Private space launch corporations INNOSPACE said on the 27th it signed a memorandum of understanding (MOU) with RSAT Space, an aerospace and defense technology corporations headquartered in Montreal, Canada, to cooperate on satellite launch services and space systems.
INNOSPACE is pursuing a commercial launch services business based on the development of the "Hanbit (HANBIT)" launcher aimed at small satellite launches and its launch operations capabilities. RSAT is a corporations with project experience in the aerospace and defense fields, including space system integration, launch mission support, and related infrastructure construction.
Under the agreement, the two sides agreed to jointly review cooperation opportunities in North America, including Canada, and in global markets agreed upon by both parties. In particular, they will examine the potential to participate in Canadian government and institutional sector projects and plan to discuss a business model that links satellite launch services with space system technologies.
The two corporations also plan to review cooperation possibilities in launch services, mission support, and space systems based on their respective technologies and business experience. Joint commercialization plans that can meet demand from the government, private sector, and defense industry are also on the table.
The MOU follows a nonbinding letter of intent (LOI) that INNOSPACE signed with Maritime Launch Services (MLS) in Canada on Mar. for securing a launch site hub. INNOSPACE envisions establishing a system that can respond to repeated launch demand for satellites in the region based on launch hubs in Canada and local partnerships.
Kim Su-jong, CEO of INNOSPACE, said, "Through this cooperation, we have laid the groundwork to make the launch services business more concrete in Canada and the North American market and to respond to local demand," adding, "By working with RSAT, we will strengthen partnerships with the local industry and build a sustainable business structure."
Gurvinder Chohan, CEO of RSAT, said, "This cooperation is intended to expand opportunities for rapid and flexible launch services and to contribute to the growth of the space ecosystem through international cooperation," and added, "Together with INNOSPACE, we will seek new business opportunities in satellite launch services and space systems."