About Galactic Energy
Galactic Energy designs, develops and commercializes commercial aerospace technology and products. It offers aerospace launch services, aerospace equipment manufacturing services, aerospace product support, and systematic solutions in various fields such as engineering, technology, safety, and system integration. It primarily sells to the aerospace industry. The company was founded in 2018 and is based in Beijing, China.
Expert Collections containing Galactic Energy
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Galactic Energy is included in 1 Expert Collection, including Aerospace & Space Tech.
Aerospace & Space Tech
These companies provide a variety of solutions, ranging from industrial drones to electrical vertical takeoff vehicles, space launch systems to satellites, and everything in between
Latest Galactic Energy News
Feb 13, 2024
Pallas-1: Galactic Energy's Falcon 9 competitor Galactic Energy's Pallas-1 rocket is named after the Greek goddess of wisdom. According to a South China Morning Post report , the rocket is expected to take off from a launch center on the southern island of Hainan. Pallas-1 could fly as soon as November, though rocket launches are often moved back as the launch date approaches. Galactic Energy does have a fairly strong track record, though. Since it was founded in 2018, it has successfully launched nine satellite missions to orbit using its solid-fuel Ceres-1 launch vehicle. However, in September last year, it experienced its first launch failure , which saw it lose the Jilin-1 Gaofen-04B satellite. The company hopes Pallas-1 will successfully take it to the next level. The 49-meter (160-foot) kerosene-liquid oxygen rocket will reportedly be able to fly up to 50 times. It will use a propulsive landing technology similar to the one developed by SpaceX for its iconic Falcon 9 landings. Seven proprietary Cangqiong engines will power Pallas-1's first stage. According to Galactic Energy, it will be capable of lifting 5 tonnes to low Earth orbit and 3 tonnes to sun-synchronous orbit. In December, Beijing-based Galactic Energy announced it had secured 1.1 billion yuan (US$153.5 million) in funding, which will go towards the development of Pallas-1 as well as launch infrastructure for the rocket. The space industry plays catch up To date, SpaceX is the only company to successfully reuse rocket parts, while another US firm, Rocket Lab, has retrieved several boosters that it aims to reuse. SpaceX's workhorse Falcon 9 rocket booster lands after sending the second stage and its payload on its way. The company has flown reused boosters close to 250 times, meaning the rest of the space industry is lagging far behind. Moreover, with its Starship launch vehicle , SpaceX aims to develop a fully reusable rocket capable of drastically cutting the costs of successive launches – making human flight to Mars economically feasible. In China, several startups are developing reusable rocket technologies. Both iSpace and LandSpace Technology have conducted tests, and they hope to launch their rockets and perform first-stage recoveries as soon as 2025. Another Chinese startup, Space Pioneer, became the first in the world to reach orbit on the first attempt last year. It also aims to launch its partially reusable Tianlong-3 rocket next year. SpaceX raised the bar substantially with its Falcon 9 and Falcon Heavy launches, meaning other organizations have faced substantial criticism and are playing catch up. NASA's SLS rocket program, for example, has faced criticism for exceeding its initial budget estimate by over $10 billion. In a 2022 interview with IE , former NASA deputy administrator Lori Garver said SLS did not constitute progress. Garver highlighted the fact that she had fought for a rocket program centered around reusability. Meanwhile, the European Space Agency recently published a call for reusable rocket booster concepts. Stéphane Israël, the CEO of the continent's main launch service provider, Arianespace, recently stated he believes Europe won't have reusable rockets until the 2030s.
Galactic Energy Frequently Asked Questions (FAQ)
When was Galactic Energy founded?
Galactic Energy was founded in 2018.
Where is Galactic Energy's headquarters?
Galactic Energy's headquarters is located at Block B, 4th Floor and 9th Floor, Zhonghangji Plaza, Yizhuang, Beijing.
What is Galactic Energy's latest funding round?
Galactic Energy's latest funding round is Series C.
How much did Galactic Energy raise?
Galactic Energy raised a total of $409.71M.
Who are the investors of Galactic Energy?
Investors of Galactic Energy include Founder Hesheng Investment, Bengbu Zhongcheng, Jintuo Capital, Langfang Linkong, Huaqiang Capital and 35 more.
Who are Galactic Energy's competitors?
Competitors of Galactic Energy include CAS Space and 4 more.
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