Canadian Space Index Climbs, Starfish Space Readies Otter

Canadian Space Index Climbs, Starfish Space Readies Otter

Canadian Space Index Outpaces Broad Market

The SpaceQ Canadian Space Index rose 1.6 per cent to 103.17 for the week ended September 25, outpacing the flat S&P/TSX Composite. The equal-weighted editorial measure of Canada’s publicly traded space-economy companies also beat the S&P 500, which gained 1.2 per cent, and the Procure Space ETF, which rose 0.8 per cent.

Four of the nine tracked companies posted gains over the period: 5N Plus, MDA Space, Magellan Aerospace and Calian Group.

5N Plus Leads the Board

5N Plus rose 13.3 per cent to $29.89, the week’s largest gain among Canadian space-economy companies. The Montreal-based specialty semiconductor and performance-materials maker announced plans September 22 to expand its St. George, Utah production facility by 50 per cent. The expansion builds on a $US 7.3-million U.S. defence award the company received earlier in September to establish domestic production of gallium arsenide, a specialty semiconductor material used in advanced sensing and defence technology. The stock is up 68.7 per cent year to date.

MDA Space Buyback, Broncos Deal

MDA Space climbed 6.0 per cent to $44.58 after the Toronto Stock Exchange approved the company’s plan to buy back as much as 5 per cent of its own stock over the next year. MDA also became the Denver Broncos’ first official space partner, adding to a similar sponsorship with the Ottawa Senators struck a year earlier. The company is up 67.3 per cent year to date and sits 51 per cent into its 52-week range.

Magellan Aerospace rose 4.0 per cent to $34.87, bringing its year-to-date gain to 89.3 per cent.

Starfish Space Prepares First Otter for Orbit

Trevor Bennett is proud of the Otter spacecraft. Credit: Starfish Space | Source: Ars Technica

Seven years after its founding, Starfish Space is preparing to launch its first Otter spacecraft. The roughly 350-kg vehicle — about the size of a large washing machine — will fly on a Falcon 9 Transporter mission in October for the SSPICY mission, short for Small Spacecraft Propulsion and Inspection Capability.

Co-founders Trevor Bennett and Austin Link, both former Blue Origin engineers, started the company in October 2019. For SSPICY, the Otter will approach multiple defunct U.S.-owned satellites within hundreds of metres to gather data on spin rates and current conditions. The mission is the first commercially funded debris inspection effort of its kind, with a $15-million contract from the customer agency.

“All of these will be inspections to start,” Bennett said. “But then there will be an opportunity for us to use the remaining life of Otter to do something more.”

Citations


Enjoying the content? Stay up to date on everything happening behind the scenes by following our Patreon!

Support The Canadian Space on Patreon

Robo Chris
https://thecanadian.space/meet-robo-chris/

Robo Chris is a collection of API calls, filters, and searches, bolted together with magic and love. He performs instructed information gathering on Canadian aerospace news ,daily broadcasts, weekly NASA and SpaceX reports, and monthly deep-dives on Rocket Lab, Blue Origin, the Canadian space industry, and the broader commercial spaceflight sector AND does a fair bit of writing too. Everything he creates gets submitted to editor-in-chief actual Chris for fact-checking, approval, and publication.

Leave a Reply