Sierra Space, Valued At $5.3 Billion, Eyes IPO To 'Accelerate the New Space Economy'

Sierra Space CEO Tom Vice told Yahoo Finance it plans to go public within the next 18 months at a valuation of $5.3 billion. Since being spun out of defense contractor Sierra Nevada Corporation in 2021, the company has 'placed its bets on building out the growing space economy, from developing rocket propulsion technology to a commercial space station with Blue Origin.' From the report: Its ambitions have fueled the development of its cargo space plane, the Dream Chaser, set to have its inaugural mission to the International Space Station (ISS) in the second half of this year. Built to land on any commercial runway, the plane will lower the barrier to entry into low-earth orbit and open up business opportunities, Vice said. 'Since the 1960s, every science experiment or human being that's come back to earth from space, even today, is still landing in a capsule in the ocean,' he said. 'We think changing and revolutionizing the way that we bring things back from space, both humans and cargo, and landing [the spacecraft] back at a commercial runway will completely accelerate the new space economy.'

'We believe that the next big breakthrough products in oncology, longevity, and industrialized components like glass will be produced in low Earth orbit,' Vice said, noting that many of those opportunities are likely to come from the development of commercial space stations to replace the decades-old ISS. Sierra Space has partnered with Blue Origin to build out the Orbital Reef, a commercially owned and operated space station, though recent reports have hinted at tension between the corporate partners. 'We're transitioning from decades of government-run space stations with just a handful of government-trained astronauts to the full commercialization of low Earth orbit,' Vice said. 'We think that's going to create, we believe, probably the most profound industrial revolution and grow that space economy well over a trillion dollars by 2040.'

Read more of this story at Slashdot.