarebrough
X.
LEADERS OF NEWSPACE
Planning a Suborbital Future with XCOR CEO Jeff Greason
40
David Bullock
XI.
FUTURE STARS
An Interview with Bob Dylan, the World’s First Space Tortist
45
James Douglas
XII. GLOSSARY
NSG-SPECIFIC GLOSSARY
49
GENERAL GLOSSARY
49
July / August 2014 • Thruster
3
SPACELAND
What Makes a Spaceport
Business Take Off?
The United Kingdom turned rhetoric into a concrete roadmap on July 15 when details of plans were
announced at the Farnborough Airshow to realize
an operational UK Spaceport by 2018. A short list
of 8 locations across the UK (6 in Scotland, 1 in
Wales and 1 in England) were presented with a final decision expected by next March, ahead of the
general election 2 months later. The spaceport is
part of an overall UK space strategy that aims to
create 100,000 new jobs and capture a 10% market
share of a projected $680Bln global space industry by 2030. Business Secretary Vince Cable stated that “exploring the opportunities that commercial spaceflight presents, and potentially making
strategic investments in this area, will support the
growth of this thriving industry and underpin the
economy of tomorrow, making the UK the place
for space.”
ty experiments conducted in
Geoff Buswell
drop chambers, airplanes or
(in the future) suborbital spacecraft; training facilities for UAV operations, astronauts, and pilots;
STEM based courses at nearby colleges or universities; or tourists who are happy to keep their feet on
the ground and pay to visit a spaceport.
So how are the other 5th Vertical spaceport organizations around the world attracting such customers? Spaceport America is capable of serving
a wide variety of them, but it has come at significant cost. Christine Anderson, Executive Director
of Spaceport America, told NewSpace Global “We
started with just sand in the desert and so far
$218.4Mln of tax bond money from the state has
been spent on creating our state of the art facility.
We have been able to design it right from the start to
have attractive, energy efficient buildings with the
facilities located to accommodate efficient operational procedures. We can accommodate both horizontal take off with a 12,000 ft runway and vertical take-off from a location five miles away.” Virgin
But are there enough customers out there to facilitate sustainable business models in an increasingly populated spaceport marketplace? (Please
see “Spaceland” in the May 2012 issue of Thruster.)
However, the point is not only
about customers that are able to
regularly fly wealthy space tourists, launch astronauts to the
ISS, or satellites into orbit. Most
spaceports have business models which utilise other revenue
streams. (Please see “Spaceland”
in the Premier issue of Thruster.)
Examples of other revenue
streams include: on-site tenants
who build and test spacecraft or
conduct R&D there; unmanned
activities such as the launch of
sounding rockets and stratoThe Llanbedr airfield, one location for the potential UK spaceport
spheric balloons; micrograviwww.newspaceglobal.com • [email protected]
July / August 2014 • Thruster 31
Galactic CEO George Whitesides confirms the at- the largest underground iron ore mine in the world,
tractiveness of the approach: “The fact it was built which supports another high tech industry. There
from scratch with our business in mind means it is is significant potential for cross-sector innovation.”
extremely well-matched to our requirements.” Anderson goes on to explain
“We have other customers too, with UP
Aerospace already having performed
11 launches with us and SpaceX having
agreed to operate their Falcon 9-R reusable vehicle from Spaceport America.
They are scheduled to begin testing here
in the next few months.”
Spaceport Indiana is focusing on unmanned activThe town of Kiruna, within the Arctic Circle, hosts ities. Depending on customers’ needs, it offers exSpaceport Sweden, currently leading the way in pertise and facilities, such as rockets and vehicles, to
terms of spaceport facilities in Europe. Their CEO allow the testing of new innovations in ground, air,
Karin Nilsdotter said, “Kiruna has been a space city and near space environments. Spaceport Indiana’s
since 1957 and offers a one-stop shop and centre of CEO Brian Tanner said “The best analogy might be
excellence for suborbital space launches and related that we provide a ‘Ski Resort style system’ that ofactivities. In Kiruna, we offer launch infrastructure fers the ability to use our slopes, our skis, and our
and services, satellite communications and control, warm clothing… or bring your own skis and clothpayload integration, and research, test and evalua- ing to our slope. We also offer a 4D airspace mantion facilities. This is in combination with access to agement app that helps maximize the efficient use
restricted airspace, low human density areas, dry of airspace and reduce conflicts. This enables the
and stable weather conditions, and unique tour- commercial customers to use the national airspace
ism experiences as part of our spaceport offering.” system cost effectively by turning it on and off like
Nilsdotter went on and explained, “We also have a light bulb based on where you are”. Spaceport
Indiana is also providing inspiration to young people. “We offer summer camps that provide hands on
experience,” explained Tanner. “They are dealing
with real hardware and performing launches to the
edge of space at the end of their camp experience.”
One important variable
for success in a spaceport
business model is the
proximity of training facilities.
After attracting XCOR and Orbital Outfitters, will
Midland lure any further NewSpace companies?
32 Thruster • July / August 2014
According to Kevin Heath, the President and CEO
of WayPoint 2 Space, one important variable for
success in a spaceport business model is the proximity of training facilities. “Our company has put
together the most comprehensive training program
out there. 80% of training is broadly the same wherever you train, with 20% being vehicle and mission
specific, so our vision is to franchise our offering
around the world. We have already been contacted
by spaceports in Europe and the Emirates, who recognise that hosting such a training program can be
a draw to the vehicle operators.”
And what do the potential customers think about
an increasingly competitive spaceport marketplace?
Some of them are taking advantage of the greater choice and incentives, with parts of their business being split across several spaceports. Andrew
Nelson, COO of XCOR said, “We
have agreed to move significant
amounts of our R&D from Mojave
to Midland, with the production
of our Lynx vehicles taking place
at Kennedy in Florida, and operations from Kennedy, Mojave, and
Curacao. Florida and Texas were
attractive because of the extremely
favorable terms for business, as opposed to California, which is more
challenging. Keeping R&D separate from operations makes sense to us as you don’t
want free-thinking individuals on the R&D side
saying to the guys from operations (who are committed to executing the same safe processes every
day) ‘hey, did you think of trying this?’”
tion. Quite simply, they are putting more on the
table to create a successful spaceport than anyone
else. They will go above and beyond in their support if you can help make their NewSpace vision a
reality!”
“It is very positive for the
marketplace that the UK has
concluded it wants a spaceport.”
Jeff Feige heads up Orbital Outfitters, which makes
space suits for next generation space travellers and
creates full-scale spacecraft mock-ups. ORBO is the
second NewSpace company to be lured by Midland
Development Corp, with a deal announced in
January worth $7Mln. Feige is keen to emphasise
the drive of Midland to make their mark on the
NewSpace Industry. “The 100 mile radius around
Midland City accounts for 1/3 of US oil produc-
– Christine Anderson,
Executive Director,
Spaceport America
VG probably won’t be lured by the oil revenues of
Midland anytime soon, though. “We are very focused on our two locations of Mojave and New
Mexico,” said Whitesides. “But being able to have
facilities for spaceflight in many parts of the world
is positive for the industry. It will enable greater choice for space tourists and allow people to fly
close to home or seek out a specific experience in
another country. And we shouldn’t forget about
satellite deployment as many countries will want
to have the capability to launch payloads.” We may
even be seeing the growing number of spaceports
as the possible beginnings of a loose network to facilitate point to point travel in the future.
Launch of CLYD’s UKube-1 was delayed repeatedly.
Will we see under-utilized spaceports given the current trend of many more infrastructure dollars invested than vehicle dollars? Anderson thinks not. “You
are talking about large amounts of money, typically with private investors involved who will do their homework. This
will control the growth of spaceports.
However, having done their homework,
it is very positive for the marketplace that
the UK has concluded it wants a spaceport.” Nilsdotter was equally positive and
didn’t see an immediate problem with the
UK competing for customers. “Spaceport
July / August 2014 • Thruster 33
Sweden has long-term collaborations with spaceports in Mojave, New Mexico, and Florida, and we
are keen to do the same with the UK. We are building a new industry here and face similar challenges,
so it is important that we join forces across borders
to create jobs and inspire our young people to take
up STEM subjects.”
So how can the UK ensure there is a sustainable
business model and significant economic growth
stimulation from their spaceport? Certainly the UK
doesn’t have the almost guaranteed cloud-free skies
of New Mexico, or the draw of the Northern Lights
like Kiruna. But there are lot of positives too: world
experts in small satellites from 1st Vertical companies like Surrey Satellite Technology Ltd and Clyde
Space (exemplified by the recent launch on July 8
of the TechDemoSat-1 and UKube-1 spacecrafts);
potentially game-changing technology from 2nd
Vertical company Reaction Engines, which could
form the basis of the Skylon spaceplane, a published
national space strategy which has widespread support across industry, academia, and the public sector. This could be very important in attracting private investment to the spaceport and enabling the
commercialisation of cutting edge R&D; a geography allowing relatively localised supply chains; and
a very large number of multi-millionaires and billionaires – London contains the most of any city
in the world according to the recent “Times Rich
List.”
Companies Mentioned
NSG 100
NSG PTC
NSG OTB
Who knows what the UK Spaceport could enable
in decades to come? Perhaps a point-to-point global
network may enable super-fast travel with tourists
able to taste clotted cream in Cornwall, and then
sample a Caribbean beach in Curacao a couple of
hours later?
Geoff Busswell heads up CGI’s Space Applications
business and is a first-time contributor to Thruster.
© Copyright 2014 NewSpace Global, LLC (“NSG”).
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No license is granted to the user except for the user’s personal use and only one printed
version is allowed. No part of this Publication or its contents, may be copied, downloaded, stored in a retrieval system, further transmitted, or otherwise reproduced, stored, disseminated, transferred, or used, in any form or by any means, except as permitted under
the NSG User Agreement or with prior written permission. This publication is proprietary and limited to the sole use of NSG subscribers. Each reproduction of any part of this
Publication or its contents must contain notice of NSG or any of the NSG indices’ copyright. Pursuant to US Copyright law, damages for liability of infringing a copyright may
amount to $30,000 per infringement and, in the case of wilful infringement; the amount
may be up to $150,000 per infringement, in addition to the recovery of costs and attorneys’ fees. Our reports are based upon information gathered from various sources believed to be reliable but are not guaranteed as to accuracy or completeness. The information in this report is not intended to be, and shall not constitute, an offer to sell or a
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to update the information contained in this report. The publisher and/or its individual officers, employees, or members of their families might, from time to time, have a position
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