A fresh space tycoon has emerged who isn’t interested in launching rockets. His name is Jed McCaleb, a US software developer who amassed his wealth through blockchain development and cryptocurrency. Recently, McCaleb acquired a small space firm named Launcher and has displayed a genuine commitment to constructing a space station in low-Earth orbit through his space habitation company, Vast.
Vast publicly announced its space station plan last fall, featuring artificial gravity, which sets it apart from other space agencies, including NASA. Artificial gravity is essential for long-term human habitation due to the harmful effects of microgravity experienced by astronauts on the International Space Station. Vast’s success in this venture is supported by its three technical advisers, major players in SpaceX’s success, namely Hans Koenigsmann, Will Heltsley, and Yang Li. However, Vast has kept its plans under wraps until now.
McCaleb’s fortune, estimated at $2.5 billion, is likely to be invested in Vast Space as it works to create space stations. McCaleb is not interested in launching rockets and believes that a new generation of space companies should take advantage of commercial launch options. Vast’s recent acquisition of Launcher, a space startup in Los Angeles that is developing a small rocket engine and an orbital tug named Orbiter, demonstrates McCaleb’s determination. The company aims to launch its SN2 mission this summer following its SN1 mission’s failure in January. McCaleb was impressed with the Launcher team and their work, which aligns with Vast’s space station development.
As part of the acquisition, Launcher’s 80 employees joined Vast’s 40 staffers. However, McCaleb is not yet prepared to discuss timelines or Vast’s space station design. The company is still in the engineering phase and conducting trade studies, which will influence the final product. Still, McCaleb believes that artificial gravity is critical for healthy long-term human habitation in space.
Vast intends to compete with Axiom Space, Blue Origin, Nanoracks, and Northrop Grumman for NASA funding in low-Earth orbit as it continues to develop commercial space stations. Vast has an advantage in the competition as a station with artificial gravity may appeal to NASA, and McCaleb is willing to commit some of his fortune to the concept. McCaleb’s investment could set Vast apart from the other ventures, which may need to seek funds from other investors. Launcher’s merger with Vast was a welcome development for Launcher founder Max Haot, who no longer needs to focus on fundraising and can instead focus on building.
