Mid-week Space News (Funding, ISS Resupply, Commercial Stations, Orbital Power, European Restructuring, Launcher Development, Mars Analog)

This week, we provide a digest of key points ranging from large-scale procurement by satellite manufacturers, technical issues with the new ISS resupply ship 'Cygnus XL', regulatory design for commercial space stations, 'PPAs' for orbital power, restructuring of the European satellite industry, progress on PLD Space's Miura 5, to NASA's second CHAPEA mission.

1. Wave of Funding: ReOrbit and Apex

Finnish satellite manufacturer ReOrbit has raised €45M in a Series A round. This is the largest equity-only Series A in Finnish history, and the company will strengthen its mass production system against the backdrop of defense and sovereign satellite demand. The round was led by Springvest, with participation from Varma, Icebreaker.vc, and others.

US-based Apex has raised $200M in a Series D round, bringing its valuation to over $1B. The company plans to accelerate the mass production of its standardized satellite buses (100–500kg class) and expand production capacity by 50%. It is also moving forward with the expansion of its manufacturing facilities, fueled by growing demand for defense and observation capabilities.

2. ISS Resupply: Propulsion Trouble on First Flight of 'Cygnus XL'

Northrop Grumman's new Cygnus XL (NG-23) has delayed its arrival at the ISS. Two orbital lift-up burns stopped earlier than planned, and NASA is currently considering a new arrival schedule. The cargo consists of approximately 11,000 pounds of supplies and experimental equipment. The launch was conducted on a SpaceX rocket.

3. Commercial Stations: Vast Supports New NASA Policy / Axiom x Bavaria

NASA's CLD Phase 2 is moving toward a new policy of aiming for 4-person, 30-day demonstrations through multiple funded Space Act Agreements. Vast CEO Max Haot expressed support, calling it the 'right direction' (with expectations for an earlier award timeline).

Meanwhile, Axiom Space announced that the German state of Bavaria has signed a commitment document for participation in future Axiom missions. Katya Echazarreta from Mexico also announced a seat reservation for a future flight, highlighting efforts to expand the footprint in Latin America.

4. Orbital Power: Star Catcher and Astro Digital Sign PPA

Star Catcher has signed a Power Purchase Agreement (PPA) with Astro Digital. The concept involves 'topping up' power to other satellites from its own orbital power-beaming network, which the company explains can scale the output of kilowatt-class satellites by a factor of 10. The goal is to increase power margins without requiring major modifications to the customer's satellite.

5. Restructuring of the European Satellite Industry: 'Project Bromo'

Airbus, Thales, and Leonardo are discussing a satellite manufacturing JV (valued at approximately €10B) under the working title 'Project Bromo'. The new company, based in France, aims to compete with US and Chinese players in terms of price and speed for LEO satellite mass production. It is reported that a framework agreement within the year is in sight.

6. Small Rocket Progress: PLD Space 'MIURA 5'

Spain's PLD Space has successfully completed a burst test of the MIURA 5 first stage. This is a key milestone toward the first launch in early 2026, and the company is proceeding with testing and certification in stages.

7. Mars Analog: CHAPEA Second Mission to Begin October 19

NASA's second CHAPEA mission (378 days) is scheduled to begin on October 19, 2025. The crew will live and conduct EVAs in a 3D-printed habitat (approx. 158㎡) in Houston under communication delays and resource constraints to collect psychological, physiological, and operational data. The first mission concluded in July 2024.

Summary

Mass-production-oriented satellite buses, the generational shift in resupply ships, the clarification of CLD demonstration requirements, and European integration. All of these are moves that change market structure and investment allocation, with the keywords being 'cost, speed, and resilience'. Pieces of 'space infrastructure' such as orbital power and lunar logistics are also beginning to fall into place. From next week onward, I will continue to follow the tripartite progress in regulation, capital, and technology.

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