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Innospace is working to develop a ground test version of the 3-ton engine by the third quarter of 2023.
Innospace raised 20 billion won (roughly $15,000,000) in December in a Series B Bridge round led by Korea Investment Partners.
Innospace is working to sign a deal with the Norwegian spaceport within 2023.
Innospace launched the HANBIT-TLV suborbital rocket from Brazil’s Alcântara Space Center on 2023-03-19.
Innospace signed a five-year deal last year to use Brazil’s Alcântara Space Center for launches.
The HANBIT-TLV was powered by Innospace’s self-developed 15-ton-thrust hybrid rocket engine that uses liquid oxygen and paraffin-based propellants.
Innospace has raised a total of 55.2 billion won ($42,100,000) since 2019.
Innospace is negotiating with Norway’s Andøya Spaceport and is pursuing another launch site in Asia to serve regional customers.
INNOSPACE delayed the HANBIT-TLV launch from 2022-12-19 to 2022-12-20 and then delayed it again due to a technical issue.
INNOSPACE decided at 4 a.m. to delay the HANBIT-TLV launch due to a technical error and transported the rocket back to the assembly center from the launch pad.
The HANBIT-TLV test vehicle is a 16.3-meter single-stage rocket designed to verify the performance of a 15-ton-thrust rocket engine developed by INNOSPACE.
Lynk Global, Inc. won the first-prize Mercedes-Benz car2space Challenge at INNOspace Masters in 2022.
INNOSPACE signed an agreement on 2022-05-03 with the Brazilian Department of Aerospace Science and Technology (DCTA) to carry the SISNAV inertial navigation system as a payload onboard HANBIT-TLV.
INNOSPACE installed a portable Coalesced Launch System (CLS) at its Cheongju plant and performed verification of interface integrity and systems compatibility with the CLS and HANBIT-TLV on 2022-05-27.
The HANBIT-TLV test launch was scheduled to take place in December 2022 from the Alcântara Launch Center in Brazil to verify the flight performance of a 15-ton-thrust single-stage hybrid engine developed by INNOSPACE.
Innospace raised $6,600,000 in a Series A round in January 2021.
Innospace raised $1,200,000 in a seed round that closed in October 2019.
Innospace raised $19,700,000 in a Series B round in July 2021.
Innospace is launching the Brazilian military payload in exchange for use of the Alcântara Space Center, which is operated by the Brazilian Air Force.
Innospace has raised $27,760,000 (35.2 billion won) through three financing rounds.