Skip to main content

Chinese startup OneSpace launched rocket for first commercial service

Chinese startup OneSpace on Thursday launched a rocket at a launch center in northwest China. Chongqing Liangjiang Star, 9m high, 7,200kg weight, maximum height 38,742 kilometers and speed of more than 5.7 times the speed of sound, launched at 7:33 am developed by OneSpace as China's first privately held company based in Beijing on a base manufacturing in Chongqing.

Shu Chang, founder and CEO of OneSpace, said the rocket is powered by solid fuel engines to run for about 5 minutes or 273 kilometers and the control system can be customized to meet customer demand. The rocket is also equipped with wireless communication devices and cheap energy sources that allow the rocket system design to be simplified.

Tinuku Chinese startup OneSpace launched rocket for first commercial service

"This is the first commercial rocket developed by our company," Chang said.

The rocket was launched for the Shenyang Aircraft Design Institute under the Aviation Industry Corporation of China, Ltd. In 2014, China issued a series of guidelines that allow private capital to enter into several key areas including commercial aerospace exploration.

OneSpace was founded in August 2015 as China's first private company with a license to develop a rocket carrier. The company has two rocket series is OS-X and OS-M for various purposes including aerospace service for scientific research and launching small satellite.

"Our focus is on the small satellite market, the more efficient and cheaper the commercial rocket we watch for the huge potential," Shu said.

Comments

Popular posts

Norwegian Coastal Administration prepare Stad Ship Tunnel construction to cut shipping lanes Stad peninsula

Tinuku ~ Norwegian Coastal Administration has begun Stad Ship Tunnel construction as the world's first ship tunnel to navigation bypass at Norway windy sea. A design made 1,700 meters long tunnel through the hills on the Stad peninsula which allows the ship to escape from one of the most dangerous region in the world.

PayPal acquired Sweden's iZettle.com for $2.2 billion

PayPal Holdings Inc. said on Thursday it had agreed to acquire Sweden's iZettle.com for US$2.2 billion. Startup headquartered in Stockholm is one of the most renowned financial technology companies in Europe where the deal will allow PayPal to expand the market globally and will mark the largest acquisitions ever made by a company based in San Jose, California.

iZettle offers a mini credit card device for small businesses that can turn smartphones and tablets into payment registers. The company has been present in 11 countries and offers other services for small businesses including loans. iZettle also has plans to go public.


The deal will also help PayPal provide a more comprehensive suite of services to its merchants, while PayPal that operates in the next 200 countries allows iZettle to accelerate its international expansion including the US. Similar services and major competitors in the US are Square Inc founded by Twitter CEO Jack Dorsey.

Since separating from eBay in 2015, P…

Foxconn unit to raise $4.2 billion IPO in Shanghai

Foxconn unit to collect US$4.2 billion in an IPO on the Shanghai stock exchange. Taiwan's Foxconn Industrial Internet as one of Foxconn's electronics manufacturing giant units that makes cloud services and industrial robot equipment will float 10% of total shares in an initial public offering in China on Thursday aiming to raise 27.1 billion yuan as China's biggest mainland debut for three year.

Taipei-based Foxconn, also known as Hon Hai Precision Industry Co. is the world's largest electronics contract manufacturer, a major supplier of components and assembler products by international brands including Apple and Sony. Foxconn Industrial Internet will launch 1.97 billion new shares at 13.77 yuan per share to raise 27.1 billion yuan (US$4.2 billion).


The IPO will be the largest in mainland China since 2015. Foxconn said it will use the funds raised to improve smart manufacturing, build an internet platform to connect factories, invest in cloud computing and fifth gener…