Russia's space agency Roscosmos has found a buyer for a troubled commercial space project known as Sea Launch, the agency's director Igor Komarov was cited by the TASS news agency as saying on Wednesday.
“I cannot tell you who the investor is, or the value of the contract, due to certain obligations. I hope that we will have something to say about it by the end of April,” Komarov said. He did, however, say that investors from the U.S., Australia, China and Europe have expressed interest in the project.
Sea Launch was founded in 1995 as a joint-venture between Russia's largest space company Energia, U.S. aerospace giant Boeing, with participation of firms in Norway and Ukraine. The concept is simple: a floating launch platform that sails to the Earth's equator to reduce launch costs.
But despite the commercial promise, Sea Launch has struggled to take flight. It filed bankruptcy in 2009, and has undergone several periods of inactivity due to technical failures. The company emerged from bankruptcy a year later with Energia taking control of 85% of the company.
But the problems continued. In 2014, the company faced procurement difficulties as relations between Russia and Ukraine collapsed in the wake of Moscow's annexation of Crimea. Sea Launch is designed to work with Zenit rockets — built in Ukraine, but some 70 percent of the components are Russian.
Roscosmos has at various times indicated it might refit the platform to support the lightest version of its new Angara rocket, but a change in ownership of the project may put these plans on hold. ?
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.