Ukrainian entrepreneur Max Polyakov claims that his company is working on a vertically integrated space business. After previous successful projects, i.e., the founding of Earth Observing System Data Analytics (EOSDA) in 2015 and helping Firefly Aerospace out of bankruptcy two years later, the company announces it’s further plans. .
Firefly Aerospace, Noosphere’s principal space investment, is in the process of making its first orbital attempt. The company stated in January that they needed 350 million USD to fast-track development. EOSDA is expecting to launch its first Synthetic Aperture Radar (SAR) satellites soon as it works on the optical spacecraft.
Dr. Max Polyakov spoke with SpaceNews and shed some light on future developments in the space industry and how they are coping with the pandemic’s effects.
The Pandemic vs. Space Industry
Companies in the space sector have been affected by the pandemic and have had to revisit their strategies, Polyakov said. However, he claimed that his companies remain focused on their long-term goals despite the short-term external challenges.
He also confirmed that their long-term strategy remained unchanged, and they will continue to invest in their companies for their future to remain bright. Moreover, he also claimed that their vertical integration principles are essential to sustain them through the pandemic.
Max also appreciated that there was worthy competition from other space companies. However, he claimed his company has a better standing because of its many years of experience in the industry.
SPACs and Space Start-ups
Dr. Polyakov also clarified his opinion on SPACs and their impact on space start-ups. Though young companies might obtain not only funding but the experience and passion of the investors, there might be some drawbacks in the general tendency.
While that is the best-case scenario, he also warns that if a company does not have intrinsic value, it could promise investors more than it can deliver. He claimed that this trend could lead to a market overcrowded with projects but very few products. In this regard, he advised space companies to first work on their core business and deliver products before they go public.
The Importance of Environmental, Social and Corporate Governance
Dr. Max Polyakov said that he is a firm believer in organizations taking responsibility for the impact of their operations in the area they work in. Therefore, these organizations require a well-thought-out strategy to ease the impact and make their progress public for all stakeholders to see.
He mentioned that ESG (Environmental, Social and Corporate Governance) could create many opportunities for companies similar to EOSDA. The data analytics the company provides would be helpful for organizations willing to keep an eye on the physical impact of their activities. He also hopes that it might be possible to minimize the number of satellites required to do certain tasks due to the new, improved cameras that are under development now.
