INNOSPACE (KS:462350) has signed a strategic MoU with Saturn Satellite Networks, Inc. (Saturn), a U.S.-based satellite company headquartered in Florida. The companies will jointly develop next-generation satellites, commercialize complementary products and services and explore strategic investment opportunities, including the potential establishment of a joint venture (JV) aimed at expanding into the U.S launch services market.
Through this partnership, Saturn will develop, with the support of INNOSPACE, a next- generation of LEO satellite, the Caelsat, optimized for INNOSPACE’s HANBIT-Mini launch vehicle. The Caelsat satellite is designed for more than ten years of operation and can provide a stable power supply of over 1000W to onboard payloads. To reduce launch costs, the Caelsat will feature an integrated deployment mechanism capable of efficiently accommodating multiple satellites within a single launch vehicle fairing.
The development of the Caelsat satellite will be led by Space Systems Korea (SSK), Saturn’s South Korean affiliate. Launch services for the satellite constellation projects jointly pursued by both companies will primarily be provided by INNOSPACE.
The ‘Skycel’ project, which focuses on building a 5G Non-Terrestrial Network (NTN), is the initial use case for this satellite. The project involves 120 LEO satellites, with a minimum of eight launches required, based on the HABIT-Mini standard. These launches will be carried out using INNOSPACE’s launch services.
As part of the joint vision, INNOSPACE and Saturn plan to establish a joint venture to advance into the U.S. space launch services market.The two companies will also explore strategic investment collaborations aimed at long-term business growth. This initiative is expected to broaden launch service offerings to U.S. customers and lay the groundwork for further expansion in the global space industry.
This partnership with INNOSPACE enables Saturn and its Korean affiliate, Space Systems Korea, to offer an integrated satellite platform and launch solution which should achieve the lowest cost point for any customer that is looking to develop their own commercial and government LEO satellite constellations,” said Tom Choi, Chairman of Saturn. “INNOSPACE’s ability to launch from virtually any location, subject to export approvals, provides additional flexibility and attractiveness to our joint offering. We strongly believe U.S. customers will be excited to see a new launch entrant to the marketplace that combines both extreme technical competence, reliability, and affordability. We look forward to building a bright future with INNOSPACE.”
This agreement marks a significant milestone in building a joint value chain that spans from satellite and launch vehicle development to launch and satellite services,” said Soojong Kim, CEO of INNOSPACE. “By combining INNOSPACE’s space launch technologies with Saturn’s expertise in satellite development and operations, we aim to accelerate global market penetration in the U.S. and strengthen our competitiveness in the commercial space industry through close partnership.”