🚀Space Business: Sailor Moon

What does racing yachts have to do with launching rockets?

“Water is a mischievous thing,” Jamie France says, and the Rocket Lab executive who manages the company’s flagship Electron launch vehicle would know.

France spent the start of his career supporting the teams behind New Zealand’s entries into the America’s Cup sailing race. If that seems decidedly low-tech, think again: Engineers are carefully tracking and modeling how these boats move through the water, seeking the tiniest advantages. France was part of the team that introduced hydrofoils to the iconic sailing race, leading to wind-powered vehicles that now reach speeds of 99 kph (62 mph).

When he joined Rocket Lab (NYSE:RKLB) in 2014, it seemed like France left the ocean behind. But in 2018, after the Electron rocket began regular service, the company decided that the future of its business involved making the rocket’s first stage reusable, like that of SpaceX’s industry-leading Falcon 9, and it was back in the water again. On July 14 (July 15 in New Zealand), Rocket Lab’s next mission for NASA will also see an updated booster pulled out of the ocean in a reusability test.

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The hardest part of reusing a rocket is getting it back from space. The Falcon 9 uses its engines to maneuver and brake before landing back on Earth, but engineers determined that the much-smaller Electron couldn’t carry the extra weight of fuel to do that and still deliver large enough payloads. Instead, it would use a parachute to set itself down gently into the ocean. In 2021, the company recovered two different boosters from the Pacific ocean near its New Zealand launch site.

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The original plan was then to start catching the booster with a helicopter as it drifted down from the heavens. This was how the first spy satellites delivered their photos, but Rocket Lab found it impractical for catching used booster stages. The only successful capture in 2022 ended when the pilot quickly released the booster for safety reasons. France says that issues ranging from operating at night, changing weather, and optimal launch trajectories too far out at sea for the helicopter ruled out the approach.

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But when engineers tore apart the boosters they pulled out of the water, they were surprised to find that the vehicle could survive immersion and be reflown with some modifications. It’s a three-part problem, per France: First, the electronics access ports must be sealed to keep them from being exposed to salt water. Second, designers are changing some of the metal used to construct the rocket because salt water causes them to act as batteries and corrode. Finally, there’s recovery operations—ensuring that the rocket is plucked from the water quickly, but also safely.

For this mission, Rocket Lab is trying a new ship that will use a crane with two mounting points to bring the rocket over the side, instead of pulling it on over the stern. Then, the booster will be evaluated to see how the water-proofing and other modifications held up. France is confident that the company is “90% there” and past the worst of it. While he doesn’t expect the booster from this mission to be reused, he expects progress after one or two more sea landings. Rocket Lab will, however, use a refurbished engine from one of its previously recovered boosters in an upcoming mission to validate its plans.

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If the company can refly its boosters on a regular cadence, it will be able to drive down the cost of its primary product, though France wouldn’t share Rocket Lab’s forecasts of how much. Beyond saving on the materials and time of construction, he notes that redeploying the company’s staff to work on the Electron’s expendable stages will increase the overall flight rate and improve the company’s operating margins.

Rocket Lab is one of the few launch vehicle makers to challenge SpaceX’s virtual monopoly in the industry; it’s also developing a larger vehicle called Neutron that will compete directly with the Falcon 9. Beyond France’s return to the vagaries of salt water, he says something else about his employer reminds him of the world of high-end sailboat racing: “This is the closest I’ve felt to an organization that operates like a professional sports team, a very focused mission, iterating fast.”

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Space Business will be off next week and return on July 26. Happy Bastille Day!

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IMAGERY INTERLUDE

Yesterday marked a full year of operations for the James Webb Space Telescope, a massive mirror complex sitting a million miles from the Earth and peering deep into the universe. To mark the occasion, NASA released a new image of the Rho Ophiuchi cloud complex, which, at 390 light years from our planet, is the closest location to humanity where new stars are born.

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The Rho Ophiuchi cloud complex, the closest star-forming region to Earth.
Image: NASA, ESA, CSA, STScI, Klaus Pontoppidan (STScI)

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SPACE DEBRIS

China wins methane space race. The Chinese company LandSpace launched the first rocket fueled by methane and liquid oxygen into orbit. In the US, SpaceX, Blue Origin, United Launch Alliance, and Relativity Space are developing vehicles using the propellant but none have made it to space. Methane, aka natural gas, burns cleaner and more efficient than traditional rocket fuel—and it can be found on Mars.

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Blue Origin engine explodes on test stand. A methane-fueled BE-4 rocket engine exploded during testing on June 30, according to a CNBC report. The long-delayed engine was being trialed ahead of delivery to United Launch Alliance, which is using Blue Origin’s propulsion system in its forthcoming Vulcan rocket. ULA CEO Tory Bruno said he didn’t expect the incident to delay the launch of the rocket, the timing of which is still unclear.

Astranis to launch internet satellite for the Philippines. The San Francisco firm builds low-cost communications satellites for specific customers; it’s next deal will provide service to 2 million residents of the south Asian archipelago after launching in 2024.

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India prepares a second attempt at a Moon landing. The Indian Space Research Organization is aiming to launch a robotic moon lander dubbed Chandrayaan-3 on July 14, which would tee up a landing attempt in late August. If successful, it will be the fourth nation to perform a controlled landing on the Moon; its last attempt in 2019 failed.

Astra scrambles for survival. The rocketmaker is turning to financial engineering to keep its doors open. This week, it announced a stock split designed to keep its shares trading publicly on the Nasdaq exchange and raise $65 million. Last month, it incorporated a new subsidiary for its revenue-generating space propulsion business, known as Apollo Fusion before it was acquired, which might be a play to spin it out or acquire independent funding.

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What space ETFs can teach us. An update on UFO and ARKX, two of the most prominent exchange-traded funds aiming to give public investors balanced exposure to the space economy.

Aerojet acquisition gets a Warren retort. US Sen. Elizabeth Warren and three other senators questioned whether defense contractor L3Harris’s purchase of propulsion specialist Aerojet Rocketdyne would benefit the public.

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Hot spots and cold relationships. This is a fascinating story about a mysterious hot spot on the Moon, and the difficulty (and potential) of uniting US and Chinese space science.

Last week: Is space solar power finally ready for prime time?

Last year: Engineers need better tools to design spacecraft and robots.

This was issue 188 of our newsletter. Hope your week is out of this world! Please send your designs for future space yachts, tips, and informed opinions to tim@qz.com.