If the plan ultimately results in a launch, it would allow Firefly to market itself more aggressively to Asian satellite companies.
Firefly Aerospace, which went public earlier this month, is exploring launching its Alpha rocket from Japan in a bid to expand its service globally, according to a Japanese company that operates a spaceport on the country’s Hokkaido island.
The plan could make Japan the second offshore launch site, and first in Asia, for Firefly, according to a Reuters report. Texas-based Firefly is seen as a challenger to market leader SpaceX, owned by billionaire technologist Elon Musk.
The firm raised $868.3 million in its Nasdaq initial public offering (IPO), and an over 50% rally on the opening day lifted its market cap to nearly $10 billion.
Space Cotan, operator of the Hokkaido Spaceport, located on the Northernmost island of Japan, announced the signing of a preliminary agreement with Firefly to study the feasibility of launching the small-lift rocket Alpha from there.
The potential launch “would allow us to serve the larger satellite industry in Asia and add resiliency for U.S. allies with a proven orbital launch vehicle,” Adam Oakes, Firefly’s vice president of launch, said in a statement published on Space Cotan’s website.
The plan would require a space technology safeguards agreement (TSA) between Washington and Tokyo that would allow American rocket launches in Japan, Space Cotan spokesperson Ryota Ito told Reuters.
A U.S.-Sweden TSA agreement signed in June cleared the path for Firefly’s launches from the Arctic, the company’s other overseas launch location. Four of Firefly’s six Alpha flights since 2021 have failed, the most recent one being in April.
On Stocktwits, the retail sentiment for Firefly was ‘bearish,’ as of early Monday. FLY stock is up 5.2% from its IPO price of $45.
For updates and corrections, email newsroom[at]stocktwits[dot]com.<