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Galactic Energy
Galactic Energy
Galactic Energy
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Key Information

Galactic Energy
Simplified Chinese星河动力
Literal meaningGalaxy Power
Transcriptions
Standard Mandarin
Hanyu PinyinXīnghé Dònglì
Ceres-1

Galactic Energy (Chinese: 星河动力) is a Chinese private space launch enterprise flying the Ceres-1[1][2][3] and developing the Pallas-1 and Ceres-2 orbital rockets. The company's long-term objective is to mine asteroids for rare metals and minerals.[4]

History

[edit]

Galactic Energy successfully conducted its first launch in November 2020 with a Ceres-1 rocket. Galactic Energy became the second private company in China to put a satellite in orbit successfully (after i-Space) and the fourth to attempt an orbital launch (after Landspace, OneSpace, and i-Space).[5]

On 6 December 2021, Galactic Energy launched its second Ceres-1 rocket, becoming the first Chinese private firm to reach orbit twice.[6] In January 2022, the company raised $200 million for reusable launch vehicle development.[7]

Ceres-1

[edit]
Main article: Ceres-1

Ceres-1 (Chinese: 谷神星一号) is a four-stage rocket, the first three stages use solid-propellant rocket motors and the final stage uses a hydrazine propulsion system. It is about 19 m (62 ft) tall and 1.4 m (4 ft 7 in) in diameter. It can deliver 400 kg (880 lb) to low Earth orbit or 300 kg (660 lb) to 500 km Sun-synchronous orbit (SSO).[8]

The first launch of Ceres-1 took place at 7 November 2020, successfully placing the Tianqi 11 (also transcribed Tiange, also known as TQ 11, and Scorpio 1, COSPAR 2020-080A) satellite in orbit.[9] The satellite's mass was about 50 kg (110 lb) and its purpose was to function as an experimental satellite offering Internet of things (IoT) communications.[10]

On 5 September 2023 the sea-launched version of the launch vehicle, designated Ceres-1S, made its debut successfully sending to orbit four Tianqi satellites. The launch took place from the DeFu 15002 converted barge (previously used also for launching the Long March 11 launch vehicle) off the coast of Haiyang.[11]

Ceres-2

[edit]

Ceres-2 is an improved version Ceres-1. It is expected to deliver up to 1600 kg to 500 km low Earth orbit and up to 1300 kg to 500 km SSO.[12] The first flight is expected in September of 2025.[13]

Pallas-1

[edit]
Main article: Pallas-1

The Pallas-1 (Chinese: 智神星一号) is a two-stage medium-lift orbital launch vehicle currently in development, with its inaugural flight anticipated in 2025.[14] The first stage will have legs and grid fins to allow recovery by vertical landing (much like the SpaceX Falcon 9).[15] The first stage of Pallas-1 uses seven “CQ-50” liquid oxygen/kerosene engines, with a lift-off mass of 283 tons and a maximum payload capacity to low Earth orbit (LEO) of 8 tons. Using three Pallas-1 booster cores as its first stage, the rocket will be capable of putting a 17.5-tonne payload into low Earth orbit (LEO).[16]

Marketplace

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Galactic Energy is in competition with several other Chinese space rocket startups, being LandSpace, Deep Blue Aerospace, Space Pioneer, I-Space, ExPace, LinkSpace, and OneSpace.

Launches

[edit]

Ceres-1 and 1S launches

[edit]
This section is an excerpt from Ceres-1 § Launches.[edit]
Rocket & Serial Date Payload Orbit Launch Site Outcome Remarks
Ceres-1 Y1 7 November 2020, 07:12[17] Tianqi-1 (Scorpio-1) SSO Jiuquan Success First flight of Ceres-1.
Ceres-1 Y2 7 December 2021, 04:12[18][19] Tianjin University-1

Lize-1 Baoyun Golden Bauhinia-5 Golden Bauhinia-1 03

SSO Jiuquan Success
Ceres-1 Y3 9 August 2022, 04:11[20] Taijing-1 01

Taijing-1 02 Donghai-1

SSO Jiuquan Success
Ceres-1 Y4 16 November 2022, 06:19[21] Jilin-1 Gaofen-03D 08

Jilin-1 Gaofen-03D 51 Jilin-1 Gaofen-03D 52 Jilin-1 Gaofen-03D 53 Jilin-1 Gaofen-03D 54

SSO Jiuquan Success
Ceres-1 Y5 9 January 2023, 05:04[22] Nantong Zhongxue

Tianmu-1 01 Tianmu-1 02 Xiamen Keji-1 Tianqi-13

SSO Jiuquan Success
Ceres-1 Y6 22 July 2023, 05:07[23] Qiankun-1

Xingshidai-16 (Tai'an)

SSO Jiuquan Success
Ceres-1 Y7 10 August 2023, 04:03[24] Diwei Zhineng Yingji-1 (Henan Ligong-1)

Xi'an Hangtou × 4 Xiguang-1 01 Xingchi-1B

SSO Jiuquan Success
Ceres-1 Y8 25 August 2023, 04:59[25] Jilin-1 Kuanfu-02A (HKUST-Xiongbin-1) SSO Jiuquan Success
Ceres-1S Y1 5 September 2023, 09:34[26] Tianqi-21

Tianqi-22 Tianqi-23 Tianqi-24

SSO DeFu 15002 platform,

Yellow Sea

Success First sea-launch flight.
Ceres-1 Y11 21 September 2023, 04:59[27] Jilin-1 Gaofen-04B SSO Jiuquan Failure First Ceres-1 failure after 9 consecutive successful launches since 2020.
Ceres-1 Y9 5 December 2023, 23:33[28] Tianyan-16
Xingchi-1A 		SSO Jiuquan Success
Ceres-1S Y2 29 May 2024, 08:12[29] Tianqi-25
Tianqi-26
Tianqi-27
Tianqi-28 		LEO Special converted barge (Dong Fang Hang Tian Gang)
Offshore waters of Rizhao, Yellow Sea 		Success
Ceres-1 Y12 30 May 2024, 23:39[30] Jiguang Xingzuo 01 & 02, Yunyao-1 14 (Hebei Linxi-1), Yunyao-1 25 (Zhangjiang Gaoke), Yunyao-1 26 (Nishuihan-2) SSO Jiuquan Success
Ceres-1 Y13 6 June 2024, 05:00[31] Eros
TEE-01B
Naxing-3 A & B 		SSO Jiuquan Success
Ceres-1S Y3 29 August 2024
05:22[32] 		Yunyao-1 (15,16,17)
Jitianxing A-03
Suxing 1-01
Tianfu Gaofen 2 		SSO Special converted barge (Dong Fang Hang Tian Gang)
Offshore waters of Rizhao, Yellow Sea 		Success
Ceres-1S Y4 19 December 2024
10:18[33] 		Tianqi 33-36 LEO Special converted barge (Dong Fang Hang Tian Gang)
Offshore waters of Rizhao, Yellow Sea 		Success
Ceres-1 Y16 20 January 2025
10:11[34] 		Yunyao-1 37-40
Jitianxing A-05 		SSO Jiuquan Success
Ceres-1 Y10 17 March 2025
08:07[35] 		Yunyao-1 55-60
AIRSAT-06 (Zhongke 06)
AIRSAT-07 (Zhongke 07) 		SSO Jiuquan Success
Ceres-1 Y17 21 March 2025
11:07[36] 		Yunyao-1 43-48 SSO Jiuquan Success
Ceres-1S Y5 19 May 2025
07:38[37] 		Tianqi 34-37 LEO Special converted barge (Dong Fang Hang Tian Gang)
Offshore waters of Rizhao, Yellow Sea 		Success
Ceres-1 Y15 5 September 2025
11:39[38] 		Kaiyun-1
Yuxing-3 08
Yunyao-1 27 		SSO Jiuquan Success
Ceres-1 Y 2025[28] TBA SSO Jiuquan Planned
Ceres-1 2025 (TBD)[39][40] Zengzhang-1 LEO Jiuquan Planned Reentry capsule

Pallas-1 launches

[edit]
Rocket & Serial Date Payload Orbit Launch Site Outcome Notes
Pallas-1 Y1 late 2025 TBA LEO TBA Planned First flight of Pallas-1.

Ceres-2 launches

[edit]
Rocket & Serial Date Payload Orbit Launch Site Outcome Notes
Ceres-2[13] September 2025 TBA TBA TBA Planned First flight of Ceres-2.

References

[edit]
[edit]
Revisions and contributorsEdit on WikipediaRead on Wikipedia

Galactic Energy

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Galactic Energy, officially Beijing Galactic Energy Aerospace Technology Co., Ltd., is a private Chinese aerospace company founded in February 2018 that develops and operates commercial launch vehicles, primarily focusing on small solid-propellant rockets for low-Earth orbit satellite deployments. The company, headquartered in Beijing and led by CEO Liu Baiqi, aims to provide cost-effective, high-frequency access to space for commercial customers, including multi-satellite rideshare missions, and has emerged as a key player in China's burgeoning private space sector. Galactic Energy's flagship rocket is the Ceres-1, a four-stage solid-fuel vehicle capable of delivering up to 400 kg to low Earth orbit (LEO) or 300 kg to a 500-km sun-synchronous orbit (SSO), with a debut flight in November 2020 from the Jiuquan Satellite Launch Center. The company is also advancing liquid-propellant technologies through the Pallas-1, a reusable two-stage rocket designed for 7,000 kg to 200-km LEO, which underwent second-stage static fire testing in September 2025 and first-stage power system testing in November 2025 and is planned for an orbital debut in early 2026. Future developments include the upgraded Ceres-2 solid rocket, targeting 1,600 kg to 500-km LEO, whose maiden flight on January 17, 2026, from the Jiuquan Satellite Launch Center failed due to an anomaly shortly after liftoff, and the more powerful Pallas-2, aiming for 20,000–58,000 kg to LEO with a planned debut in late 2026. Since its inception, Galactic Energy has conducted 23 launches of the Ceres-1, achieving 21 successes and two failures, including its first commercial sea launch in 2022, a mission failure on November 9, 2025, due to an upper-stage anomaly that resulted in the loss of three satellites, and a successful sea-based launch on January 16, 2026, deploying four satellites for the Tianqi constellation. The company also conducted its first Ceres-2 launch attempt on January 17, 2026, which failed due to an anomaly. The company has secured substantial funding to support its growth, including a Series C round of $154 million in late 2023 and a Series D round of $336 million (2.4 billion yuan) announced on September 28, 2025, enabling expansion of its reusable rocket programs and infrastructure. As of January 2026, Galactic Energy remains one of China's leading private launch providers, contributing to the nation's satellite constellations and international commercial space efforts.

Company Overview

Founding and Headquarters

Galactic Energy, officially known as Galactic Energy (Beijing) Space Technology Co., Ltd., was established on February 6, 2018, as a private aerospace company in Beijing, China. The firm was founded by Liu Baiqi, who serves as its CEO and legal representative, along with co-founder Xia Dongkun and other senior engineers with backgrounds in rocket design from Chinese state institutions. This incorporation occurred amid China's burgeoning private space sector, spurred by national policies promoting mass entrepreneurship and innovation since 2015, which encouraged the transition from state-dominated to commercially driven space activities. The company's headquarters are located in the Yizhuang Economic and Technological Development Zone in Beijing, specifically at CATIC Plaza, Building B, floors 4, 6, 9, and 15. Galactic Energy maintains additional facilities across China to support its operations, including research and development centers and sites proximate to major launch complexes such as the Jiuquan Satellite Launch Center in the Gobi Desert. From its inception, the initial focus was on developing small orbital launch vehicles, particularly solid-fueled rockets like the Ceres-1, designed to provide low-cost, high-frequency access to space for commercial micro- and nano-satellites. Early milestones included the release of development plans for its flagship vehicles in February 2018, securing angel investment by March 2018, and completing the first-stage engine design for the Ceres-1 by May 2018, marking rapid progress in a competitive landscape where private firms were vying to complement China's state launch capabilities. By December 2019, the company had been certified as a National High-tech Enterprise, underscoring its role in fostering innovation within the private space industry.

Leadership and Mission

Galactic Energy was founded in 2018 by Liu Baiqi, who serves as the company's CEO. Liu holds a PhD in aerospace engineering from Beihang University and previously worked at the China Academy of Launch Vehicle Technology, where he contributed to national launch programs. Xia Dongkun, another key executive, is the co-founder and executive vice president, with a PhD in signal and information processing; he has been instrumental in the company's operational and technical strategy. The company's mission is to develop and operate next-generation commercial launch vehicles, focusing on providing affordable and reliable access to space for small satellites and constellation deployments. Galactic Energy emphasizes solid-propellant rockets as an initial strategy for rapid market entry, while transitioning toward reusable liquid-propellant systems to enhance cost-efficiency and sustainability in China's burgeoning commercial space sector. This approach prioritizes commercial viability, drawing on domestic demand for dedicated launches amid growing satellite internet and remote sensing needs. In its early vision, Galactic Energy aimed to establish itself as a leader in private spaceflight within China, inspired by global pioneers like SpaceX, particularly in developing high-performance engines analogous to the Merlin for reusable applications. Long-term goals include enabling resource extraction from asteroids to support broader space commercialization and resource utilization.

Launch Vehicles

Ceres-1

The Ceres-1 is a small-lift launch vehicle developed by Galactic Energy as its inaugural orbital rocket, designed primarily for deploying small satellites into low Earth orbit (LEO) and sun-synchronous orbits (SSO). It features a four-stage configuration, with the first three stages powered by solid-propellant motors and the fourth stage utilizing a liquid hydrazine propulsion system for precise orbit insertion and adjustments. This hybrid approach combines the simplicity and reliability of solid fuels for the initial boost phases with the controllability of liquid propulsion for the upper stage, enabling efficient rideshare missions for CubeSats and microsatellites. The rocket stands 19 meters tall with a diameter of 1.4 meters and a liftoff mass of approximately 30 metric tons, making it compact and suitable for rapid integration at launch sites. Development of the Ceres-1 began shortly after Galactic Energy's founding in early 2018, with the company—established by former engineers from state-owned launch entities—focusing on an all-solid initial design to accelerate time-to-market for commercial small satellite launches. Initial design and prototyping occurred from 2018 to 2020, incorporating composite materials for the fairing and military-standard interfaces to support payloads ranging from 1U to 12U CubeSats. The project faced delays due to the COVID-19 pandemic, shifting the maiden flight from early 2020 to November 7, 2020, when it achieved orbital insertion, marking Galactic Energy as the second private Chinese firm to reach orbit. Subsequent test flights refined the vehicle's performance, leading to operational status by 2021 with improved payload integration and separation mechanisms, such as explosive bolts ensuring attitude deviations of ≤1° and rates of ≤0.3°/s. In terms of performance, the Ceres-1 delivers up to 420 kg to LEO or 300 kg to a 500 km SSO, with injection accuracies including half-length axis deviations of ≤5 km and orbital inclination errors of ≤0.1°. The vehicle's dynamic environment limits longitudinal overload to ≤9g and lateral to ≤0.6g, prioritizing satellite safety during ascent. Propulsion specifics for the solid stages include a vacuum specific impulse of around 287 seconds for key engines, as demonstrated in ground tests, though full stage data remains proprietary. Launch costs are estimated at approximately $4 million, positioning it as an affordable option for the commercial small-launch market. A notable variant, the Ceres-1S, was introduced in 2023 to enable sea-based launches from mobile platforms in the Yellow Sea, enhancing flexibility for equatorial or inclined orbits and reducing range safety constraints. The Ceres-1S retains the core design of its land-based counterpart but incorporates adaptations for maritime deployment, including stabilized launch structures, and debuted successfully that September with a cluster of satellites. This variant supports the same payload class while broadening Galactic Energy's operational footprint beyond fixed sites like Jiuquan Satellite Launch Center.

Ceres-2

The Ceres-2 is a small-lift launch vehicle developed by Galactic Energy as an evolution of the Ceres-1, incorporating design upgrades for enhanced performance and flexibility. It features a three-stage solid-propellant configuration augmented by a liquid upper stage, providing greater efficiency compared to the all-solid Ceres-1 baseline. With a takeoff mass of approximately 100 tons, the rocket supports both land-based and sea-based launches, and its modular design allows adaptation for electromagnetic rail-assisted launches to further improve capabilities. The Ceres-2 offers significantly higher payload capacity than its predecessor, rated at 1,600 kg to low Earth orbit (LEO) and 1,300 kg to a 500 km sun-synchronous orbit (SSO). This increase stems from scaled-up solid motors and an improved liquid upper stage, enabling it to target small-to-medium satellite constellations and responsive launch needs. Among solid-propellant vehicles, it emphasizes high launch efficiency and cost-effectiveness, positioning it as a competitive option in China's commercial space sector. Development of the Ceres-2 was announced following the successful operational flights of Ceres-1, with steady progress reported throughout 2024 and into 2025. The first flight was initially targeted for the first half of 2025, though preparations extended into late 2025 amid ongoing integration efforts. Key innovations include the refined liquid upper stage for precise orbit insertion and compatibility with advanced launch infrastructure like electromagnetic systems, which could potentially double payload capacity in future variants. Testing milestones advanced notably in 2025, with multiple critical ground tests completed by mid-year, including electrical systems, propulsion integration, and structural verifications to ensure reliability. By August 2025, the vehicle had undergone comprehensive subsystem validations, paving the way for full vehicle assembly and hot-fire preparations. These efforts underscore Galactic Energy's focus on rapid iteration from Ceres-1 heritage while addressing scalability for broader commercial applications. The maiden flight of the Ceres-2 occurred on January 17, 2026 (0408 UTC), from the Jiuquan Satellite Launch Center in northwest China, and was intended to deploy approximately six satellites into low Earth orbit. However, the launch failed shortly after liftoff due to an unspecified anomaly, resulting in the loss of the vehicle and payload. The cause of the failure is under investigation by Galactic Energy.

Pallas-1

The Pallas-1 is a medium-lift, partially reusable orbital launch vehicle under development by Galactic Energy, designed to support larger payloads and frequent launches in the commercial space sector. It consists of a two-stage configuration with an optional advanced upper stage, powered by liquid oxygen and kerosene propellants, marking a shift from the company's earlier solid-propellant designs toward fully liquid-fueled reusability. The rocket stands 42 meters tall with a diameter of 3.8 meters and a liftoff mass of 283 metric tons, enabling it to deliver up to 7 metric tons to a 200-kilometer low Earth orbit in its baseline single-core setup. An enhanced variant, Pallas-1B, incorporates three booster cores strapped to the first stage, boosting payload capacity to 17.5 metric tons to the same orbit. The first stage is equipped with seven CQ-50 engines, each producing approximately 50 tons of thrust for a total sea-level liftoff thrust of around 350 tons-force, while the second stage uses a single CQ-50 vacuum-optimized engine. Development of the Pallas-1 began in earnest in 2022 following a major funding round dedicated to reusable liquid rocket technology, with initial prototypes and subsystem testing advancing through 2024, including wind tunnel evaluations for aerodynamic features. By 2025, key milestones included successful static fire tests of the second stage in September, completion of the first-stage power system with a static fire test on November 4, positioning the vehicle for its maiden flight in late 2025 from the Jiuquan Satellite Launch Center. Reusability is a core feature, with the first stage designed for vertical propulsive landing using four grid fins for atmospheric reentry control and four landing legs for touchdown, similar to established reusable architectures but adapted for China's commercial needs. The second stage incorporates advanced reusability elements, such as efficient propulsion for potential recovery, though initial flights will focus on first-stage demonstration. This design draws briefly from lessons in staging and integration gained from Galactic Energy's smaller Ceres-series vehicles. The fairing, made of composite materials in a Von Karman shape, measures 4.2 meters in diameter and 8 meters in height, supporting a range of payload interfaces including CubeSats and military standards. Overall, the Pallas-1 aims to reduce launch costs through rapid turnaround and high flight rates, targeting up to 50 reuses per booster.

Launch History

Successful Missions

Galactic Energy has achieved 20 successful orbital launches with its Ceres-1 rocket as of November 2025, marking it as one of China's leading private space launch providers. These missions have deployed over 85 commercial satellites, primarily into sun-synchronous orbits for Earth observation and communication purposes. The company's launch cadence has accelerated significantly, with five successful flights in 2024 and five more in 2025 through September, demonstrating reliable operational tempo. The inaugural Ceres-1 mission on November 7, 2020, from Jiuquan Satellite Launch Center successfully orbited the Tianqi 11 satellite, making Galactic Energy the first private Chinese company to achieve an orbital launch. This milestone paved the way for subsequent successes, including the second flight on December 7, 2021, which deployed five satellites—Jinzijing 1-03, Jinzijing 5, Tianjin Daxue 1, Lize 1, and Baoyun—further validating the vehicle's commercial viability. By 2023, Galactic Energy expanded its capabilities with the debut sea launch of Ceres-1S on September 5 from a barge in the Yellow Sea, carrying the Tianqi 21 through 24 constellation satellites for IoT applications. Payloads across these missions have focused on small satellites, including Earth observation platforms like the Jilin-1 and Yunyao-1 series, as well as communication networks such as Tianqi. For instance, the January 20, 2025, launch from Jiuquan placed Yunyao-1 satellites 37 through 40, along with Jitianxing A-05, into orbit to support remote sensing initiatives. Another notable mission on March 17, 2025, deployed eight satellites, including AIRSAT 06 and 07 plus Yunyao-1 units 55 through 60, highlighting the rocket's role in building commercial constellations. Launches have primarily originated from Jiuquan Satellite Launch Center's LC-43/95B pad, with sea-based operations conducted from mobile platforms in the Yellow Sea to enhance flexibility and reduce scheduling conflicts. These achievements position Galactic Energy as the private firm with the most orbital successes in China, contributing to the nation's growing commercial space sector through consistent delivery of microsatellites for diverse applications.

Failed Missions

Galactic Energy has encountered three failures in its launch history, two with its Ceres-1 launch vehicle out of 22 attempts and one with Ceres-2, marking significant setbacks in its otherwise strong record of commercial orbital missions. The first incident occurred on September 21, 2023, during the Y11 mission launched from the Jiuquan Satellite Launch Center, where a second stage anomaly, due to abnormal ablation of the nozzle extension, caused the rocket to deviate from its planned trajectory, resulting in the loss of the primary payload, the Jilin-1 Gaofen-04B remote-sensing satellite. In response, the company issued a public apology to its customer, Changguang Satellite Technology, and launched a detailed investigation into the anomaly. The investigation led to a temporary halt in Ceres-1 launches while issues were addressed. The second failure took place on November 10, 2025, with the Y19 mission, also from Jiuquan, where the fourth stage experienced an abnormal shutdown approximately 510 seconds after ignition, preventing the deployment of three satellites—two for optical remote sensing and one for university research. This mishap, occurring amid preparations for an A-share initial public offering initiated in late October 2025, prompted another round of investigation by the company. Galactic Energy again issued a public apology and reaffirmed its commitment to optimizing rocket design and management systems, resulting in a temporary suspension of launches to ensure reliability. The third failure occurred on January 17, 2026, during the Y1 maiden flight of the Ceres-2 rocket, launched from the Jiuquan Satellite Launch Center at 12:08 p.m. Beijing Time (04:08 UTC). The mission, codenamed "Yueyunjin," aimed to deploy six satellites, including the Lilac-3 satellite from the Harbin Institute of Technology. However, the rocket experienced anomalies shortly after liftoff, leading to its disintegration during first-stage flight and a ground crash, preventing orbital insertion. Galactic Energy confirmed the failure, issued apologies to all involved parties, and initiated an investigation into the cause, with a temporary suspension of Ceres-2 launches anticipated.

Future Developments

Upcoming Vehicles and Launches

Galactic Energy conducted the debut launch of its Ceres-2 rocket on January 17, 2026, from the Jiuquan Satellite Launch Center. This solid-propellant vehicle, designed for enhanced payload capacity to low Earth orbit (LEO) and sun-synchronous orbit (SSO), carried six commercial satellites but experienced an anomaly shortly after liftoff, resulting in a failure and ground crash. The company is investigating the cause of the mishap. The vehicle targets deployments for satellite constellations, including secured contracts with operators like the Guowang national broadband megaconstellation, emphasizing missions to SSO and LEO altitudes. The Pallas-1, Galactic Energy's first partially reusable launch vehicle featuring a recoverable first stage, has advanced through key testing milestones in 2025. Its second stage underwent a successful hot-fire test in September 2025, demonstrating the CQ-50 liquid engine's performance, while the first stage completed a static fire test on November 4, 2025. First-stage preparations continue ahead of transport to the Jiuquan Satellite Launch Center. The inaugural flight is scheduled for late 2025, including an initial reusability demonstration via first-stage landing, with follow-on missions planned for 2026 to handle heavier payloads up to 7,000 kg to LEO. Pallas-1 efforts may face additional scrutiny following the recent failures of Ceres-1 in November 2025 and Ceres-2 in January 2026, as well as ongoing regulatory approvals in China's commercial space sector, potentially influencing timelines. To support growing demand for small satellite launches, Galactic Energy aims to ramp up its overall launch cadence, incorporating sea-based operations with vehicles like Ceres-2 to achieve multiple missions annually by 2027. The company has secured deals with satellite operators for constellation builds, prioritizing SSO and LEO insertions to meet commercial needs amid China's expanding space infrastructure. These plans, bolstered by a $336 million funding round in September 2025, underscore the firm's focus on reliable, frequent access to orbit despite setbacks from the 2025 Ceres-1 and 2026 Ceres-2 failures.

Asteroid Mining Initiatives

Galactic Energy has articulated a long-term vision to support asteroid mining operations as part of its broader ambitions in the commercial space sector, positioning the company to contribute to in-situ resource utilization (ISRU) beyond traditional launch services. Founded in 2018, the company identified enabling asteroid mining and human spaceflight as ultimate goals early in its development, reflecting a strategic intent to address future market demands for deep space exploration and resource extraction. This vision emphasizes the potential of asteroids as sources of valuable materials, aligning with global interests in sustainable space economies, though Galactic Energy's role is framed primarily as providing launch capabilities rather than direct mining operations. The company's technological roadmap integrates the development of the Pallas-series reusable launch vehicles to facilitate access to deep space, with plans for a large, fully reusable system capable of round-trip missions by 2030 to support asteroid-related activities. In a 2022 interview, founder Liu Zhihua outlined a phased approach where, post-2030, Galactic Energy anticipates market needs for asteroid mining and aims to develop more powerful launchers accordingly. While no specific partnerships for prospecting technologies have been publicly announced as of 2025, the integration of these goals into the company's mission statements underscores a commitment to evolving from orbital delivery to enabling extraterrestrial resource utilization. Progress remains at the conceptual stage, with no dedicated hardware developed yet, though the reusable Pallas-1 rocket is seen as a foundational step toward these deeper space objectives. Key challenges for Galactic Energy's asteroid mining initiatives include regulatory hurdles in China, where the government has outlined a position on space resource utilization that affirms its legality under international frameworks like the Outer Space Treaty while emphasizing coordinated national efforts. Technical feasibility of extraction and processing in microgravity environments poses additional obstacles, requiring advancements in robotics, propulsion, and materials handling that the company has not yet demonstrated. These factors highlight the ambitious nature of transitioning from launch provider to ISRU enabler, with Galactic Energy's efforts contributing to China's overall space resource strategy amid global competition.

Market Position

Funding and Investments

Galactic Energy secured its initial significant funding in early 2022, raising approximately $200 million through Series B and B+ rounds completed between July and December 2021, led by investors including Shanghai Alliance Investment Management and Oriental Fortune Capital. These funds were primarily allocated to the development of reusable launch vehicle technologies. The company continued its investment trajectory with a Series C round in December 2023, raising $154 million (1.1 billion yuan) led by Ziyang Heavy Industry Fund and supported by investors such as Bengbu Investment. This financing focused on advancing research and development for the reusable Pallas-1 rocket, enhancing the company's capabilities in liquid-propellant propulsion systems. By September 2025, Galactic Energy completed a Series D round, securing $336 million (2.4 billion yuan) from state-backed entities including Beijing government funds, Nanjing Innovation Investment, and CCB International, bringing its cumulative funding since 2018 to over $700 million. This total capital has supported the progression of its Ceres and Pallas rocket series. Galactic Energy generates revenue primarily through commercial launch contracts with satellite operators and government subsidies for space infrastructure projects. Successful missions, such as multiple Ceres-1 deployments in 2024 and 2025, have contributed to increasing its valuation ahead of public market entry. In preparation for an initial public offering (IPO) on the Shanghai STAR Market, Galactic Energy initiated counseling with the Shanghai Stock Exchange in October 2025.

Competition in China

Galactic Energy operates in a highly competitive domestic private space sector in China, where it contends with several prominent startups focused on launch vehicle development. Key rivals include LandSpace, which has advanced its Zhuque series of methane-fueled liquid rockets, achieving a successful launch of the Zhuque-2E in May 2025 and preparing the reusable Zhuque-3 for its maiden orbital flight by late 2025. i-Space has demonstrated reliability with its solid-propellant Hyperbola-1, securing an orbital success in July 2025, including the deployment of imaging satellites. Space Pioneer is progressing toward reusability with the Tianlong-3, a kerosene-liquid oxygen vehicle that completed a nine-engine static fire test in September 2025 and is slated for debut by year's end. Deep Blue Aerospace, emphasizing vertical takeoff and landing, conducted a second-stage static fire for its Nebula-1 in September 2025, targeting an orbital launch to test recovery capabilities. In terms of market position, Galactic Energy maintains a leading role in small-lift launches through its solid-fueled Ceres series, with multiple successful missions establishing it as a go-to provider for lightweight payloads up to 300 kg to sun-synchronous orbit. However, it trails competitors in liquid propulsion and reusability advancements, where LandSpace and Space Pioneer are pioneering cost-reducing technologies akin to global standards. Both Galactic Energy and its rivals vie aggressively for contracts to deploy China's burgeoning satellite constellations, including those for communications and Earth observation, amid a private sector that launched dozens of missions in 2025. Galactic Energy differentiates itself by prioritizing solid rockets, which enable faster turnaround times and simpler operations for rapid-response launches, in contrast to the liquid-engine focus of most competitors that promises higher efficiency but requires more complex infrastructure. This approach suits niche markets like small satellite rideshares, though it faces pressure from rivals' scalability in medium-lift capacities. The Chinese private space industry has expanded rapidly, surpassing 500 companies by mid-2025, fueled by venture capital exceeding $3 billion since 2020 and policies encouraging innovation in aerospace. Government entities like the China Aerospace Science and Industry Corporation (CASIC) provide indirect support through technology transfers, launch site access, and regulatory frameworks that integrate private firms into national programs, though state-owned giants like CASC still dominate overall capacity. Intense rivalry poses challenges, as private operators compete for a finite number of slots amid China's record 72 orbital launches in 2025, with only a fraction allocated to commercial missions. This saturation, coupled with the need to secure constellation deals from domestic clients like Shanghai Spacecom, underscores the pressure on Galactic Energy to innovate beyond solids while leveraging its established track record.

References

  1. https://spacenews.com/galactic-energy-secures-336-million-nears-debut-of-new-reusable-and-solid-rockets/
  2. https://www.pekingnology.com/p/meet-galactic-energy-chinas-leading
  3. https://sky-brokers.com/supplier/galactic-energy/
  4. https://www.globaltimes.cn/page/202511/1347340.shtml
  5. https://spacenews.com/new-rocket-plans-continue-to-emerge-to-support-chinas-growing-space-ambitions/
  6. https://spacenews.com/china-hit-by-dual-launch-failures-as-long-march-3b-and-ceres-2-debut-mission-fail/
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  10. https://spacenews.com/china-launches-alsat-3a-for-algeria-ceres-1-sea-launch-adds-to-tianqi-constellation/
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  50. https://www.equalocean.com/news/2022012416956
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  52. https://tracxn.com/d/companies/galactic-energy/__Hkl_4aFY6axorcXRG5ScminAqya9VfmJGoU9rdILjHw/funding-and-investors
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