SpinLaunch and Sumitomo team up for Low-Cost Space Solutions

SpinLaunch and Sumitomo team up for Low-Cost Space Solutions
by Staff Writers
Long Beach CA (SPX) Sep 11, 2023

SpinLaunch, a pioneering space company enabling rapid and sustainable low-cost access to space, and the Sumitomo Corporation ("SC") of Japan, a leading Fortune 500 global trading and business investment company, have formed a strategic partnership to expand the global market for affordable and sustainable space services. Sumitomo has also made an investment in SpinLaunch.

In recent years, the demand for telecommunication, broadcasting, and other services from satellites in Low Earth Orbit (LEO) has rapidly increased, while the availability of affordable and rapid launch capacity has decreased - creating a bottleneck in both the government and commercial markets. Additionally, with industry plans to launch ten times the number of satellites over the next decade, it is more urgent than ever to develop environmentally sustainable space solutions.

Founded in 2014, SpinLaunch has revolutionized access to space by building a ground-based, electric-powered mass accelerator launch system that delivers a low-cost, high-cadence, sustainable way to place small satellites into LEO.

By leveraging SpinLaunch's kinetic launch technology, up to 70 percent of the fuel and structures that make up a typical rocket are eliminated, dramatically reducing the carbon footprint of deploying small satellite constellations. SpinLaunch has also developed satellite solutions that complement its low-cost and high-cadence approach to space, meeting upcoming LEO constellation needs.

"SpinLaunch is disrupting the launch service industry that has traditionally been the bottleneck of space utilization globally," said Takao Kusaka, Executive Officer, General Manager, Lease, Ship and Aerospace Business Division, Sumitomo. "We are currently focusing on the development of our space business, for both national security and private sector space use, and SpinLaunch's capabilities to further advance low-cost space launch solutions is a major asset for us, our customers, and stakeholders."

Through the partnership agreement, Sumitomo obtains the right to represent SpinLaunch's mass accelerator launch services and related hardware products in Japan. Sumitomo plans to leverage SpinLaunch's capabilities to accelerate the accessibility of space, both for national security and private sector use in Japan.

"This strategic partnership marks a milestone in SpinLaunch's journey towards becoming the leading provider of low-cost space solutions globally," said Wen Hsieh, Board representative of Kleiner Perkins.

"The Sumitomo Corporation is one of the most prestigious institutions in Japan and we are excited to have them join as both a partner and investor. This collaboration will accelerate our joint commitment to disrupting the space economy with more affordable, sustainable access to space."

"SpinLaunch is poised for growth as we continue to produce high-performance end-to-end space solutions at the lowest cost in the marketplace," said Jonathan Yaney, Founder and CEO of SpinLaunch.

"This collaboration signifies our shared commitment to delivering innovative and sustainable space solutions for our customers. We are excited about the potential of this strategic partnership and our ability to collectively expand our technology capabilities and bring massive disruption to the space economy."