Google is funding a Ukrainian space startup aiming to launch rockets with novel technology

From Nasdaq: 2024-12-21 08:08:00

A small Ukrainian company, Promin, is making waves in the space industry with plans to build a new rocket in collaboration with American partners, including Alphabet. Despite challenges, the company aims to launch its first rocket, Promin 1, from Maine while conducting research and development in Dnipro.

Promin’s innovative approach involves utilizing autophagic technology to create a solid fuel rocket that can lift picosat and nanosat payloads into Low Earth Orbit for as little as $100,000 per launch. However, the company’s decision to focus on ultra-small payloads may pose challenges in a market where larger satellites are becoming more common.

Concerns loom for Promin as it attempts to establish a foothold in the U.S. space industry, given the government’s historical skepticism towards foreign rocket firms. Previous instances with companies like Rocket Lab and Firefly Aerospace highlight the challenges foreign-backed companies face in securing contracts and licenses in the U.S.

Investors eyeing Promin should tread carefully, considering the regulatory hurdles and challenges faced by other foreign rocket firms in the U.S. market. Lessons from Firefly Aerospace’s struggles with government scrutiny offer cautionary tales for potential investors, especially with the geopolitical landscape influencing the success of international space ventures.



Read more at Nasdaq: Google Is Funding a Space Startup — But I Wouldn’t Even Think About Investing In It