Upcoming small launch provider Astra to buy electric propulsion developer Apollo Fusion

by | Jun 8, 2021 | Finance, Seradata News

Newspace company Astra, which is developing a small launch vehicle, has revealed that it intends to purchase fellow-newspace firm and developer of satellite electric propulsion, Apollo Fusion. The announcement made on 7 June outlines Astra’s intention to acquire Apollo for US$50 million (US$30 million in stock and US$20 million cash). Additionally, there is the potential for another US$95 million in “earn-out incentives” if Apollo reaches specific – but unstated – technical and commercial milestones.

Corporate logo. Courtesy of Astra

 

Astra intends to incorporate Apollo thruster technology into its own native satellite platforms which are under development. The intention is to offer customers both a rocket to launch on and a platform for their payloads. Something made possible through the increased levels of vertical integration Astra is pursuing.

Astra is currently undergoing a “merger” with a special-purpose acquisition company (SPAC), Holicity. This transaction is planned to later this year. Once this happens then this new Apollo-transaction is expected to go ahead.

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