Astroscale shares surge after winning multi-million dollar contract

Japanese space company Astroscale saw its shares rise as much as 19 percent after announcing a major contract with Japan’s space agency JAXA. The five-year agreement, worth 12 billion yen (more than 74 million euros), includes removing space debris from Earth’s orbit.

Astroscale’s Japanese unit will sign the contract with the Japan Aerospace Exploration Agency on Tuesday, marking a major milestone for the company. The deal focuses on removing the upper stage of JAXA’s H-IIA rocket, which has been in orbit about 600 kilometers above Earth since its launch in 2009.

That rocket stage disintegrated in space, sending more than 700 pieces of debris flying, increasing the risk of collision.

Astroscale will develop a new spacecraft

As part of the contract, Astroscale will develop a new spacecraft called ADRAS-J2. This spacecraft will be equipped with robotic arm technologies designed to remove space debris by March 2029. Developing this technology is critical to addressing the growing risk of space missions being disrupted by debris.

The number of satellites in orbit has increased dramatically, increasing the risk of space debris threatening future missions. Astroscale shares are likely to continue rising as the company works to make good on its promise to clear space debris.

Key points

• Astroscale has signed a contract worth over €74 million with the Japan Aerospace Exploration Agency.
• Astroscale will develop a new spacecraft called ADRAS-J2.
• The spacecraft will be equipped with robotic arm technologies.

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