Vast Space has scored $500 million in funding and a new board member.
The Long Beach-based aerospace company, known for developing artificial gravity space stations, announced March 5 that it has raised the fund to further its goals, including creating low-Earth orbit space stations, building habitats on the moon and Mars, and fostering national defense partnerships. Balerion Space Ventures adviser A.C. Charania – who formerly served as chief technologist for NASA – will join the board of directors as part of the transaction.
‘Market’s strong conviction’
“This investment underscores the market’s strong conviction in both our strategy and our engineering,” said Max Haot, Vast chief executive, in a statement. “The low-Earth orbit economy is at a pivotal inflection point, poised for rapid growth. Vast’s Haven stations are engineered to deliver safe, cost-effective access to microgravity research and in-space manufacturing, empowering government and commercial partners to unlock the full commercial promise of this next era for space.”
Led by Balerion, the funding round featured In-Q-Tel, Inc., Qatar Investment Authority, Mitsui & Co., Mitsubishi UFJ Financial Group, Nikon Corp., Stellar Ventures, Space Capital, Earthrise Ventures and Vast founder Jed McCaleb. Vast is planning a launch of the world’s first commercial space station, Haven-1, in 2027, and has in January expanded into its largest facility to date in Long Beach with more than 1,000 employees.
Long-term, the company hopes to ultimately replace the International Space Station, which is scheduled to be decomissioned in 2030 after 32 years of operation.
