LUXEMBOURG--(BUSINESS WIRE)--Dec 26, 2024--
ispace EUROPE S.A. (ispace-EUROPE), the Luxembourg-based subsidiary of ispace, inc., and the Italian Space Agency (ASI) have signed a payload services agreement to transport a Laser Retroreflector Array (LaRA2) to enable accurate position measurements on the Moon via laser ranging experiments, the two organizations announced today.
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The agreement marks the first full-scale contract between ispace-EUROPE and ASI, with both organizations looking to joint future lunar development.
LaRA2 is a small, robust, and lightweight instrument built to work without any power source and to survive the harsh surface conditions on the Moon for an extended period of time. It features a precise array of retroreflectors (corner cube prisms) designed to reflect laser beams directly back to their source, regardless of the angle of incidence. The same instrument is installed on the NASA’s Perseverance rover, currently exploring Mars.
“This collaboration with the Italian Space Agency is a great example of how commercial companies are enablers to lunar science led by space agencies. Adding LaRA2 to the existing retroreflectors deployed on the Moon will open new possibilities of mapping the surface for scientific research and will help refining navigation capabilities to enable future missions” said Julien Lamamy, CEO of ispace-EUROPE.
The technology will be integrated into the APEX 1.0 lunar lander as part of ispace technologies U.S. (ispace-U.S.) Mission 3, currently scheduled to land in the Schrödinger Basin (far side of the Moon, South Pole) in 2026. After touchdown, ASI will enable long-term laser ranging observations of LaRA2 by lunar orbiters.
By coupling the LaRA2 measurements with measurements from other retroreflectors previously deployed on the near side of the Moon during the Apollo missions and others, ASI scientists expect to gather valuable data that will help mapping the Moon and improve navigation and positioning on the lunar surface.
ispace is leveraging its global presence through its three business units in Japan, the U.S., and Luxembourg, for the simultaneous development of upcoming missions. Mission 2, featuring the RESILIENCE lunar lander and TENACIOUS micro rover, is led by ispace Japan and is now scheduled for launch no earlier than mid-January 2025. Mission 3, debuting the APEX 1.0 lunar lander, is led by ispace-U.S. and is expected to launch in 2026. Mission 6, which will utilize the Series 3 lander, currently being designed in Japan, is scheduled to be launched by 2027.
About ispace, inc. ( https://ispace-inc.com )
ispace, a global lunar exploration company with the vision, “Expand our planet. Expand our future.”, specializes in designing and building lunar landers and rovers. ispace aims to extend the sphere of human life into space and create a sustainable world by providing high-frequency, low-cost transportation services to the Moon. The company has business entities in Japan, Luxembourg, and the United States with approximately 300 employees worldwide. ispace is leveraging its global presence through its three business units in Japan, the U.S., and Luxembourg, for the simultaneous development of Mission 2, currently planned to be launched no earlier than mid-January 2025, led by its Japanese entity, as well as Mission 3, currently planned to be launched in 2026 and led by its U.S. entity, and Mission 6, which will utilize the Series 3 lander and is scheduled to be launched by 2027. For more information, visit: www.ispace-inc.com and follow us on X: @ispace_inc.
About ASI ( ASI | Agenzia Spaziale Italiana )
ASI, the Italian Space Agency, was established in 1988 as a national authority with the task of drawing up and enacting Italian space policy in compliance with governmental guidelines. The Agency has established itself as one of the world’s foremost players in space science, satellite technology and the development of vehicles for exploring the cosmos. Today, ASI is a leader at the European and global levels. It has a close collaborative relationship with NASA and has participated in many of the most interesting scientific missions of recent years. One such project was the construction and operation of the International Space Station, which is currently home to several Italian astronauts. Thanks to ASI, Italy is at the forefront of this exemplary human endeavor.
The shape of LaRA2, a palm-sized dome (Photo: Business Wire)
Stocks wavered on Wall Street in afternoon trading Thursday, as gains in tech companies and retailers helped temper losses elsewhere in the market.
The S&P 500 was up less than 0.1% after drifting between small gains and losses. The benchmark index is coming off a three-day winning streak.
The Dow Jones Industrial Average was up 10 points, or less than 0.1%, as of 3:20 p.m. Eastern time. The Nasdaq composite was up 0.1%.
Trading volume was lighter than usual as U.S. markets reopened after the Christmas holiday.
Chip company Broadcom rose 2.5%, Micron Technology was up 1.3% and Adobe gained 0.8%.
While tech stocks overall were in the green, some heavyweights were a drag on the market. Semiconductor giant Nvidia, whose enormous valuation gives it an outsize influence on indexes, slipped 0.1%. Meta Platforms fell 0.5%, Amazon was down 0.4%, and Netflix gave up 0.7%.
Tesla was among the biggest decliners in the S&P 500, down 1.4%.
Health care stocks helped lift the market. CVS Health rose 1.4% and Walgreens Boots Alliance rose 3.9% for the biggest gain among S&P 500 stocks.
Several retailers also gained ground. Target rose 3.1%, Ross Stores added 1.8%, Best Buy was up 2.5% and Dollar Tree gained 3.6%.
Traders are watching to see whether retailers have a strong holiday season. The day after Christmas traditionally ranks among the top 10 biggest shopping days of the year, as consumers go online or rush to stores to cash in gift cards and raid bargain bins.
U.S.-listed shares in Honda and Nissan rose 4.2% and 15.9%, respectively. The Japanese automakers announced earlier this week that the two companies are in talks to combine.
Traders got a labor market update. U.S. applications for unemployment benefits held steady last week, though continuing claims rose to the highest level in three years, the Labor Department reported.
Treasury yields turned mostly lower in the bond market. The yield on the 10-year Treasury fell to 4.58% from 4.59% late Tuesday.
Major European markets were closed, as well as Hong Kong, Australia, New Zealand and Indonesia.
Trading was expected to be subdued this week with a thin slate of economic data on the calendar.
Still, U.S. markets have historically gotten a boost at year’s end despite lower trading volumes. The last five trading days of each year, plus the first two in the new year, have brought an average gain of 1.3% since 1950.
So far this month, the U.S. stock market has lost some of its gains since President-elect Donald Trump’s win on Election Day, which raised hopes for faster economic growth and more lax regulations that would boost corporate profits. Worries have risen that Trump’s preference for tariffs and other policies could lead to higher inflation, a bigger U.S. government debt and difficulties for global trade.
Even so, the U.S. market remains on pace to deliver strong returns for 2024. The benchmark S&P 500 is up roughly 26% so far this year and remains near its most recent all-time high it set earlier this month — its latest of 57 record highs this year.
Wall Street has several economic reports to look forward to next week, including updates on pending home sales and home prices, a report on U.S. construction spending and snapshots of manufacturing activity.
AP Business Writers Elaine Kurtenbach and Matt Ott contributed.
FIL:E - The New York Stock Exchange is shown in New York's Financial District on Dec. 23, 2024. (AP Photo/Peter Morgan, File)
FIL:E - People photograph the New York Stock Exchange in New York's Financial District on Dec. 23, 2024. (AP Photo/Peter Morgan, File)
Lights marking the entrance to a subway station frame the New York Stock Exchange in New York's Financial District on Monday, Dec. 23, 2024. (AP Photo/Peter Morgan)
People walk in front of Tokyo Stock Exchange building Wednesday, Dec. 25, 2024, in Tokyo. (AP Photo/Eugene Hoshiko)
Currency traders watch monitors near a screen showing the Korea Composite Stock Price Index (KOSPI), top left, and the foreign exchange rate between the U.S. dollar and the South Korean won, top center, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Dec. 26, 2024. (AP Photo/Ahn Young-joon)
Currency traders work at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Dec. 26, 2024. (AP Photo/Ahn Young-joon)
A currency trader talks to another near a screen showing the Korea Composite Stock Price Index (KOSPI), top left, and the foreign exchange rate between U.S. dollar and South Korean won, top center, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Dec. 26, 2024. (AP Photo/Ahn Young-joon)
A currency trader watches monitors near a screen showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between the U.S. dollar and the South Korean won at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Thursday, Dec. 26, 2024. (AP Photo/Ahn Young-joon)
