Maritime Launch Services Signs LOI with South Korea's INNOSPACE to Explore Launch Operations at Spaceport Nova Scotia
Cboe CA: MAXQ | OTCQB: MAXQF
Overview
Maritime Launch Services Ltd. (Cboe CA: MAXQ | OTCQB: MAXQF), a Canada-based launch services company headquartered in Halifax, Nova Scotia, and INNOSPACE (KS:462350), a South Korean satellite launch service provider, announced today that they have entered into a non-binding Letter of Intent ("LOI") to explore the potential hosting of INNOSPACE's HANBIT launch system at Spaceport Nova Scotia, Canada's first commercial orbital launch facility.
The LOI establishes a strategic framework for both parties to assess the technical, regulatory, and commercial feasibility of operating INNOSPACE's HANBIT launch vehicle from Spaceport Nova Scotia. The agreement is effective through December 31, 2026, unless superseded by a definitive agreement.
Key Highlights
- Maritime Launch and INNOSPACE have signed a non-binding LOI to explore hosting INNOSPACE's HANBIT launch vehicle at Spaceport Nova Scotia
- The LOI creates a framework to evaluate technical, regulatory, and commercial feasibility of North American launch operations for INNOSPACE
- Spaceport Nova Scotia is being developed as a full-service, dual-use responsive spaceport with licensed site launch infrastructure, range coordination, safety oversight, and scalable multi-pad capability
- INNOSPACE has existing launch site agreements in Brazil, Australia, and Europe, making North America the next frontier in its global expansion
- North America represents a key market where global small satellite launch demand is concentrated, according to the company
Strategic Context
For Maritime Launch Services, the LOI represents continued progress in positioning Spaceport Nova Scotia as a leading commercial orbital launch site in North America. Stephen Matier, President and CEO of Maritime Launch Services, stated that the LOI reflects growing international demand and global interest in Nova Scotia as an emerging orbital launch location. He noted that the company looks forward to working with INNOSPACE to evaluate how Nova Scotia's strategic position on the Eastern Atlantic rim of North America can support their launch program.
For INNOSPACE, expanding into North America would further enhance geographic diversification and strengthen the company's ability to serve international satellite customers. Soojong Kim, CEO of INNOSPACE, stated that the collaboration with Maritime Launch aims to gradually establish HANBIT's operational base in North America while strengthening commercial launch competitiveness. Kim added that with HANBIT's North American operational base, the company hopes to prioritize commercial launch services for Canadian government-developed satellites and private-sector customers.
What to Watch Next
- Feasibility assessments and further negotiations between the parties leading toward a possible definitive agreement
- The LOI is effective through December 31, 2026, providing a defined timeline for evaluation
- Continued progress on Spaceport Nova Scotia's infrastructure development and additional launch vehicle partner announcements
- INNOSPACE's broader global expansion efforts across North America, Brazil, Australia, and Europe
About Maritime Launch Services
Maritime Launch Services is a Canadian-owned commercial space company based in Nova Scotia. The company is developing Spaceport Nova Scotia, a launch site near Canso, Nova Scotia, that will provide satellite delivery services to clients in support of the growing commercial space transportation industry over a wide range of inclinations from a single site. Spaceport Nova Scotia is Canada's first commercial orbital launch complex. For more information, visit www.maritimelaunch.com.
About INNOSPACE
INNOSPACE is a South Korean space platform provider specializing in satellite launcher manufacturing and orbital launch services. Founded in 2017, the company is developing hybrid rocket-powered small satellite launchers (HANBIT) to provide low-latency, low-cost, and reliable launch services in the rapidly expanding small satellite market. In March 2023, INNOSPACE successfully launched its test launch vehicle "HANBIT-TLV" to verify the flight performance of the first stage 150 kN thrust hybrid rocket engine from the Alcantara Space Center in Brazil. INNOSPACE has offices in South Korea, Brazil, and France and is expanding global business opportunities in the space industry. To learn more, visit https://www.innospc.com.
ArcStone Financial Pulse Team
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