Astroscale shares jumped 19% on August 19 after the Japanese space startup announced it had won a 12 billion yen ($81 million) contract from the Japan Aerospace Exploration Agency (JAXA) to carry out a mission to clean up debris in Earth's orbit.
Astroscale said it will sign a five-year contract with JAXA on August 20. Under the agreement, the company will be responsible for removing the upper stage of JAXA's H-IIA rocket, which was launched in 2009 and is currently in orbit about 600 kilometers above the Earth's surface.
To accomplish this mission, Astroscale is developing a special spacecraft called ADRAS-J2. This spacecraft is equipped with an advanced robotic arm capable of accurately grasping debris, to collect space junk from now until March 2029.
Space debris is man-made objects, mainly old satellites that are no longer operational, spacecraft and rockets that have encountered problems or have been intentionally destroyed. In recent years, the number of rocket and satellite launches has increased, resulting in an increase in space debris. These objects pose a risk of collision with operational satellites, while there is no specific method to clean up space debris.
Astroscale was founded in 2013 to provide commercial space debris removal services. In the future, the company plans to collect space debris using robotic arms mounted on satellites and burn the debris in the atmosphere.