DIRS.INFO The most relevant business & tech news

☆ Astra defaults on debt agreement, warns it may not be able to raise needed cash
▼ + stars: | 2023-11-03 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

Struggling space company Astra disclosed in a securities filing late Friday that it defaulted on a recent debt agreement and may not be able to raise needed cash as funds dwindle. Astra twice last month failed to meet minimum cash reserve requirements associated with a $12.5 million note issuance to New Jersey investment group High Trail Capital. The debt raise first required that Astra have "at least $15.0 million of cash and cash equivalents" on hand. That liquidity requirement was adjusted after Astra failed to prove compliance a first time, to require "at least $10.5 million of unrestricted, unencumbered cash and cash equivalents." The company performed a 1-for-15 reverse stock split in September to avoid a Nasdaq delisting, which temporarily brought Astra stock above $1 a share.

Organizations: NASA, Astra, High Locations: Florida's Cape Canaveral, New Jersey

☆ Investing in Space: Regulatory hold up keeps Varda spacecraft stuck in orbit
▼ + stars: | 2023-11-02 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +3 min

CNBC's Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. There's a small spacecraft zipping around Earth right now, but, unlike most satellites in orbit, it wants to come down. The launch went great, the spacecraft has been healthy, drugs were made, but the necessary license for capsule reentry has not been granted. That may make sense for launch but it's a bit more difficult for reentry," Asparouhov said. How the stratosphere reacts to a reentry capsule in September is very different than February, which is very different than June."

Persons: CNBC's Michael Sheetz, it's, Varda —, Delian Asparouhov, Varda's, Varda, Asparouhov, " Varda Organizations: Air Force's Utah, Federal Aviation, Air Force, FAA Locations: Varda, Australia, Utah

☆ Elon Musk says SpaceX's Starlink business ‘achieved breakeven cash flow’
▼ + stars: | 2023-11-02 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +2 min

SpaceX CEO Elon Musk announced Thursday that the company's Starlink satellite internet business "achieved breakeven cash flow." Two years ago, Musk emphasized that making Starlink "financially viable" required crossing "through a deep chasm of negative cash flow." Musk has discussed spinning off Starlink to take it public through an initial public offering once the business was "in a smooth sailing situation." Last year, Musk told employees that taking the business public wasn't likely until 2025 or later. "Being public is definitely an invitation to pain," Musk told SpaceX employees in 2022.

Persons: Elon Musk, Musk, Gwynne Shotwell, Starlink Organizations: SpaceX, Twitter Locations: Bastrop , Texas, Austin

☆ Space Force awards $2.5 billion in rocket contracts to SpaceX and ULA for 21 launches
▼ + stars: | 2023-11-01 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +3 min

A SpaceX Falcon Heavy rocket launches on its mission with a classified payload for the U.S. Space Force at Cape Canaveral, Florida, on Nov. 1, 2022. The U.S. Space Force assigned 21 rocket launches to SpaceX and United Launch Alliance, worth about $2.5 billion in total, the military branch told CNBC. Space Force expanded the NSSL Phase 2 program significantly since naming SpaceX and ULA as its two launch providers in 2020. Space Force had previously announced that of mission assignments, 60% would go to ULA and 40% to SpaceX. The final Phase 2 assignments come as Space Force prepares to ramp up the NSSL program even further with Phase 3.

Persons: Lockheed Martin, Doug Pentecost, ULA, Elon, Pentecost, SpaceX's, ULA's Vulcan Organizations: SpaceX, Heavy, U.S . Space Force, Space Systems Command, Boeing, Lockheed, Falcon, Force's, Systems Command, Tuesday, United Launch Alliance, CNBC, USSF, Space Force, CNBC PRO Locations: Cape Canaveral , Florida, ULA, U.S

☆ Pentagon awards $1.3 billion in contracts to Northrop Grumman and York for 100 satellites
▼ + stars: | 2023-10-30 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

The Pentagon's Space Development Agency on Monday announced about $1.3 billion in contracts to York Space and Northrop Grumman to build communications satellites. Under the T2TL-Alpha awards, Northrop will build 38 "data transport" satellites for $732 million, while York will build 62 satellites for $617 million. Northrop's award to build Alpha variant satellites for T2TL comes months after the defense giant won an SDA order for Beta variants. In August, Northrop won a $733 million award to build 36 satellites for the T2TL-Beta segment of PWSA, alongside Lockheed Martin . The SDA has previously awarded contracts to build and operate satellites in its fleet to SpaceX and L3Harris, in addition to Northrop, York and Lockheed.

Persons: Northrop Grumman, Northrop, Lockheed Martin Organizations: Space Development Agency, York Space, Northrop, Alpha, Lockheed, Pentagon, Space Force, SpaceX, CNBC Locations: York

☆ Investing in Space: How the Pentagon sizes up China’s military strength in space
▼ + stars: | 2023-10-26 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +4 min

CNBC's Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. Coming in at a whopping 212 pages, the document represents the latest in-depth, albeit unclassified, view of China's military ambitions. The Pentagon highlighted that the space capabilities of the Chinese military, or PLA, are continuing to "mature rapidly" thanks to "significant economic and political resources to growing all aspects of its space program." China's PLA has a "Strategic Support Force," or SSF, under which is the "Space Systems Department", or SSD, that leads its military space operations. The Pentagon emphasized that most of those Chinese satellites can "support monitoring, tracking, and targeting of U.S. and allied forces worldwide, especially throughout the Indo-Pacific region."

Persons: CNBC's Michael Sheetz, landers, it's, Richard DalBello, China isn't Organizations: Taiyuan Satellite, CNBC's, Pentagon, PLA, Force, Systems Department, U.S, China, GPS, NASA Locations: Taiyuan, Shanxi Province, United States, Xi's, China, Namibia, Pakistan, Argentina, Kenya, U.S, Baku

☆ Rocket Lab expects to resume Electron launches before year-end after September failure
▼ + stars: | 2023-10-25 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

An Electron rocket launches the Baby Come Back mission from New Zealand on July 17, 2023. Rocket Lab expects to resume launches of its Electron vehicle before the end of the year, the company announced Wednesday. The Federal Aviation Administration, which is overseeing Rocket Lab's failure investigation, authorized the company to resume Electron launches from its facility in New Zealand. Rocket Lab stock rose about 5% in after-hours trading from its close at $4.09 a share. Rocket Lab is scheduled to report third-quarter results after markets close Nov. 8.

Persons: Peter Beck Organizations: Rocket, Federal Aviation Administration, FAA, SpaceX, CNBC Locations: New Zealand

☆ ULA targets Christmas Eve for inaugural Vulcan rocket launch, CEO says
▼ + stars: | 2023-10-24 | by ( Simona Riccardi | In Sriccardi | ) www.cnbc.com time to read: +2 min

United Launch Alliance plans to launch the inaugural flight of its Vulcan rocket on Christmas Eve, CEO Tory Bruno told CNBC's Morgan Brennan on Tuesday. The Vulcan rocket for the Cert-1 mission stands at SLC-41 during testing in Cape Canaveral, Florida, on May 12, 2023. ULA's path to the first Vulcan launch faced several delays earlier this year, including the explosion of an engine during testing by its supplier Blue Origin, previously reported by CNBC. Following the incident, Bruno told CNBC in a "Manifest Space" podcast interview that the company still planned to fly its heavy-lift rocket by late 2023. The company added a massive contract to launch Amazon's Kuiper satellites to its previously government-heavy backlog for Vulcan.

Persons: ULA, Lockheed Martin —, Bruno, Tory Bruno, CNBC's Morgan Brennan, Vulcan's, ramping, — CNBC's Morgan Brennan, Michael Sheetz Organizations: Boeing, Lockheed, CNBC Technology, Summit, United Launch Alliance, Vulcan, Cert, SLC, CNBC Locations: Cape Canaveral , Florida

☆ Investing in Space: On satellites, the invisible backbone of global industry
▼ + stars: | 2023-10-19 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +4 min

Shipping company Maersk posted record annual earnings for 2022 but warned that profits are set to tumble this year as a "more balanced demand environment" emerges. CNBC's Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. GPS, geospatial intelligence and satellite communications are the invisible backbone that powers the world's largest industries today." That's the core of Space Capital managing partner Chad Anderson's pitch to new investors about the value of the space industry – and I think the "invisible backbone" element serves as an important reminder. Satellites have been, are, and will continue to be a critical backbone of the world's industries – even if we don't notice.

Persons: CNBC's Michael Sheetz, Chad Anderson's, David Sherry, Sherry, Starlink, We've, Lloyd Organizations: Shipping, Maersk, Space Capital, Starlink, Mitsui, Eastern Pacific Shipping, Polembros Shipping Locations: Danish, Mitsui O.S.K

☆ SpaceX, Blue Origin, Virgin Galactic executives urge senators to improve the FAA
▼ + stars: | 2023-10-18 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +3 min

With the pace of rocket launches accelerating, and competition from China rising, executives from top U.S. space companies on Wednesday urged senators to improve the Federal Aviation Administration's regulatory and licensing processes. The Senate Subcommittee on Space and Science heard from a trio of company representatives from SpaceX, Blue Origin and Virgin Galactic , as well as a pair of industry experts. Gerstenmaier emphasized that the FAA's commercial space office "needs at least twice the resources that they have today" for licensing rocket launches. Wayne Monteith — a retired Air Force brigadier general who also led the FAA's space office — said that Congress should consider consolidating space regulations. "I believe a more efficient one stop shop approach to authorizing and licensing space activities is necessary," Monteith said.

Persons: We've, Bill Gerstenmaier, Gerstenmaier, We're, Phil Joyce, New Shepard, Caryn Schenewerk, Wayne Monteith —, —, Monteith Organizations: SpaceX, NASA's Kennedy Space Center, Federal Aviation, Build, NASA, Virgin Galactic, FAA, CNBC, Blue, Air Force Locations: Cape Canaveral , Florida, China

☆ Space sector investors followed government contracts in the third quarter, report says
▼ + stars: | 2023-10-16 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +2 min

Investment in the space sector, especially from venture capital, is consistently flowing into companies that are pursuing and winning government contracts, according to a report Monday by New York-based Space Capital. The firm's third quarter report found that space infrastructure companies brought in $1.6 billion of private investment during the third quarter. The quarterly Space Capital report divides investment in the industry into three technology categories: infrastructure, distribution and application. Venture capital accounted for 50% of the third quarter's investment in space infrastructure, tracking with the historical trend of VCs representing the primary contributors to space investment. Space Capital highlighted the trend of companies and investors chasing government funds as apparent in sub-sectors within space infrastructure, particularly in emerging markets such as space stations and the moon.

Persons: Chad Anderson, Anderson, it's Organizations: International Space Station, Investment, New, Space Capital, CNBC, Space, Infrastructure, Venture, Logistics Locations: New York

☆ SpaceX's Falcon Heavy launches $1 billion asteroid mission for NASA
▼ + stars: | 2023-10-13 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: 1 min

A replay is available in the video player above.] SpaceX's powerful Falcon Heavy rocket successfully launched on Friday morning, carrying a NASA mission bound for a distant asteroid. Targeting the asteroid Psyche, the eponymous NASA mission is flying a spacecraft — about the width of a tennis court — on a journey of almost six years and about 2.2 billion miles, arriving at the planetary body in July 2029. NASA wants to study the composition of the asteroid, which the agency describes as "an unusual object likely rich in metal." The Psyche spacecraft is armed with a variety of scientific tools, such as instruments for studying the asteroid's magnetic field and chemical makeup.

Organizations: NASA, NASA's Kennedy Space Center Locations: Florida

☆ Investing in Space: A reality check on SPAC frenzy revenue projections
▼ + stars: | 2023-10-12 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +13 min

Overview: Forecast or fantasyWe're now at least two years on from when a slew of space companies went public during the SPAC frenzy, and, look, none of them look great. Now a bit further down the road, I want to look at a different financial metric: 2023 revenue projections. I ran an informal series for a while to mark when a space company announced it was going public. The rest of the pack isn't as on the mark: A few companies are roughly halfway to their earlier 2023 revenue projections, or performing even better. Spire forecast 2023 revenue of $227 million and is closing in on about $107 million.

Persons: Angela Weiss, CNBC's Michael Sheetz, it's, I'd, Here's, Derek Tournear, Ron Rosano, Trevor Beattie, Namira Salim, –, REx, Christopher Povak, Lisa Watson, Morgan, – Watson, Morgan Starliner, General, NASA Astrobotic, Andy Lapsa Organizations: New York Stock Exchange, AFP, Getty, Terran, Galactic Astra, CNBC, Pentagon, Space Development Agency, LinkedIn, Galactic, NASA, NASA NRO, Soyuz, – Reuters, Reuters SpaceX, FAA, Federal Aviation Administration, IAC, Lunar Research, SpaceX, Boeing NASA, Moonshots Capital, Lavrock Ventures, Veteran Fund, Mana Ventures, AIN Ventures, Capital Factory, Astra, – Bloomberg, ViaSat, Viasat Locations: Russian, Azerbaijan, Russia, Venezuela, South Africa, Florida, Washington, CNBC Los Angeles

☆ Viasat won't replace damaged Americas satellite, moves up financial targets
▼ + stars: | 2023-10-12 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +2 min

A long-exposure photo shows a trail left by SpaceX's Falcon Heavy rocket while launching the ViaSat-3 Americas satellite from Florida on April 30, 2023. Viasat shares rose on Thursday after the company said it expects to meet financial growth targets earlier than expected and that it won't need to replace a damaged $750 million communications satellite. Viasat expects to be free cash flow positive in the first half of 2025, earlier than the second half of 2025 it previously forecast. The company in July disclosed the malfunction with the recently launched Viasat-3 Americas satellite, also known as "ViaSat-3 F1," that occurred while deploying the reflector of the spacecraft's antenna. Together, the pair of Viasat insurance claims total $768 million, which industry executives previously expected would roil the specialty space insurance market.

Organizations: ViaSat, Viasat Locations: Florida, Americas

☆ Shipping giant Maersk to add SpaceX's Starlink internet to more than 330 ships by early next year
▼ + stars: | 2023-10-12 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

Danish logistics giant Maersk is adding SpaceX's Starlink to more than 330 container ships, the companies announced Thursday. Maersk said the installation of the Starlink internet service is expected to be complete by the first quarter of next year, with the satellite network set to provide internet speeds of over 200 Megabits per second. Starlink is the global communications network that Elon Musk's company has been building, with more than 5,000 satellites launched and counting. The company initially targeted consumer customers, and now says Starlink has upward of two million subscribers. It has expanded into other markets — including national security, enterprise, mobility, maritime and aviation — and disrupted the existing satellite communications sector.

Persons: Maersk, Technology Leonardo Sonzio, Starlink Organizations: of Fleet Management, Technology, Elon, Maersk, SpaceX

☆ Amazon launches first internet satellite prototypes
▼ + stars: | 2023-10-06 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +3 min

Even ULA's details about the launch are limited, with the info provided comparable to when the rocket company flies classified spy satellites for the U.S. government. watch nowLast year, Amazon announced the biggest corporate rocket deal in the industry's history to launch Kuiper satellites, signing launch contracts with ULA, Arianespace, and Jeff Bezos' Blue Origin. As part of that deal, Amazon expects to pay about $7.4 billion for Kuiper launches over the next five years. Amazon is playing catch up to SpaceX, which has grown its Starlink satellite internet service to more than 2 million customers. This year Amazon revealed a trio of satellite antennas that it plans to sell to Kuiper customers.

Persons: Paul Hennessey, Jeff Bezos, Elon Musk Organizations: Alliance, V, Cape Canaveral Space Force, Anadolu Agency, Getty, United, U.S ., Amazon, Kuiper, SpaceX, Elon, Seattle – Locations: Cape Canaveral , Florida, United States, Florida, ULA, Seattle, Washington, Redmond, Kirkland, San Diego, Austin , Texas , New York City

☆ Watch Elon Musk give updates about SpaceX from annual space congress
▼ + stars: | 2023-10-05 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

Elon Musk is speaking Thursday during the world's annual space congress, where the SpaceX CEO is expected to give updates on development of the company's monster Starship rocket. SpaceX earlier this year made its first attempt at launching Starship into space, but the craft exploded a few minutes into the test flight. The company is now preparing to make its second Starship flight attempt, as regulators review its application for a launch license. Musk is speaking virtually at the 74th edition of the International Astronautical Congress (IAC), which this year is held in Baku, Azerbaijan. The space conference comes two weeks after Azerbaijan military forces converged on the disputed Nagorno-Karabakh region, to the west of Baku.

Persons: Elon Musk, Musk, Ilham Aliyev Organizations: Elon, SpaceX, International Astronautical Congress, IAC, Azerbaijan Locations: Baku, Azerbaijan, Mars, Nagorno, Karabakh

☆ Washington reusable rocket startup Stoke Space raises $100 million
▼ + stars: | 2023-10-05 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +2 min

Washington-based startup Stoke Space raised $100 million in new funds, the company announced Thursday, as it aims to develop a fully reusable rocket called "Nova." Stoke's latest investment round was led by Industrious Ventures – with the firm's Steve Angel, chairman of chemicals giant Linde , joining the Stoke board of directors. While a number of U.S. companies are aiming to develop reusable rockets to compete with the success of Elon Musk's SpaceX, Stoke is taking a different approach from its rivals. Stoke is developing Nova to be a "medium" class rocket that can deliver 5,000 kilograms to low Earth orbit. That puts Nova in the middle of the launch market, between Rocket Lab's "light" Electron and SpaceX's "heavy" Falcon 9 in terms of capability.

Persons: Steve Angel, fundraise, Bill Gates, Andy Lapsa, Elon, Lapsa, Nova Organizations: Stoke Space, Linde, Stoke, University of Michigan, Sparta Group, Breakthrough Energy, Point72 Ventures, MaC Ventures, Toyota Ventures, CNBC, SpaceX Locations: Washington, Stoke

☆ Investing in Space: Trust NASA's private orbital station development process
▼ + stars: | 2023-10-05 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +3 min

NASA astronaut Frank Rubio peers out of a window aboard the SpaceX's Crew Dragon spacecraft Freedom while docked to the International Space Station. I don't know if NASA's Angela Hart is a Sixers fan, but her take on the current landscape of private space station development matches the "trust the process" rallying cry that the Philadelphia basketball team made so famous. And I agree with Hart, NASA's top commercial space station official: It's early days of companies taking the lead on orbital research habitats. To rewind a bit here: The International Space Station is expected to retire in 2030, so NASA is helping fund development of next-generation orbital habitats. With all that said, three key facts in the private space station landscape haven't changed:

Persons: Frank Rubio, CNBC's Michael Sheetz, NASA's Angela Hart, Hart, Northrop Grumman, Lockheed Martin Organizations: NASA, International Space, Sixers, Philadelphia basketball, Cargo, Voyager, Airbus, Lockheed, Origin, Blue, SpaceX Locations: U.S

☆ FCC enforces first space debris penalty in $150,000 settlement with Dish
▼ + stars: | 2023-10-02 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

Signage is seen at the headquarters of the Federal Communications Commission in Washington, D.C. The Federal Communications Commission announced a settlement with Dish Network on Monday in the regulator's first penalty related to space debris. Dish admitted it was liable for failing to properly dispose of the EchoStar-7 broadcast communications satellite, and agreed to pay a fee of $150,000, the FCC said. Dish launched the EchoStar-7 satellite in 2002 and planned to remove it from service in May 2022. The company had previously agreed to an "orbital debris mitigation plan" with the FCC to relocate the satellite.

Persons: Loyaan Egal Organizations: Federal Communications Commission, Washington , D.C, Dish Network, FCC, Dish Locations: Washington ,

OneWeb, the British satellite giant, completed its combination with French rival Eutelsat Thursday, setting the stage for a European challenger to Elon Musk's space internet venture Starlink. It comes as competition is heating up between different players in the multibillion-dollar space industry. Likewise, OneWeb also targets enterprise customers, but offers a different service capability thanks to its LEO network – similar to SpaceX's Starlink satellite internet. Eutelsat will remain headquartered in Paris, and OneWeb will continue operating in London with its name changed to Eutelsat OneWeb. Commercial deals are gaining traction in the space industry, with Musk's Starlink service working alongside businesses including Spain's Telefonica and French firms Marlink and Speedcast.

Persons: Elon, Morgan Stanley, OneWeb, Starlink, Eutelsat, Eva Berneke, Neil Masterson, Masterson, Musk's Organizations: Telecom Italia, Deutsche Telekom, Euronext Paris Stock, London Stock Exchange, Eutelsat, CNBC, Spain's Telefonica, SpaceX, SES Locations: British, Orange, Paris, London

☆ Investing in Space: Japan's ispace opens Denver headquarters as companies chase moon market
▼ + stars: | 2023-09-28 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +4 min

The Earth rises above the surface of the moon, as seen from the company's lander in lunar orbit in April 2023. CNBC's Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. One company is pushing to tap two of those markets: Tokyo-based lunar lander company ispace is rebooting its U.S. subsidiary, aiming to be a key transportation provider in the nascent moon business. The new Apex 1.0 lander is replacing its previously planned "Series 2" lander, Garan said. We haven't really demonstrated the ability to take commercial payloads to the lunar surface.

Persons: CNBC's Michael Sheetz, April's crunching, Ron Garan, Garan's, ispace, Garan, We're, haven't, they're Organizations: CNBC's, NASA, Apex, ispace, U.S ., Payload Services Locations: China, India, Japan, United States, Tokyo, Denver , Colorado, U.S, ispace U.S, Denver

☆ Blue Origin, Sierra Space weigh future of Orbital Reef space station as partnership turns rocky
▼ + stars: | 2023-09-28 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +2 min

The Orbital Reef space station partnership between Jeff Bezos' Blue Origin and Sierra Space is on rocky footing, CNBC has learned. The companies announced Orbital Reef as a co-led project in 2021, but updates about the project dried up in the past year. It's becoming increasingly likely that Blue Origin and Sierra Space will go their separate ways, leaving behind joint efforts to develop Orbital Reef, according to those sources. Shortly after unveiling the Orbital Reef project, Blue Origin won a $130 million contract from NASA for design work on the private space station. "Our team is currently testing window frames and materials in a relevant space environment," Blue Origin said, without mentioning Orbital Reef by name.

Persons: Jeff Bezos, It's, Rebecca Wickes, Wickes, Sierra Organizations: CNBC, Space, Origin, NASA, Sierra

☆ SpaceX wins first Pentagon contract for Starshield, its satellite network for military use
▼ + stars: | 2023-09-27 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +2 min

The Pentagon has awarded Elon Musk's SpaceX its first confirmed contract for the Starshield network it's developing, a military-specific version of the company's Starlink satellite internet system, the defense agency said Wednesday. A Space Force spokesperson confirmed that SpaceX on Sept. 1 was awarded a one-year contract for Starshield with a maximum value of $70 million. SpaceX did not immediately respond to CNBC's request for comment on the Starshield contract. The Pentagon is already a high-value buyer of the company's rocket launches and had shown increasing interest in its Starlink satellite internet. SpaceX's award for Starshield follows its June win of a Pentagon contract to buy an undefined number of Starlink ground terminals for use in Ukraine.

Persons: Elon, Ann Stefanek, Starshield, — CNBC's Claudia Johnson Organizations: Pentagon, SpaceX, Space Force, Starshield, Space, CNBC, Department of Defense, Bloomberg Locations: Ukraine

☆ FAA closes investigation into Blue Origin rocket failure, requires 21 'corrective actions'
▼ + stars: | 2023-09-27 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +2 min

The Federal Aviation Administration closed its investigation into last year's failed flight of a cargo mission by Jeff Bezos' Blue Origin, the regulator announced Wednesday. Blue Origin is required by the FAA to "implement 21 corrective actions," the regulator said in a statement. The FAA noted that Blue Origin will not be clear to launch New Shepard until after Blue Origin implements "all corrective actions that impact public safety" and receives an updated launch license. "We've received the FAA's letter and plan to fly soon," a Blue Origin spokesperson said in a statement. Earlier this year, Blue Origin said the source of the issue was an overheated part in the rocket engine's nozzle.

Persons: Shepard, Jeff Bezos, We've, New Shepard Organizations: Federal Aviation Administration, FAA, Shepard, Origin, BE, Blue Locations: West Texas, Texas, New

Search resuls for: "Michael Sheetz"

25 mentions found