RCS - Seraphim Space I.T. - SpaceTech Sector Newsletter – January 2025

Seraphim Space Investment TrustAnnouncement

03/02/2025 07:15

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RNS Number : 5505V  Seraphim Space Investment Trust PLC  03 February 2025

SERAPHIM SPACE INVESTMENT TRUST PLC

(the "Company" or "SSIT")

SpaceTech Sector Newsletter - January 2025

Seraphim Space Investment Trust plc (LSE: SSIT), the world's first listed
SpaceTech investment company, publishes its monthly RNS Reach newsletter to
provide updates, based on publicly available information, on the Company's
portfolio investments, its Manager (Seraphim Space Manager LLP (the "Manager"
or "Seraphim Space")) and the wider SpaceTech market. The following newsletter
covers January 2025.

Portfolio Update

SpaceX launches 131 payloads, including satellites from four SSIT portfolio
companies

On 14 January 2025, SpaceX's Transporter-12 mission made waves by deploying
131 payloads into space, including 15 payloads from SSIT's portfolio. [Read
more]
(https://spacenews.com/spacex-launches-131-payloads-on-transporter-12-rideshare-mission/)

·           Pixxel launched three hyperspectral satellites,
providing the highest-resolution commercial hyperspectral imaging capabilities
in space.

·           ICEYE expanded its SAR (Synthetic-aperture radar)
satellite constellation with four new satellites, strengthening its
capabilities in disaster response and environmental monitoring.

·           Spire added six Lemur satellites, enhancing IoT
connectivity, weather forecasting and marine analytics worldwide.

·           D-Orbit launched two ION Satellite Carriers, showcasing
advanced in-orbit transportation and deployment solutions. D-Orbit launched
its first ION Satellite Carrier in September 2020. With this latest launch,
the company will have transported to space almost 180 payloads in aggregate.

Pixxel achieves a milestone with India's first private satellite constellation

Pixxel, a pioneering Indian startup, successfully launched its inaugural trio
of high-resolution Firefly satellites. This achievement represents a
significant milestone in India's private space sector and highlights Pixxel's
commitment to transforming industries such as agriculture, mining,
environmental monitoring and defence through advanced hyperspectral imaging.
The satellite imagery market is expected to reach $19bn by 2029, with
hyperspectral imaging poised to capture between $500m and $1bn of that market.
Awais Ahmed, co-founder and CEO of Pixxel, remarked "This is a defining moment
for Pixxel and a monumental step towards leveraging space technology to
address global challenges". [Read more]
(https://www.reuters.com/technology/space/google-backed-pixxel-successfully-launches-indias-first-private-satellite-2025-01-14/)

AST SpaceMobile raises $400m to accelerate direct-to-smartphone constellation

AST SpaceMobile, a leader in satellite connectivity, secured $400m through
convertible debt to scale up production of its Block 2 BlueBird satellites.
With the addition of AT&T, Verizon and Google as shareholders, AST
SpaceMobile is poised to significantly expand its direct-to-smartphone
services, providing global mobile broadband access, especially in remote
regions. This investment accelerates the deployment of the company's
innovative satellite constellation, pushing the boundaries of connectivity.
[Read more]
(https://spacenews.com/ast-spacemobile-raises-400-million-to-accelerate-direct-to-smartphone-plans/)

Astroscale Japan selected to lead in-space refuelling technologies

Astroscale was chosen to develop cutting-edge in-space refuelling technologies
under Japan's K Program (Key and Advanced Technology R&D through Cross
Community Collaboration Program), a five-year initiative to promote advanced
space sustainability. This project will leverage Astroscale's expertise in
rendezvous and proximity operations technologies to enable chemical propellant
refuelling in low Earth orbit and beyond. The technology will ensure that
satellites remain operational longer and contribute to the growing demand for
space services. [Read more]
(https://astroscale.com/astroscale-japan-selected-to-develop-in-space-refueling-technologies/)

D-Orbit has partnered with Pale Blue Dot to test water thruster

Italian space logistics company D-Orbit partnered with Japanese startup Pale
Blue to test its innovative water-fuelled thruster, the Pale Blue 1U+ Water
Ion Thruster. This thruster, designed for small satellites, will help
spacecraft navigate space debris, manoeuvre during missions and safely
de-orbit once their missions conclude. This development represents a
significant advancement in environmentally sustainable space propulsion
technologies. [Read more]
(https://spacenews.com/pale-blue-to-flight-test-water-thruster-with-d-orbit/)

Voyager Space rebrands to Voyager Technologies and Starlab expands to Germany

·           Voyager Space rebranded to Voyager Technologies Inc.,
marking a key shift to solidify its leadership in national security and space
innovation. This move reflects the company's expanded capabilities across
defence, space and technology sectors. Voyager's operations are now focused on
three core areas: Defence & National Security Space Solutions and Starlab
Space Stations. [Read more]
(https://www.prnewswire.com/news-releases/voyager-technologies-ushers-in-a-new-era-of-innovation-and-leadership-in-defense-and-space-302352287.html)

·           Starlab Space, the joint venture led by Voyager, has
opened a new subsidiary in Bremen, Germany, now operating as Starlab Space
GmbH. This expansion supports Europe's growing space sector and continues the
legacy of the International Space Station, fostering new research and
commercial opportunities in low Earth orbit. [Read more]
(https://starlab-space.com/press-releases/starlab-space-launches-european-subsidiary-to-boost-international-collaboration-on-its-commercial-space-station/)

SpaceTech Sector News

Space stocks soared in 2024, with big expectations for 2025

The space sector saw exceptional growth in 2024, particularly following the
November election
(https://www.cnbc.com/2024/11/15/space-stocks-rally-trump-elon-trade.html) of
President Trump. Companies like AST SpaceMobile (a SSIT portfolio company),
Rocket Lab, Intuitive Machines and Redwire experienced share price increases
of up to 400% 2024. This remarkable growth was fuelled by rising demand for
satellite connectivity and the securing of major commercial contracts. Key
factors driving the sector's momentum include lower launch costs, continuous
commercial innovation and increased government recognition of space's critical
role in national security. As space becomes more essential for both
communication and defence, the industry is poised for even greater expansion
in the years ahead. [Read more]
(https://www.cnbc.com/2025/01/21/space-stocks-surge-after-trump-inauguration.html)

Blue Origin's New Glenn rocket achieves milestone test flight

Jeff Bezos's space company, Blue Origin, achieved a significant milestone with
the successful test flight of its New Glenn rocket, a reusable spacecraft
designed for 25 flights. Although the rocket's booster missed its targeted
ocean landing, the mission demonstrated New Glenn's potential to challenge
SpaceX's dominance in the launch market. Blue Origin plans up to eight more
flights in 2025, signalling an exciting future for space exploration. [Read
more]
(https://news.sky.com/story/jeff-bezoss-blue-origin-successfully-launches-new-glenn-into-orbit-on-first-test-flight-13289997)

US Space Force forecasts $2.3bn in commercial satellite contracts

The US Space Force is set to award approximately $2.3bn in commercial
satellite contracts over the next year, with the largest opportunities in GEO
(geostationary orbit). This investment will support advancements in satellite
communications, manoeuvrability and custom-built small GEO satellites, further
propelling the US and global space industries into the future. [Read more]
(https://spacenews.com/u-s-space-force-forecasts-2-3-billion-in-commercial-satellite-services-contracts/)

Trump's vision for Space: A bold step into the stars

In his inaugural address, President Donald Trump outlined an ambitious space
agenda, declaring, "we will pursue our manifest destiny into the stars,
launching American astronauts to plant the Stars and Stripes on the planet
Mars". Trump's top priority for NASA may be confirming SpaceX astronaut Jared
Isaacman as NASA administrator. With numerous open questions about NASA's
future, including the fate of the SLS (Space Launch System) program, Mars
Sample Return, and the 2026 budget, having a leader at the helm is crucial.
[Read more] (https://payloadspace.com/trumps-first-100-days-of-space-policy/)

Apple iOS update unveils secret Starlink integration

Apple has quietly partnered with SpaceX and T-Mobile US to add support for the
Starlink satellite network in its latest iPhone software update, offering an
alternative to Apple's own satellite communication service that it has
developed in partnership with Globalstar. Sources reveal that iPhones have
been tested with Starlink's technology, and the new feature is now live,
bringing seamless satellite connectivity to iPhones in a stealthy move by the
tech giant. [Read more]
(https://www.forbes.com/sites/davidphelan/2025/01/29/apples-new-game-changer-iphone-update-brings-starlink-satellite-access/)

Media

Podcast - Industry in the Intelligent Age:

In this episode of the Generation Space Podcast, experts Brian Manning (Xona
Space Systems) and Lewis Jones (Generation Space) discuss how satellite
communications and precision GPS are transforming industries like agriculture,
autonomous vehicles and sustainable infrastructure. They also explore the
importance of balancing technological innovation with sustainability. [Listen
here]
(https://seraphim.vc/generation-space/podcast/industry-for-the-intelligent-age-with-brian-manning-co-founder-ceo-xona-and-generation-space-investment-vp-lewis-jones/)

Conferences

·           SmallSat Symposium 2025: Seraphim Space VP Lewis Jones
is speaking at the SmallSat Symposium on 4 February 2025 in Silicon Valley.
 Details  (https://smallsatshow.com/)

·           LEAP: Seraphim Space CIO James Bruegger is speaking at
LEAP on 9 February 2025 in Riyadh.  Details  (https://onegiantleap.com/)

·           DGI 2025: Seraphim Space Enterprise MD Alexander Holt
is speaking on 10 February 2025 in London.  Details 
(https://dgi.wbresearch.com/)

Find out where to meet and hear from Seraphim Space's team by following its
social media, LinkedIn (https://www.linkedin.com/company/seraphim-space/) /
Twitter (https://twitter.com/seraphim_space?lang=en) .

Sign up to receive Seraphim Space's monthly newsletter directly to your inbox.
[Sign up]
(https://seraphim.us16.list-manage.com/subscribe?u=e0d06c32336837b2b89cf44ae&id=68130aa2bb)

Neither the Company's website nor the content of any website accessible from
hyperlinks in it or in this newsletter (or any other website) is (or is deemed
to be) incorporated into, or forms (or is deemed to form) part of, this
newsletter.

- Ends -

Media Enquiries

 Seraphim Space Manager LLP (via SEC Newgate)
 Mark Boggett, CEO / James Bruegger, CIO / Rob Desborough
 SEC Newgate (Communications advisers)                     seraphim@secnewgate.co.uk (mailto:seraphim@secnewgate.co.uk)
 Emma Kane / Clotilde Gros / George Esmond                 +44 (0) 20 3757 6767
 Deutsche Numis
 Mark Hankinson / Gavin Deane /David Benda / Vicki Paine   +44 (0) 20 7545 8000
 J.P. Morgan Cazenove
 William Simmonds / Jérémie Birnbaum / Rupert Budge        +44 (0) 20 7742 4000
 Ocorian Administration (UK) Limited                       seraphimteam@ocorian.com (mailto:seraphimteam@ocorian.com)
 Lorna Zimny                                               +44 (0) 28 9078 5880

Notes to Editors

About Seraphim Space Investment Trust plc

Seraphim Space Investment Trust plc (the "Company") is the world's first
listed fund focused on SpaceTech. The Company seeks exposure predominantly to
early and growth stage private financed SpaceTech businesses that have the
potential to dominate globally and that are sector leaders with first mover
advantages in areas such as climate, communications, mobility and cyber
security.

The Company's shares are traded on the London Stock Exchange.

Further information is available at: https://investors.seraphim.vc
(https://investors.seraphim.vc) .

About Seraphim Space Manager LLP

Seraphim Space Manager LLP ("Seraphim Space" or the "Manager") is based in the
UK and manages Seraphim Space Investment Trust plc and Seraphim Space Ventures
II LP.

Further information is available at www.seraphim.vc (http://www.seraphim.vc) .

About Seraphim Space Accelerator Ltd

Seraphim Space Camp Accelerator Ltd, an affiliate of Seraphim Space Manager
LLP based in the UK, established the Seraphim Space Accelerator in 2018 and
has developed it to become the world-leading VC-led accelerator with a focus
on SpaceTech. The accelerator programme brings in-depth industry expertise to
get Seed and Pre-Series A SpaceTech companies 'investment ready' while
facilitating relationships with some of the world's leading Space corporates
and agencies.

Further information is available at www.seraphim.vc (http://www.seraphim.vc) .

About Generation Space LLC

Generation Space LLC is the US subsidiary of Seraphim Space Manager LLP and is
responsible for its US activities. Generation Space LLC is an affiliate of
Seraphim Space Camp Accelerator Ltd and is responsible for delivery of the US
Generation Space Accelerator.

Further information is available at www.generation.space
(http://www.generation.space) .

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