According to the official official account of Galaxy Power,In September 2023, Beijing Galaxy Power Aerospace Technology Co., Ltd. (hereinafter referred to as Galaxy Power Aerospace) completed C and C+ rounds of financing totaling 1.1 billion yuan.Galaxy Power Aerospace is the leading company in the field of domestic commercial launch vehicles. It has created many industry milestones such as the first domestic private rocket to achieve mass production and high-density launches, the first sea launch, the first 9-game winning streak, and the first to send commercial networking satellites into a 500km sun-synchronous orbit, an 800km inclined orbit, and a 500km dawn and dusk orbit.
This round of financing will be used for the research and development of Pallas-1 reusable liquid launch vehicle technology, and the construction of related production, testing and launch facilities.
Facing the demand for large-scale and rapid networking of low-orbit constellations, Galaxy Power Aerospace will continue to increase its research and development efforts and build a rocket product system consisting of the low-cost, highly reliable Pallas 1 medium and large reusable launch vehicle and the fast-response, high-density launch Ceres 1 series of light launch vehicles to fully cover market demand.
Pallas-1 is a medium-to-large reusable liquid oxygen/kerosene launch vehicle, mainly catering to market needs such as large-scale constellation networking and large-scale satellite launches. The basic rocket has a carrying capacity of 5t, and the CBC bundled configuration has a carrying capacity of up to 14t.
At present, Galaxy Power has made major breakthroughs in the verification of liquid rocket vertical recovery guidance and control technology, and has completed multiple test runs of the CQ-50 liquid oxygen/kerosene engine.
The Pallas-1 liquid launch vehicle has also completed a number of large-scale ground tests.It is planned to officially implement its first flight into orbit in 2024.