Moon Express Raises $ 12.5 Million for Commercial Lunar Landers

Moon Express Raises $ 12.5 Million for Commercial Lunar Landers

Moon Express Raises $ 12.5 Million for Commercial Lunar Landers





Moon Express Raises $ 12.5 Million for Commercial Lunar Landers






                    


Bob Richards, the CEO of Moon Express, believes that the funding the company has raised puts him on track to launch his first lunar mission in July 2020.

                    Credit: Moon Express




		BREMEN, Germany - Moon Express, a former competitor of the Google Lunar X Prize that develops commercial lunar launchers, has raised $ 12.5 million for further developmentof your spacecraft for commercial and governmental customers.

		The company said in a statement on October 1 that it closed a $ 2.5 million bridge round led by the Miami-based Minerva Capital Group. He has also raised $ 10 million from a planned $ 20 million Series B round, led by a leading undisclosed investor.

		"Moon Express has a unique and well thought-out economic model that we believe is attractive," said Jocelyn Cortez-Young, managing partner and founder of Minerva Capital Group, in a statement.

He[[Moon Express has a great plan to explore the solar system]

		The investment of Moon Express is the first investment reported in a space company by Minerva Capital Group, which describes itself as a fund that seeks to "improve the value of shareholders while responding to the needs of individuals and communities." neglected and boost inclusive economic growth " on your website. "Moon Express has great potential for social impact and economic performance and we are proud to be an investor," said Cortez-Young.

		The CEO of Moon Express, Bob Richards, said the funds will support the redevelopment of Launch Complex 17 at the Cape Canaveral Air Force Station in Florida, a former Delta II launch site that the company is leasing the Air Force to serve as a center for development and testing of spacecraft.

		"The $ 10 million will allow us to complete key renovations on the LC-17 and pull the trigger by ordering the long-haul flight hardware and the construction of the spacecraft for our inaugural flight, which will be synchronized to coincide with the schedules of the customers for their payload capacity, "Richards said in an email from October 1.

		Richards added that July 2020 is a "reasonable target" for that first mission. The company has not disclosed details of that mission or its launch provider. The company had booked several launches at Rocket Lab's Electron for entry into the former Google Lunar X Prize competition, but company officials said earlier this year that they could use a larger rocket for future landing missions to meet The customer's requirements.

		The financing announcement comes during an ongoing NASA competition to select suppliers to launch payloads to the lunar surface. NASA launched the final application for the Commercial Lunar Cargo Services program on September 6, with proposals for NASA on October 9. Steve Clarke, assistant associate administrator for exploration at NASA's Directorate of Science Missions, said at the AIAA Space Forum in Orlando on September 19. It expects to make an initial round of awards under the program by the end of the year.

		"We are excited about the new US space policy to return to the moon in a sustainable manner with business partners and look forward to working with NASA and other space agencies to explore the eighth continent of the Earth," Richards said in the statement.

		Funding can also alleviate doubts about the future of the company. There were industry speculations that the company was struggling, exacerbated by a legal battle with a former partner, Intuitive Machines, which led to a verdict of $ 4.1 million against Moon Express earlier this year. That verdict is frozen pending a decision by the presiding judge on a motion for a mistrial, Richards said.



	This story was provided by SpaceNews, dedicated to cover all aspects of the space industry.



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