#141 | In-Orbit Servicing | Adel Haddoud, Infinite Orbits

My guest this week is Glen Martin, Co-Founder & CEO of Extraterrestrial Mining Company (XMC), discusses his company’s bold mission to mine Helium-3 on the Moon and its potential to revolutionize energy and tech on Earth.   🕰️ Timestamps:  00:00 - Introduction  01:36 - Elevator Pitch 03:42 - Understanding Helium-3 and Its Applications 11:59 - Tech Aspects of Lunar Mining 20:39 - Future Prospects and Initial Missions 23:31 - Energy Solutions for Lunar Operations 29:23 - Helium-3 Concentrations and Mining Challenges 32:09 - Lunar Data and Exploration Techniques 35:32 - Geopolitical Implications 40:33 - Transportation and Return Logistics 48:08 - Project Financing for Space Mining 51:28 - Personal Background and Career Path 56:14 Science Fiction   📍 About the Guest: Glen Martin, CEO of XMC, has over 30 years of experience in renewable energy and space infrastructure. Before founding XMC in 2023, he led companies like Hyox Inc., Infrastructure Energy, and Pod Generating Group, and co-founded ProtoStar Limited. He’s worked on projects spanning green hydrogen, solar PV, intelligent grids, and satellite systems. Early in his career, he contributed to the International Space Station at McDonnell Douglas. Glen holds a BTech in Aerospace Engineering from TMU and an MBA from USC.   🔗 Connect with Glen: 🤝 LinkedIn: https://www.linkedin.com/in/glen-martin-space-heavy-industrialist/   🔗 Follow us: 🏠Website : https://www.e2mc.space/ 🤝🏻LinkedIn : https://www.linkedin.com/company/space-business-podcast/ 🌐Socials: https://linktr.ee/spacebusinesspodcast     🔗 Follow Raphael: 🔷LinkedIn -  https://www.linkedin.com/in/raphaelroettgen 🌐Instagram - https://instagram.com/raphael_space/  ◇  Twitter/X - https://x.com/RaphaelE2MC   To Learn more about Space & the Space Economy: "To Infinity" – Raphael’s Revised Introduction to the Space Economy This book provides an insightful look into the space economy, its current trends, and future opportunities. 📚 https://a.co/d/6jIQ2LO  edX/EPFL's Space Economy MOOC This course offers a detailed understanding of the New Space Economy, covering key concepts and market developments. 🎓 https://www.edx.org/course/new-space- Space Business Newsletter 📬 https://spacebusiness.substack.com/

This episode kicks off a new series on in-space R&D and manufacturing, exploring its potential (e.g. for sectors like pharma and semiconductors), its current status, and its challenges, among other topics. At the end of this episode, Raphael highlights the recent launch of the Orbital Edge accelerator to support startups in this emerging sector.   Orbital Edge Accelerator: https://orbitaledge.techconnect.org/   🕰️ Timestamps:  00:00 - Introduction  02:23 - Why research and manufacture in Space? 10:28 - How to research and manufacture in Space, in practice? 22:35 - How can be build a thriving in-space R&D and manufacturing sector? 28:45 - Conclusion    🔗 Follow us: 🤝🏻LinkedIn : https://www.linkedin.com/company/space-business-podcast/ 🌐Socials: https://linktr.ee/spacebusinesspodcast     🔗 Follow Raphael: 🔷LinkedIn -  https://www.linkedin.com/in/raphaelroettgen 🌐Instagram - https://instagram.com/raphael_space/  ◇  Twitter/X - https://x.com/RaphaelE2MC   To Learn more about Space & the Space Economy: "To Infinity" – Raphael’s Revised Introduction to the Space Economy This book provides an insightful look into the space economy, its current trends, and future opportunities. 📚 https://a.co/d/6jIQ2LO  edX/EPFL's Space Economy MOOC This course offers a detailed understanding of the New Space Economy, covering key concepts and market developments. 🎓https://www.edx.org/course/new-space-economy Space Business Newsletter 📬 https://spacebusiness.substack.com/

My guest this week is Adel Haddoud, Founder & CEO of Infinite Orbits, a French in-orbit servicing company. We discuss their technology, business model, and vision, as well as the broader market for satellite servicing and space sustainability. Enjoy! 🕰️ Timestamps:  00:00 - Introduction 01:04 - Elevator Pitch  03:30 - Origin Story 04:51 - Technological Innovations 07:35 - Core of the Company 09:15 - Computing Hardware in Space 12:47 - Market Segments and Competition 18:38 - Life Extension in Space 23:49 - Unit Economics  26:13 - Life Extension and Docking 30:22 - OrbitGuard and Defense  31:06 - European vs. U.S. Space Market Dynamics 33:10 - Technological Advances and Future Prospects 42:06 - The Future of Space Servicing 45:00 - Interesting Developments in the Industry 45:55 - Sci-Fi Favorites   📍 About the Guest: Adel Haddoud is the Founder & CEO of Infinite Orbits, a Toulouse-based space company pioneering in-orbit services like satellite inspection and life extension. In 2024, the company raised €12 million from private and public investors, following the successful 2023 test of its OrbitGuard1 nanosatellite—the world’s first geostationary nanosatellite. Founded in 2017, Infinite Orbits has developed an innovative space rendezvous solution using in-orbit image recognition. Adel previously had a career as an entrepreneur and manager, including a stint in Silicon Valley. 🔗 Connect with Adel: 🤝 LinkedIn: https://www.linkedin.com/in/adelhaddoud/   🔗 Follow us: 🏠Website : https://www.e2mc.space/ 🤝🏻LinkedIn : https://www.linkedin.com/company/space-business-podcast/ 🌐Socials: https://linktr.ee/spacebusinesspodcast     🔗 Follow Raphael: 🔷LinkedIn -  https://www.linkedin.com/in/raphaelroettgen 🌐Instagram - https://instagram.com/raphael_space/  ◇  Twitter/X - https://x.com/RaphaelE2MC   To Learn more about Space & the Space Economy: "To Infinity" – Raphael’s Revised Introduction to the Space Economy This book provides an insightful look into the space economy, its current trends, and future opportunities. 📚 https://a.co/d/6jIQ2LO  edX/EPFL's Space Economy MOOC This course offers a detailed understanding of the New Space Economy, covering key concepts and market developments. 🎓 https://www.edx.org/course/new-space- Space Business Newsletter 📬 https://spacebusiness.substack.com/  

Asteroid mining is making a comeback. It may sound futuristic, but some startups are betting on a viable and economic path to making it a reality and investors are taking notice. One of those companies is Karman+, and this week, I’m joined by its Co-Founder, Daynan Crull. Enjoy!   🕰️ Timestamps:  00:00 - Introduction 01:13 - Elevator Pitch 04:18 - Vision and Challenges of Asteroid Mining 06:07 - Recruitment and Team Building 07:44 - Origin Story and Motivation 12:35 - Market Timing and Investor Sentiment 19:49 - Technological and Logistical Challenges 26:12 - Geopolitical and Legal Considerations 32:11 - Mission Timeline and Milestones 36:53 - Economic Viability of Asteroid Mining 41:16 - Future Missions and Scaling Operations 45:19 - Interesting Developments in the Industry 46:15 - Sci-Fi Favorites   📍 About the Guest: Daynan Crull is the Co-Founder and Mission Architect at Karman+, leading efforts to mine Near-Earth Asteroids for sustainable energy and resources. Previously, he was a Senior Data Scientist at New Light Technologies and the World Bank. From 2018 to 2020, he held data science roles at GeoPhy. Before transitioning to tech, he served in strategy and policy roles at the NYC Mayor’s Office and the Department of Information Technology & Telecommunications. Earlier, he worked at Blue State Digital and the NYC Council. Crull holds an M.S. in Urban Informatics from NYU Tandon and a B.A. from DePauw University. 🔗 Connect with Daynan: 🤝 LinkedIn: https://www.linkedin.com/in/daynan/   🔗 Follow us: 🏠Website : https://www.e2mc.space/ 🤝🏻LinkedIn : https://www.linkedin.com/company/space-business-podcast/ 🌐Socials: https://linktr.ee/spacebusinesspodcast     🔗 Follow Raphael: 🔷LinkedIn -  https://www.linkedin.com/in/raphaelroettgen 🌐Instagram - https://instagram.com/raphael_space/  ◇  Twitter/X - https://x.com/RaphaelE2MC   To Learn more about Space & the Space Economy: "To Infinity" – Raphael’s Revised Introduction to the Space Economy This book provides an insightful look into the space economy, its current trends, and future opportunities. 📚 https://a.co/d/6jIQ2LO  edX/EPFL's Space Economy MOOC This course offers a detailed understanding of the New Space Economy, covering key concepts and market developments. 🎓 https://www.edx.org/course/new-space- Space Business Newsletter 📬 https://spacebusiness.substack.com/  

Space to Grow is a new book on the space economy. Its authors, Matt Weinzierl, a professor at Harvard Business School, and Brendan Rosseau, also formerly of Harvard and now in strategy at Blue Origin, are my guests this week. Enjoy!   Space to Grow: Unlocking the Final Economic Frontier (Harvard Business Publishing, 2025) https://www.amazon.com/Space-Grow-Unlocking-Economic-Frontier/dp/1647827167#:~:text=Book%20overview&text=An%20exploration%20of%20the%20dynamic,a%20commercial%20revolution%20right%20now.   🕰️ Timestamps: 00:00 - Intro 05:16 - Building a Thriving Space Economy 09:15 - Government's Role in the Space Economy 11:07 - Regulatory and Economic Environment  14:33 - Economies beyond Regulation 19:02 - Government Dependency in Space Markets 25:32 - Historical Parallels and Lessons for Space 30:12 - Defining a Thriving Space Economy 33:02 - Challenges and Opportunities in Space Manufacturing 35:29 - Role of Government and Private Sector in Space 41:18 - Financing the Space Economy 45:55 - Factors limiting large-scale funding in Space 53:19 - What’s next in Space? 54:45 - Sci-Fi Favorites   📍 About the Guests: Matthew C. Weinzierl  Matthew C. Weinzierl is the author of Space to Grow: Unlocking the Final Economic Frontier (Harvard Business Publishing, 2025) an American academic. He is a Professor of Business Administration at the Harvard Business School. He has published research on taxation. He worked at McKinsey & Company after he attended Harvard University. Weinzierl earned a PhD in economics from Harvard University in 2008. Brendan Rosseau  Brendan Rosseau is the co-author of Space to Grow: Unlocking the Final Economic Frontier (Harvard Business Publishing, 2025), Strategy Manager at Blue Origin, and former Teaching Fellow at Harvard Business School. With experience in space consulting, policy, aerospace startups, and astrophysical research, they have a background in astronomy and economics. Former Associate at Booz Allen Hamilton supporting U.S. Space Force.   🔗 Connect with them on LinkedIn: 🤝Matthew Weinzierl  - https://www.linkedin.com/in/matthew-weinzierl-67312846/ 🤝Brendan Rosseau - https://www.linkedin.com/in/brendan-rosseau/   🔗 Follow us: 🏠Website : https://www.e2mc.space/ 🤝🏻LinkedIn : https://www.linkedin.com/company/space-business-podcast/ 🌐Socials: https://linktr.ee/spacebusinesspodcast     🔗 Follow Raphael: 🔷LinkedIn -  https://www.linkedin.com/in/raphaelrottgen/ 🌐Instagram - https://instagram.com/raphael_space/  ◇ Twitter/X - https://x.com/RaphaelE2MC   To Learn more about Space & the Space Economy: "To Infinity" – Raphael’s Revised Introduction to the Space Economy This book provides an insightful look into the space economy, its current trends, and future opportunities. 📚 https://a.co/d/6jIQ2LO  edX/EPFL's Space Economy MOOC This course offers a detailed understanding of the New Space Economy, covering key concepts and market developments. 🎓 https://www.edx.org/course/new-space- Space Business Newsletter 📬 https://spacebusiness.substack.com/

My guest this week is Stan Maximin, Founder & Executive Chairman of Latitude, a French micro-launch company. We discuss Latitude's rocket, target customers, and vision, as well as the wider launch market in Europe and globally. Enjoy!   🕰️ Timestamps: 00:00 - Intro 01:28 - Elevator Pitch 02:57 - Starting a Launch Company 11:20 - The Product 16:44 - Competitive Edge 25:30 - Design Decisions & Market Strategy 35:09 - Current Status & Future Milestones 40:30 - Challenges of First Orbital Launch 43:37 - French and European Competition 52:32 - Global Space Market 55:16 - Quick Fire Questions  57:30 - Vision for Latitude 58:27 - What’s next for Rocket Innovation? 01:00:24 - Sci-Fi Favorites   🔗 Connect with Stan on LinkedIn: 🤝Stanislas Maximin - https://www.linkedin.com/in/stanislas-maximin/   🔗 Follow us: 🏠Website : https://www.e2mc.space/ 🤝🏻LinkedIn : https://www.linkedin.com/company/space-business-podcast/ 🌐Socials: https://linktr.ee/spacebusinesspodcast     🔗 Follow Raphael: 🔷LinkedIn -  https://www.linkedin.com/in/raphaelrottgen/ 🌐Instagram - https://instagram.com/raphael_space/  ◇  Twitter/X - https://x.com/RaphaelE2MC   To Learn more about Space & the Space Economy: "To Infinity" – Raphael’s Revised Introduction to the Space Economy This book provides an insightful look into the space economy, its current trends, and future opportunities. 📚 https://a.co/d/6jIQ2LO  edX/EPFL's Space Economy MOOC This course offers a detailed understanding of the New Space Economy, covering key concepts and market developments. 🎓 https://www.edx.org/course/new-space- Space Business Newsletter 📬 https://spacebusiness.substack.com/

Ariel Ekblaw is an MIT aero-astro engineer who founded the MIT Media Lab Space Exploration Initiative, and developed a new technique to build large-scale space structures. She now runs the Aurelia Institute, a non-for-profit dedicated to building humanity’s future in space and the Aurelia Foundry, a space-focused VC fund. We talk about all of these things in this episode. Enjoy!   🕰️ Timestamps:  00:00 - Introduction 01:47 - Ariel’s Background 06:07 - Self-Assembling Space Structures 10:44 - Applications of Space Real Estate 22:45 - Balancing Form and Function  25:13 - Vision for Aurelia Foundry 26:54 - Promising Sectors for Investment 33:12 - Unexplored Space Manufacturing Use-cases 35:40 - Future of Space Urbanism 38:34 - Challenges and Concerns in Space  41:29 - Recurrent Thoughts on Space 43:29 - Sci-Fi Favorites   🔗 Follow us: 🏠Website : https://www.e2mc.space/ 🤝🏻LinkedIn : https://www.linkedin.com/company/space-business-podcast/ 🌐Socials: https://linktr.ee/spacebusinesspodcast     🔗 Follow Raphael: 🔷LinkedIn -  https://www.linkedin.com/in/raphaelrottgen/ 🌐Instagram - https://.instagram.com/raphael_space/  ◇  Twitter/X - https://x.com/RaphaelE2MC   To Learn more about Space & the Space Economy: "To Infinity" – Raphael’s Revised Introduction to the Space Economy This book provides an insightful look into the space economy, its current trends, and future opportunities. 📚 https://a.co/d/6jIQ2LO  edX/EPFL's Space Economy MOOC This course offers a detailed understanding of the New Space Economy, covering key concepts and market developments. 🎓 https://www.edx.org/course/new-space- Space Business Newsletter 📬 https://spacebusiness.substack.com/  

Space Piracy is a new book about the prospect of organized crime in the space sector, anything ranging from hacking for ransom payments all the way to, some time in the future, actual piracy. The book’s co-authors, Marc Feldman and Hugh Taylor are my guests Enjoy! 🕰️ Timestamps:  00:00 Introduction 01:28 Meet the Authors: Mark Feldman and Hugh Taylor 04:10 The Genesis of the Book 05:55 Speculative Non-Fiction: Predicting Space Crime 14:53 Historical Parallels: Lessons from Terrestrial Piracy 22:53 Modern Piracy and Organized Crime 24:09 Future Threats and Governance Challenges 35:18 Actors in Space Crime: Governments, Criminals, and Companies 39:39 Preparing for Space Crime: Recommendations and Conclusions 42:17 Final Thoughts and Science Fiction   📍 About the Guests: Marc Feldman and Hugh Taylor are co-authors of the forthcoming book "Space Piracy - Preparing for a Criminal Crisis in Orbit", available e.g. on Amazon: https://www.amazon.com/Space-Piracy-Preparing-Criminal-Crisis/dp/1394240201/   🔗 Connect with them on LinkedIn: 🤝 Marc Feldman: https://www.linkedin.com/in/marc-feldman-599382243/ 🤝 Hugh Taylor: https://www.linkedin.com/in/hughbtaylor/   🔗 Follow us: 🏠Website : https://www.e2mc.space/ 🤝🏻LinkedIn : https://www.linkedin.com/company/space-business-podcast/ 🌐Socials: https://linktr.ee/spacebusinesspodcast     🔗 Follow Raphael: 🔷LinkedIn -  https://www.linkedin.com/in/raphaelrottgen/ 🌐Instagram - https://instagram.com/raphael_space/ ◇Twitter/X - https://x.com/RaphaelE2MC   To Learn more about Space & the Space Economy: "To Infinity" – Raphael’s Revised Introduction to the Space Economy This book provides an insightful look into the space economy, its current trends, and future opportunities. 📚 https://a.co/d/6jIQ2LO  edX/EPFL's Space Economy MOOC This course offers a detailed understanding of the New Space Economy, covering key concepts and market developments. 🎓 https://www.edx.org/course/new-space- Space Business Newsletter 📬 https://spacebusiness.substack.com/

This is my preview of what the coming year 2025 may hold for the Space sector - including in launch, satcom, earth observation, lunar exploration, in-space manufacturing, science, government, finance, events, etc. For the second half of the episode, fellow space investors Alexandra Vidyuk and Faraz Khan join me to provide their perspectives, in a roundtable format. 🕰️ Timestamps:  00:00 - Introduction 01:11 - 2025 Space Preview: Format and Caveats 03:31 - Launch Sector 08:56 - Space Hardware and Satellite Communications 11:35 - Lunar Missions and Human Spaceflight 14:37 - Space Manufacturing  17:30 -  Science Missions and Government 22:02 - Finance, Investments, and Space Events 26:47 - Special Guests Intro 28:00 - What is exciting in Space in 2025? 30:16 - Potential Concerns 34:07 - Beyond the U.S. 40:43 - Non-obvious Potential Events 47:03 - Wishes for the Space Sector in 2025   📍 About the Guests: Alexandra Vidyuk is a General Partner at Beyond Earth Technologies investment firm in early-stage space tech, robotics, energy, future computing, and advanced materials; a Venture Partner at Aloniq, a deep tech investment firm; Editor of the Space Ambition blog on Substack. Faraz Khan is a venture capitalist and technology expert currently serving as Founder and General Partner at Giant Step Capital, a VC firm with a number of space investments including e.g. Varda, Albedo, K2.   🔗 Follow us: 🏠Website : https://www.e2mc.space/ 🤝🏻LinkedIn : https://www.linkedin.com/company/space-business-podcast/ 🌐Socials: https://linktr.ee/spacebusinesspodcast     🔗 Follow Raphael: 🔷LinkedIn -  https://www.linkedin.com/in/raphaelrottgen/ 🌐Instagram - https://.instagram.com/raphael_space/  ◇  Twitter/X - https://x.com/RaphaelE2MC   To Learn more about Space & the Space Economy: "To Infinity" – Raphael’s Revised Introduction to the Space Economy This book provides an insightful look into the space economy, its current trends, and future opportunities. 📚 https://a.co/d/6jIQ2LO  edX/EPFL's Space Economy MOOC This course offers a detailed understanding of the New Space Economy, covering key concepts and market developments. 🎓 https://www.edx.org/course/new-space- Space Business Newsletter 📬 https://spacebusiness.substack.com/

Astroscale is a prominent space company from Japan, focused on a variety of on-orbit services incl. active space debris removal. My guest is their Group Chief Operating Officer, Chris Blackerby.   🕰️ Timestamps:  00:00 - Introduction 01:41 - Elevator Pitch 03:22 - On-Orbit Servicing Categories 06:53 - Core Competency of Astroscale: RPOD 09:00 - Tech Stack of current Mission 12:41 - Automated Space Operations and Safety 17:53 - Space Situational Awareness 20:46 - Space Debris 29:22 - Regulations 32:25 - What if we had a catastrophic event in orbit? 35:53 - Astroscale's Vision for a Circular Space Economy 38:19 - Astroscale's  Future Plans 41:10 - Astroscale's IPO 43:35 - Chris's journey from NASA to Astroscale 46:23 - U.S. vs. Japanese Space Sector  50:34 - Other Commercial Space Opportunities 52:06 - Chris’ Sci-Fi Favorites   📍 About the Guest: Chris Blackerby, Group COO of Astroscale. Astroscale is a pioneering company focused on space debris removal, ensuring the sustainability of Earth’s orbits. Based in Tokyo, Chris manages strategic planning, global operations, and the company’s activities across Japan, the UK, and the U.S. He also draws on his extensive experience as NASA’s Attache for Asia, where he forged international partnerships and advised on space policy.    🔗 Connect with Chris: 🤝 LinkedIn: https://www.linkedin.com/in/chris-blackerby-0111695/   🔗 Follow the Space Business Podcast: 🏠Website : https://www.e2mc.space/ 🤝🏻LinkedIn : https://www.linkedin.com/company/space-business-podcast/ 🌐Socials: https://linktr.ee/spacebusinesspodcast     🔗 Follow Raphael: 🔷LinkedIn -  https://www.linkedin.com/in/raphaelrottgen/ 🌐Instagram - https://.instagram.com/raphael_space/  ◇  Twitter/X - https://x.com/RaphaelE2MC   To Learn more about Space & the Space Economy: "To Infinity" – Raphael’s Revised Introduction to the Space Economy This book provides an insightful look into the space economy, its current trends, and future opportunities. 📚 https://a.co/d/6jIQ2LO  edX/EPFL's Space Economy MOOC This course offers a detailed understanding of the New Space Economy, covering key concepts and market developments. 🎓 https://www.edx.org/course/new-space- Space Business Newsletter 📬 https://spacebusiness.substack.com/