Eye of the Dragon

Balerion Principal Aidan Daoussis sits down with Ben Schafer, Co-Founder & CEO of Rarefied Technologies, to discuss photophoretic flight in the mesosphere. Rarefied is developing ultralight structures that absorb light and convert it into heat, creating thrust through interactions with gas molecules in the rarefied upper atmosphere. The company is targeting the largely inaccessible 50–100 kilometer altitude range for applications including atmospheric sensing, space weather data, communications, and defense.00:00 – Introduction and Rarefied Technologies overview01:30 – Photophoretic propulsion and the physics behind light-driven flight03:00 – Founder background, Harvard research, and the company’s spinout05:31 – Customers, data-as-a-service, and potential commercialization models06:54 – R&D milestones, technical risks, and the path to a field demonstration10:16 – MEMS steering, phased arrays, and laser-based station keeping13:36 – Propulsion context, planetary applications, and payload limitations17:04 – Common misconceptions and the 50–100 kilometer mesosphere operating range20:55 – Materials science, communications infrastructure, and vehicle stability24:08 – Strategic significance for sensing, communications, and defense applications27:32 – Space weather as the beachhead market and likely early customers29:44 – Balloon and rocket deployment pathways, including NASA programs31:35 – Founder lessons, customer discovery, and identifying the right market34:02 – Space weather risk, telecommunications potential, vehicle lifetime, and payload scaling43:03 – Laser communications, Arctic applications, infrastructure requirements, and closing takeaways This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Principal Aidan Daoussis sits down with Alessandro Stabile, Founder & CEO of Magma Space, to discuss precision satellite control. Magma Space is developing magnetically levitated reaction wheels and an integrated satellite control system designed to reduce microvibrations, improve pointing stability, and increase spacecraft reliability. The technology targets applications including high-resolution imaging, laser communications, in-space manufacturing, and autonomous spacecraft operations.00:00 – Magma Space overview and magnetically levitated reaction wheels02:32 – How reaction wheels control spacecraft and create microvibrations04:04 – Alessandro Stabile’s background and the origins of Magma Space06:00 – High-resolution imaging, in-space manufacturing, and initial markets10:18 – Scaling reaction wheels for larger spacecraft and observatories12:05 – Precision pointing for laser communications and power beaming16:18 – Magnetic levitation technology and changing market requirements18:36 – Earth observation, high-bandwidth data links, and live imaging21:21 – Defense applications and proliferated satellite architectures23:03 – Non-Earth imaging and space-to-space intelligence missions26:01 – Government funding, commercial customers, and flight demonstrations29:18 – Building an integrated control system and autonomous spacecraft capabilities31:03 – Maneuverability, propellant efficiency, and tunable reaction wheels35:36 – Control moment gyros, space stations, and artificial gravity concepts38:20 – Future space infrastructure, orbital traffic, debris, and the Kessler effect44:47 – Parabolic testing, ISS demonstrations, flight heritage, and reliability qualification This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Principal Aidan Daoussis sits down with Laura Moreno Patricio, CEO of EarthPulse, to discuss making Earth observation data usable at scale. EarthPulse combines multi-source satellite data, AI models, and client data into modular solutions that integrate into existing workflows for utilities, insurers, infrastructure operators, and governments. The company aims to turn fragmented Earth observation data into actionable risk, resilience, and compliance information without requiring in-house imagery expertise.00:00 – Introduction and EarthPulse’s approach to making Earth observation data usable03:12 – Customers, risk analysis, and productized alternatives to traditional consulting06:34 – Laura Moreno Patricio’s background and the founding of EarthPulse09:12 – Combining satellite sources, partnerships, and multi-source data fusion11:14 – Why Earth observation applications require diverse datasets and analytics13:48 – Building software that replaces the need for specialized imagery analysts16:20 – Barriers to enterprise adoption and integrating analytics into daily workflows20:34 – Building and financing a European deep-tech company24:04 – European versus U.S. venture capital and international expansion26:51 – Using public funding before transitioning toward private capital28:43 – How LLMs and foundation models are accelerating EarthPulse’s product roadmap30:26 – European space investment, scaling startups, and the role of U.S. capital35:21 – European space sovereignty and the global Earth observation ecosystem37:49 – Customizing EarthPulse solutions for individual enterprise workflows41:41 – Connecting Earth observation insights to operational decisions and actions46:19 – Reaching end users through trusted industry partners and existing software48:32 – EarthPulse’s roadmap and vision for making geospatial analytics a commodity50:04 – Closing thoughts on unlocking the value of satellite data This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Principal Aidan Daoussis sits down with Chris Stott, Founder, Chair & CEO of Lonestar Data Holdings, to discuss data centers in space. Lonestar is developing orbital data centers for secure, sovereign data storage and processing, with four systems already flown in space. The company is focused on protecting data while enabling inference, AI workloads, and geographically distributed access.00:00 – Introduction and Lonestar’s secure, sovereign data-center model01:38 – Why data centers in space are emerging as a major market03:44 – What an orbital data center looks like and how the architecture scales06:24 – Power, cooling, economics, and the broader role of data in the space economy09:22 – Addressing thermal, radiation, and maintainability concerns15:23 – Distributed satellite architectures and the future scale of space-based compute16:48 – Comparing orbital and lunar data centers18:43 – Technical and commercial barriers to scaling, and Lonestar’s path to operations21:24 – SpaceX, launch competition, sovereignty, and market differentiation24:15 – Space security, debris, regulation, insurance, and operational risk32:10 – Ocean-based data centers and alternatives to terrestrial infrastructure38:28 – Public resistance to data centers, geopolitics, and infrastructure competition44:22 – Rapid growth in global data creation and the role of AI-driven demand45:36 – Fusion, quantum computing, biotechnology, and other exponential technologies49:23 – Final takeaways: technological progress, data resilience, and Lonestar’s outlook This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Principal Aidan Daoussis sits down with Derek Sutherland, Chief Scientific Officer of Realta Fusion, to discuss magnetic mirror fusion. Realta is developing a modular magnetic mirror architecture that confines fusion plasma in a linear geometry using high-temperature superconducting magnets. The discussion covers fusion economics, direct energy conversion, commercialization pathways, and potential applications in space propulsion.00:00 – Introduction and Realta’s magnetic mirror approach to fusion02:55 – History of magnetic mirrors, HTS magnets, and the founding of Realta07:09 – Why fusion may move from research toward commercial power in the 2030s09:41 – Why fusion development requires large amounts of capital12:40 – Fusion economics, abundant fuel, and potential impact on global energy15:29 – Realta’s target power range, plant footprint, and modular scaling17:27 – Data centers, grid interconnects, coal plant repowering, and industrial process heat21:02 – Advances in HTS magnets, computing, simulation, and Realta’s digital twin23:59 – Physics and engineering work at Realta and experiments on the WAM device26:47 – Direct energy conversion and future deuterium-helium-3 fuel cycles29:11 – Commercial competition, cost reduction, and the target of below $50/MWh32:42 – Fusion versus fission, regulation, and the potential for fusion space propulsion38:20 – Antimatter propulsion, production and storage challenges, and fusion as a nearer-term alternative43:21 – Plasma safety and how magnetic fields confine extremely hot fusion plasmas50:04 – Fusion milestones from early experiments to NIF ignition and the path toward commercialization57:40 – Closing perspective on fusion’s next decade and opportunities to enter the industry This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Advisor Doug McAdams sits down with Jim Keravala, CEO of StellarWorld, to discuss lunar cities and off-Earth industrial infrastructure. StellarWorld is developing a commercial framework for lunar cities, transportation, power, mining, manufacturing, and data centers. Its architecture combines terrestrial robotic mining experience with a network of partner companies intended to build scalable infrastructure on the Moon.00:00 – Introduction and Jim Keravala’s background in spacecraft, launch, and space entrepreneurship03:42 – Why now: AI, industrial growth, and the Moon as the next infrastructure highway09:52 – Space settlement philosophy and the challenge of moving from vision to execution11:36 – StellarWorld, Lunar Cities Development Company, and the holding-company architecture16:47 – Building a multimodal transportation network from Earth to the lunar surface22:04 – Nuclear electric, nuclear thermal, and future fusion propulsion24:47 – Lunar landers, cargo barges, and the need for standardized lunar civil engineering27:50 – Civil Engineering 1.0 and the transition from the industrial age to the agentic age32:33 – AI-driven productivity, economic growth, and future infrastructure demand35:20 – Onworld Mining, terrestrial robotic mining, and the “terrestrial then celestial” strategy37:32 – Lunar data centers and the need for large-scale power and thermal management39:20 – Space-based solar, surface nuclear power, and lunar manufacturing43:23 – Timeline toward underground factories, data centers, and Lunar City District 146:25 – Why humans would live on the Moon in an increasingly autonomous economy52:00 – Underground lunar cities, radiation protection, and long-term human habitation54:09 – Scaling launch cadence and treating space as a commercial industrial domain56:03 – Closing vision: robotic swarm mining as the foundation for autonomous lunar development This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Senior Associate Aidan Daoussis sits down with Sebastian Aristotelis, Co-founder & Lead Architect of SAGA Space Architects, to explore what it will actually take for humans to live beyond Earth. Sebastian discusses SAGA’s mission-driven approach to space architecture, its deployable and 3D-printed habitats, lessons from living for months in an Arctic analog habitat, and the overlooked challenges of privacy, hygiene, sleep, and human well-being in extreme environments. They also discuss SAGA’s work with ESA, rigid-panel deployable structures, the economics of lunar habitats, and Sebastian’s vision for permanent settlements on the Moon and Mars.00:00 – Sebastian’s path from architecture and science fiction to designing habitats for extreme environments and space03:30 – What space habitats actually look like and why every SAGA design starts from the mission requirements07:10 – SAGA’s built habitats, including the Rosenberg Habitat, Lunark, and ESA’s Artemis training habitat11:02 – Engineering for the Moon: temperature extremes, micrometeorites, radiation, pressurization, and regolith shielding13:27 – What it will take to put a SAGA habitat on the Moon and why transportation infrastructure remains the bottleneck16:31 – The unglamorous realities of space habitation: human waste, hygiene, air recycling, and odor control20:03 – SAGA’s customer base across space agencies, aerospace companies, research institutions, and Starlab21:32 – Human-centered space architecture: privacy, sleeping quarters, ergonomics, climate control, and limited volume24:20 – Rigid-panel deployable habitats and using architecture to improve astronaut well-being and productivity25:40 – Circadian lighting, astronaut sleep, and SAGA technology now being tested aboard the International Space Station27:55 – SAGA’s competitive advantage: speed, vertical integration, in-house manufacturing, and rapid iteration30:22 – Lessons from living in Lunark in Greenland and experiencing acute and long-term stress firsthand33:55 – How lunar habitation could evolve from temporary deployable shelters to permanent settlements built with local resources38:52 – Why Sebastian believes lunar habitats can be built far more cheaply with a focused, scrappy engineering approach40:53 – What it would mean for humanity to truly become a multi-planetary species43:13 – Sebastian’s ten-year prediction: SAGA’s first habitat on the Moon This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Principal Aidan Daoussis sits down with Ahmed Nassar, Co-Founder & CEO of AQMAAR, to discuss Egypt’s emerging private space sector. AQMAAR is developing satellite-enabled services in Egypt, beginning with downstream applications such as agricultural remote sensing while building toward future satellite missions. Nassar discusses the technical talent, regulatory constraints, capital requirements, and market-development challenges shaping Egypt’s private space ecosystem.00:00 – Introduction and AQMAAR’s role in Egypt’s emerging private space sector01:19 – Nassar’s aerospace background, first startup, and the founding of AQMAAR04:58 – Early satellite component strategy and the challenge of establishing customer trust07:29 – Working with the Egyptian Space Agency and exploring satellite manufacturing09:25 – Pivoting toward proprietary missions and developing a viable space business model11:35 – Egypt’s changing regulatory environment and growing demand for satellite services14:42 – AQMAAR’s relationship with the Egyptian Space Agency and commercializing national infrastructure16:07 – Egypt’s aerospace engineering talent base and barriers to private-sector employment18:50 – Fundraising constraints and experiments with space advertising, asteroid mining, remote sensing, and IoT24:53 – Shifting downstream to agricultural remote sensing, customer demand, and early revenue28:32 – Technical architecture of AQMAAR’s proposed in-space advertising constellation33:35 – Launch strategy, Rocket Lab, SpaceX, India, China, and access-to-orbit considerations36:35 – Regulatory barriers to private satellite ownership, spectrum access, and ITU filings38:51 – Ten-year outlook for Egyptian communications and remote-sensing constellations40:57 – Closing thoughts on the future of Egypt and Africa’s space ecosystem This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Principal Aidan Daoussis sits down with Shishir Bankapur, CEO of Helogen, to discuss manufacturing biomaterials in space. Helogen is developing autonomous orbital manufacturing infrastructure for high-value biomaterials that can benefit from microgravity production. The company is scaling its platform through a series of missions while pursuing applications including orthopedic scaffolds, biopolymers, and other regulated medical materials.00:00 – Introduction and Helogen’s vision for manufacturing in space03:23 – Bankapur’s background in chemical engineering, pharma, startups, and company building06:13 – Origins of Helogen and using microgravity to accelerate biological research10:03 – Helogen as an orbital industrial infrastructure and manufacturing company13:46 – Biomaterials that can benefit from microgravity manufacturing16:19 – Scaling from small-volume missions toward larger orbital production capacity19:12 – Building a portfolio of high-value materials rather than a single product22:43 – Long-term vision for moving industrial activity off Earth24:05 – Acquisition of Velen Space and expansion into India’s growing space ecosystem28:14 – Managing launch, station, and infrastructure dependencies32:33 – Common misconceptions about Helogen and its focus on manufacturing over research36:20 – What an autonomous space factory physically looks like39:09 – Why biomanufacturing in space is technically difficult43:15 – Economics of orbital manufacturing and dedicated launch44:44 – Closing perspective: space-made materials moving from science fiction to commercial infrastructure This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Principal Aidan Daoussis and Venture Partner Aaron Mitchell sit down with Ian Vorbach, Chief Revenue Officer at Portal Space Systems, to discuss solar-thermal propulsion and the future of high-mobility spacecraft. Portal is developing Supernova, a spacecraft built around deployable solar concentrators, a 3D-printed heat-exchanger thruster, ammonia propellant, and thermal energy storage to combine high thrust with high delta-V. The conversation covers the origins of the technology, advances in additive manufacturing, tactically responsive space, rapid movement between LEO, MEO, and GEO, cislunar logistics, potential paths toward nuclear thermal propulsion, and Portal’s transition from ground testing to flight and scaled manufacturing.00:00 – Introduction to Portal Space Systems and solar-thermal propulsion01:39 – Portal’s founding story and the backgrounds of Ian Vorbach, Prashaanth Ravindran, and Jeff Thornburg05:35 – How solar-thermal propulsion compares with chemical and electric propulsion08:50 – Ammonia as a storable propellant and the tradeoff between performance and long-duration operations13:05 – Why additive manufacturing and high-temperature alloys make solar-thermal propulsion possible today16:38 – Building the propulsion system and spacecraft as an integrated architecture17:37 – Rapid mobility across LEO, MEO, GEO, and potentially cislunar space19:30 – Tactically responsive space, lunar logistics, and the future space transportation network22:51 – Solar intensity, operating farther from Earth, and the limits of solar-thermal propulsion24:17 – Nuclear thermal propulsion and Portal’s potential path toward other thermal energy sources25:45 – Selling a novel propulsion technology, ground testing, and building customer trust with data28:32 – Aaron Mitchell’s propulsion background and the economics of in-space transportation29:24 – Lunar ISRU, ammonia refueling, and the emerging cislunar economy32:13 – Supernova spacecraft scale, deployable concentrators, and proliferated architectures35:32 – Hundreds of newtons of thrust, high delta-V, and LEO-to-GEO transit in roughly a day37:11 – Laser propulsion, energy transfer, and other advanced propulsion concepts39:27 – Thermal energy storage and maintaining propulsion capability during eclipse43:13 – Power beaming, space-based data centers, and staying focused on near-term customers45:12 – The military requirement for order-of-magnitude improvements in spacecraft maneuverability47:40 – Building the commercial flywheel for a sustained space economy49:38 – Portal’s $50 million Series A, Mininova demonstration, Starburst launch, and manufacturing scale-up This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Principal Aidan Daoussis sits down with Ethan Barajas, Co-founder & CEO, and Jamie Palmer, Co-founder & CTO of Icarus Robotics, to discuss space robotics. Icarus is developing robotic systems designed for manipulation and labor in microgravity, beginning with a fan-propelled, dual-arm robot for use inside crewed spacecraft. The company plans to use teleoperation and on-orbit data collection to build increasingly autonomous capabilities for manufacturing, servicing, logistics, and infrastructure assembly in space.00:00 – Why space needs robotic labor and the limits of astronaut crew time01:48 – Founder backgrounds and the origin of Icarus Robotics06:05 – Microgravity robot design, mobility, and dual-arm manipulation07:17 – Embodied AI, robot learning, and handling unstructured objects in space10:51 – Why terrestrial robotic hardware and software cannot simply be moved to orbit14:04 – ISS deployment, teleoperation, training data, and the path toward autonomy18:19 – Future applications in satellite servicing, logistics, manufacturing, and lunar operations20:44 – Competitive landscape, SpaceX, and Icarus’s first-mover strategy22:51 – National security applications and commercial versus defense demand27:57 – How robotics could enable rather than replace human activity in space29:49 – Launch constraints and the need for persistent in-space logistics infrastructure35:05 – Lunar water, nuclear power, ISRU, and robotic infrastructure for sustained exploration38:21 – Von Neumann probes, orbital reuse, and the possibility of self-replicating space systems47:00 – Near-term roadmap: parabolic testing, ISS operations, and eventual EVA robotics48:33 – Closing vision for robots as the workforce that helps build the space economy This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Principal Aidan Daoussis sits down with Ben Gringeri, SVP of Finance at Foundation, to discuss humanoid robotics for industry and defense. Foundation is developing heavy-duty humanoid robots for industrial and defense environments, with high-strength actuators, tendon-driven hands, and an IP67-rated platform. The discussion covers manufacturing labor, defense logistics, AI, scaling, and potential future deployment in space.00:00 – Introduction and Foundation’s industrial and defense focus04:37 – Foundation’s origin story and the case for the humanoid form factor07:22 – Industrial applications, strength, dexterity, and 23-degree-of-freedom hands10:01 – Tendon-driven hand architecture and biomimetic design11:52 – Humanoid robotics for the Moon, Mars, Titan, and future space infrastructure14:23 – U.S.-China competition in humanoid robotics and manufacturing17:54 – Domestic manufacturing, supply chains, and national security23:01 – Economics of industrial robots versus household humanoids26:27 – Adapting a common humanoid platform across industry, defense, and space27:33 – Addressable market, labor shortages, and automation economics29:35 – Manufacturing scale, fundraising, and the path to tens of thousands of robots32:16 – AI architecture, world models, training data, and human-in-the-loop defense applications34:39 – Defense testing, international interest, and Foundation’s industrial deployments38:08 – Phantom Mark II, manufacturability, modularity, and robots building robots40:18 – The humanoid arms race, workforce impacts, and U.S. competitiveness44:49 – Lethal-force policy, testing, durability, and harsh-environment performance49:23 – Commercial focus, government funding, and Foundation’s defense strategy53:10 – Closing perspective on humanoids as tools for building, working, and keeping people safe This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Principal Aidan Daoussis sits down with Eduardo Torrealba, Co-founder & CEO of Lumafield, to discuss AI-powered industrial CT. Lumafield combines 3D X-ray imaging, software, and artificial intelligence to inspect manufactured products and identify internal defects without destructive testing. Its systems are designed to give engineers better quality data across product development and production while enabling tighter feedback loops for increasingly automated factories.00:00 – Introduction and overview of Lumafield’s industrial CT and manufacturing intelligence platform02:22 – Torrealba’s mechanical engineering background and the origins of Lumafield05:21 – Traditional inspection methods, destructive testing, and the value of seeing inside finished products08:17 – AI-based anomaly detection, defect diagnosis, and automated quality decisions10:21 – CT scan size, resolution, Neptune and Triton systems, and applications in medical devices and industry14:42 – Integrating CT into production lines, 100% inspection, batch sampling, and micron-scale resolution16:28 – U.S. reindustrialization, robotics, automation, and the need for closed-loop quality control19:08 – Using inspection data across the full product lifecycle from development through contract manufacturing23:19 – Product failures, recalls, unknown defect modes, and lessons from semiconductor manufacturing26:20 – Specialization, vertical integration, and Lumafield’s role within increasingly advanced manufacturing ecosystems31:35 – Lumafield’s business model and the economics of inspection based on production value at risk34:41 – Product durability, modern quality, repairability, and tradeoffs between longevity, cost, and performance41:36 – The continued role of human labor in manufacturing and the path toward increasingly autonomous factories45:46 – Supply-chain resilience, U.S. manufacturing capacity, and the overlooked middle tier of industrial products49:35 – Closing thoughts on the future of manufacturing and Lumafield’s long-term opportunity This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Principal Emerson Garnett sits down with Solange Massa, Founder & CEO of Ecoatoms, to discuss automated payloads for in-space manufacturing. Ecoatoms develops standardized payload infrastructure, onboard computers, and automated chemical and biological systems for microgravity experiments and manufacturing. Its architecture is designed to reduce integration time and support reusable payload platforms across capsules, commercial space stations, and future lunar and Martian operations.00:00 – Solange Massa’s background and the founding of Ecoatoms02:15 – First NASA program and chemical coating payloads in microgravity03:13 – How Ecoatoms payloads differ from traditional satellites04:22 – Edge computing, sensor integration, and autonomous experimentation06:11 – ECOS habitats and customers for space-based manufacturing08:27 – Standardizing payload computers and universal interfaces10:32 – Early missions, redundant payloads, and lessons from flight13:22 – Microgravity and vacuum as tools for materials and biomedical research15:23 – Biosensors, medical products, and compelling manufacturing applications17:01 – Manufacturing for Earth versus manufacturing for space exploration18:15 – Leto, capsule missions, and the challenges of power, data, and reentry20:18 – Hermes, automated DNA extraction, and reducing astronaut workload22:02 – Automation, onboard decision-making, machine learning, and cybersecurity26:15 – Upcoming missions and the Anima payload computer27:30 – Anima as a standardized integration layer for autonomous payloads29:31 – Customer engagement, payload development, and managing mission risk33:49 – Business model, falling hardware costs, AI, and platform standardization36:01 – Working with NASA, industry, and the changing role of academia38:20 – Company culture, rapid iteration, and simplifying engineering41:30 – Lunar and Mars product roadmap and reusable space infrastructure42:55 – Ecoatoms’ long-term vision and expansion beyond the payload layer44:11 – How customers define new payload capabilities and mission requirements47:01 – Upcoming lunar projects, founder advice, and closing remarks This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Principal Emerson Garnett sits down with Cailabs Co-Founder & CEO Jean-François Morizur to discuss optical communications and ground infrastructure. Cailabs develops optical ground stations using its multi-plane light conversion technology to mitigate atmospheric turbulence and enable high-bandwidth laser communications between satellites and Earth. Jean-François discusses the company’s origins, growing demand for optical communications across defense and Earth observation, scaling production of its TILBA ground stations, transportable systems, interoperability, and the role optical communications could play alongside traditional RF infrastructure.00:00 – Origins of Cailabs and multi-plane light conversionJean-François describes how technology developed during his PhD led to a patent for multi-plane light conversion, or MPLC. After leaving academia for BCG, interest from the telecom industry brought him back to commercialize the technology and eventually build Cailabs.01:52 – Solving atmospheric turbulence for optical communicationsJean-François explains why satellite-to-ground laser communications are more difficult than satellite-to-satellite links. Atmospheric turbulence distorts light traveling through the atmosphere, and Cailabs uses its MPLC technology to mitigate those effects within its optical ground stations.04:23 – Demonstrating product-market pullCailabs demonstrated optical links with Kepler satellites using SDA-compatible terminals at a time when reliable optical space-to-ground communications remained a challenge. Jean-François describes these demonstrations as an important validation of the company’s technology and a driver of subsequent customer engagement.07:02 – Lessons from BCG and the importance of execution speedJean-François discusses how his time at BCG changed his approach to building a technology company, particularly the importance of making good decisions quickly. He also explains why developing operational optical ground infrastructure requires a dedicated engineering organization rather than a small experimental team.11:03 – Demand from defense, sovereign space, and Earth observationDifferent customers are adopting optical communications for different reasons. Earth observation operators need to move increasingly large datasets to the ground faster, while defense users value optical systems for their different detection, interception, and jamming characteristics compared with RF.14:43 – How optical communications fit into existing SATCOM procurementJean-François explains that optical and RF ground communications are increasingly being considered within the same procurement processes. Because many SATCOM organizations are built around RF expertise, Cailabs also spends time educating customers about optical systems and their current level of technical maturity.18:05 – TILBA and scaling ground-station productionCailabs’ TILBA platform integrates the company’s technology into a complete optical ground station. Jean-François discusses plans to scale production toward 50 systems per year and the manufacturing, supply-chain, quality, and design changes required to move from low-volume production to industrial scale.21:02 – Interoperability and distributed ground networksGround infrastructure can accommodate differences in modems and customer standards more easily than hardware already deployed in orbit. Jean-François discusses increasing convergence around interoperable specifications and the tradeoffs between ground-station performance, cost, location, and geographic proliferation.25:06 – Deployment timelines and transportable ground stationsCailabs can target ground-station deployments in less than nine months, with site selection and permitting increasingly becoming important constraints. Transportable ground stations can reduce those limitations while also creating additional applications for defense customers.27:17 – High-bandwidth downlinks for Earth observationJean-François explains how optical links operating at 10 Gbps, with potential upgrades to 100 Gbps, can allow Earth observation operators to downlink substantially more imagery during a single pass. Faster downlinks can reduce the delay between collection and analysis and may change how satellites are designed to collect and store data.29:57 – AI, edge processing, and growing bandwidth requirementsAlthough onboard processing could reduce some downlink requirements, Cailabs is seeing customers—particularly within the intelligence community—continue to demand access to raw data. Jean-François argues that AI and increasingly data-intensive space systems may therefore increase rather than decrease demand for high-capacity optical links.31:24 – Expanding manufacturing in Europe and the United StatesCailabs currently has capacity to manufacture approximately 12 optical ground stations per year, with its new facility designed to support as many as 50. Jean-François also discusses plans to establish U.S. manufacturing capability to address sovereignty and domestic-production requirements from American customers.33:27 – When optical communications become routine SATCOM infrastructureJean-François expects optical communications to become increasingly routine as customers gain operational experience with the technology. Defense applications may adopt optical systems more quickly where low probability of detection and interception or resistance to jamming are important, while commercial adoption will also depend on bandwidth economics and access to RF spectrum.36:30 – Ground-to-ground optical communicationsCailabs is also applying its atmospheric turbulence technology to terrestrial line-of-sight communications. The company has demonstrated links over distances of approximately 40 kilometers, with potential defense applications including communications in radio silence as well as ship-to-ship and ship-to-shore links.39:27 – Optical communications as strategic and commercial infrastructureJean-François expects optical communications to develop similarly to RF, with some systems serving national-security applications and others becoming broadly available commercial infrastructure. Proliferated optical ground stations could also provide NATO countries with additional communications resilience if traditional links are disrupted or jammed.41:41 – Cailabs’ next phase of expansionJean-François previews upcoming developments around transportable systems, the opening of Cailabs’ new production facility, and plans for U.S. manufacturing. He describes the optical ground market as entering a period in which multiple developments are beginning to accelerate simultaneously.43:17 – China, NATO, and the geopolitics of optical communicationsThe conversation closes with the strategic importance of optical communications. Jean-François discusses ongoing Chinese development in the field and argues that the United States and Europe need to work together to maintain strong optical communications capabilities across NATO. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Principal Aidan Daoussis sits down with Venkat Pillay, Founder & CEO of LatConnect60, to discuss Earth observation, AI, and Short-Wave Infrared (SWIR). LatConnect60 combines downstream AI analytics with its planned Source Earth Observation Constellation, focused on high-resolution shortwave infrared imagery. The company is targeting applications across agriculture, emissions monitoring, defense, natural disasters, and other markets where SWIR can fill gaps in existing satellite data.00:00 – Introduction and overview of LatConnect60’s evolution from downstream AI to its own satellite constellation02:37 – Why advances in AI and Earth observation are converging now05:21 – Comparing multispectral, radar, and infrared Earth observation data07:31 – How commercial and government customers may use satellite data with AI and LLMs10:28 – Differentiating satellite hardware through spatial resolution, spectral capability, and higher-throughput buses13:01 – Future Earth observation bottlenecks: power, thermal management, deployable optics, and optical links15:23 – On-orbit computing versus high-bandwidth optical communications18:37 – Customer markets across agriculture, defense, carbon monitoring, oil and gas, and mining22:18 – Building and scaling a space company from Western Australia25:58 – LatConnect60’s differentiation through shortwave infrared data and AI analytics29:30 – Wildfire, biomass moisture, flood monitoring, and multi-sensor data fusion33:40 – Why owning satellites provides greater control over tasking, sensor performance, and data quality36:58 – Non-Earth imaging, space domain awareness, and a potential “tripwire” constellation43:33 – Launch constraints, SpaceX rideshare availability, and diversification through Skyroot and Gilmour Space48:37 – Launch risk, insurance, and the case for moving quickly with emerging launch providers51:54 – Closing thoughts on making Earth observation data seamlessly accessible through AI-driven interfaces This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Principal Emerson Garnett sits down with Halen Mattison, Co-Founder & CEO of General Galactic, to discuss water-powered orbital logistics. General Galactic is developing the Genesis water-based multimode propulsion system and the Selden spacecraft to provide high-delta-V orbital mobility without toxic propellants. Its roadmap extends from commercial orbit raising and defense logistics to refueling networks supplied by lunar and Martian resources.Timestamped Overview00:00 – Introduction, Mattison’s SpaceX background, and the energy challenge in space02:48 – General Galactic’s vision for in-space logistics and energy infrastructure04:19 – Genesis water-based multimode propulsion and alternatives to hydrazine07:14 – Water electrolysis and the technical basis for higher-performance propulsion09:33 – Selden spacecraft architecture, high delta-V, and rapid launch readiness12:01 – Lower-cost access to GEO and other high-energy destinations13:34 – Near-term commercial and defense missions versus lunar and Martian infrastructure15:58 – How greater spacecraft mobility could change mission design and space strategy18:31 – Full-stack operations, orbital refueling depots, and a cislunar transportation network22:05 – Sabatier reactors, methane production, and resource utilization on Mars23:28 – Roadmap from initial demonstrations to a broader orbital economy25:11 – Flight heritage, rapid iteration, risk reduction, and operational scaling26:45 – Constellation growth and platforms supporting Space Force operations28:07 – Competitive differentiation, water propulsion adoption, and market defensibility31:04 – Nuclear thermal and nuclear electric propulsion within the long-term roadmap33:45 – Customer integration, standardized interfaces, pricing, and upcoming milestones37:55 – Closing remarks and where to follow General Galactic This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Principal Aidan Daoussis sits down with Aaron Mitchell, Venture Partner at Balerion Space Ventures, to discuss his path from engineering to venture. Aaron traces his career from propulsion engineering at NASA through early roles at Momentus and Impulse Space, where he led product management. The conversation examines startup execution, technical diligence, space communications and power, advanced propulsion, and the next generation of aerospace founders.Timestamped Overview00:00 – Introduction and Aaron’s transition from engineering to venture capital03:10 – Product management, engineering leadership, and the pace of startup execution05:22 – Evaluating an early-stage company as both an employee and an investor07:03 – Joining Impulse Space during its earliest period of rapid growth08:23 – Impulse’s first facility and the incremental development of the Saiph thruster10:38 – Working with Tom Mueller and the Mojave amateur-rocketry ecosystem13:18 – Amateur rocketry, propulsion scale, and the transition from solid to liquid engines17:05 – How spacecraft propulsion differs from launch propulsion19:17 – Tom Mueller’s engineering process and the development of the Deneb engine23:35 – Moving to the investor side and asking whether a problem is worth solving25:34 – Why communications remains the dominant commercial space market31:28 – Space-based solar power and the need for additional economic pillars in orbit33:12 – Nuclear propulsion, political commitment, and competing technology pathways37:48 – SpaceX alumni, employee liquidity, and a potential new wave of space startups41:47 – Space technology as an emerging venture category and closing remarks This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Principal Aidan Daoussis sits down with Daniel Pérez Grande, CEO & Co-Founder of IENAI Space, to discuss small-satellite mobility. IENAI Space is developing modular electrospray thrusters for small spacecraft, alongside software for mission design and propulsion-system selection. Its integrated approach extends from preflight analysis through automated orbital maneuvering, with the goal of reducing propellant mass and simplifying satellite operations.Timestamped Overview00:00 – Introduction and IENAI Space’s end-to-end mobility model02:46 – Founder backgrounds and the propulsion gap for small satellites06:05 – Athena’s modular electrospray architecture07:41 – Athena Pico, Nano, and Micro product specifications11:29 – Electric propulsion compared with chemical propulsion15:20 – The satellite market’s shift toward larger spacecraft20:05 – Constellations, VLEO operations, and asteroid applications24:33 – High-power, nuclear-electric, and nuclear-thermal propulsion30:14 – Building a space company in Spain and European funding constraints33:24 – Company growth, test infrastructure, and orbital demonstrations37:29 – 360 mission-analysis software and propulsion trade studies43:00 – Orbital automation, digital twins, and autonomous maneuver planning46:13 – Mobility, collision avoidance, debris, and future regulation48:46 – Closing perspective on reliable, low-burden propulsion systems This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Principal Aidan Daoussis sits down with Brett Hill, Founder & CEO of Praetorian Aeronautics, to discuss autonomous counter-drone defense. The company is developing Arrow and Dagger autonomous interceptors, supported by AI-enabled battle-management software, to counter aerial and maritime autonomous threats. Its systems are designed to provide scalable, longer-range defense against saturation attacks that can overwhelm electronic warfare, guns, directed-energy weapons, and conventional missiles.Timestamped Overview00:00 – Introduction and Praetorian’s counter-autonomy mission04:07 – Arrow and Dagger interceptor architecture, range, and manufacturing06:29 – Demand across Ukraine, the Middle East, and the Indo-Pacific10:28 – Electronic warfare, directed energy, guns, missiles, and kinetic interceptors16:44 – Drone detection, radar limitations, and AI-supported decision-making20:46 – Evolving Shahed tactics, autonomous threats, and faster interceptors25:11 – Hypersonic defense and the concept of aerial minefields30:00 – Counter-autonomy requirements for a Pacific conflict33:37 – Maritime motherships, distributed sensing, and long-range defense36:21 – Australia’s defense technology ecosystem and AUKUS cooperation41:04 – The future roles of defense startups and traditional primes46:48 – Brett’s aerospace career and the founding of Praetorian48:57 – Company growth, autonomous interception milestones, and Ukraine deployment51:53 – Why AI, autonomy, and scalable manufacturing are becoming essential This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Principal Aidan Daoussis sits down with Tom Barton, Co-Founder & CEO of Antaris, to discuss software-defined satellite systems. Antaris provides a software- and AI-based platform for designing, simulating, manufacturing, and operating satellite constellations. Its full-mission virtualization tools model spacecraft, ground infrastructure, software, and mission operations before deployment.Timestamped Overview00:00 – Introduction and overview of the Antaris platform01:14 – Barton’s background in open-source software, cloud infrastructure, and Planet Labs04:02 – Founding Antaris to bring software abstraction and interoperability to space systems05:01 – Platform capabilities spanning design, simulation, command and control, and flight software07:03 – Limitations of legacy flight-software architectures and the SatOS approach09:09 – Full-mission virtualization for government agencies and defense primes13:08 – Reducing mission risk, development time, and human operational workload15:13 – Edge AI, onboard processing, and software-defined satellite missions17:14 – Multimodal Earth observation and delivering actionable intelligence18:36 – Driving adoption without displacing incumbent spacecraft systems20:29 – Sovereign space programs and localized satellite manufacturing23:26 – How space software differs from conventional B2B SaaS25:50 – Automated constellation operations and human oversight of exceptions28:48 – Antaris’ defensibility through abstraction, synthetic telemetry, and specialized AI31:18 – Customer demand in Japan and the value of end-to-end simulation33:27 – Venture-capital dynamics and the shift from vertical integration toward interoperability38:17 – Quantum key distribution, optical communications, and future satellite demand44:03 – Common simulation surprises, including power, thermal, and ground-network constraints46:44 – Marquee customer acquisition, future milestones, and Antaris’ multimodal ISR strategy49:40 – Closing takeaway and conclusion This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Principal Aidan Daoussis sits down with Matt Gialich, Co-Founder & CEO of AstroForge, to discuss commercial asteroid mining. AstroForge is developing compact deep-space spacecraft designed to reach metal-rich near-Earth asteroids, extract platinum-group metals, and return refined material to Earth. The company seeks to make asteroid mining economically viable through rideshare launches, autonomous operations, and lower-cost commercial mission architectures.Timestamped Overview00:00 – AstroForge’s mission and the economics of mining near-Earth asteroids02:22 – Gialich’s background in defense engineering, Virgin Orbit, Bird, and deep-space mission development05:48 – The history of asteroid mining and why lower launch costs have changed its feasibility08:35 – The Odin mission, rapid spacecraft development, and lessons from AstroForge’s first deep-space attempt11:47 – Magnetic asteroid docking, target selection, and the planned refining process16:09 – Terrestrial commodity sales, planetary defense, and other applications for deep-space spacecraft19:31 – Why asteroid mining is better suited to autonomous systems than crewed missions22:27 – Asteroid classifications and the industrial uses of platinum-group metals26:36 – The estimated population and distribution of accessible metal-rich asteroids30:30 – Distinguishing theoretical resource value from economically recoverable ore32:53 – Competition from China, AstroForge’s technical moat, and potential future entrants35:52 – Propulsion, space-domain awareness, and the value of simple spacecraft architectures39:08 – Why lunar resources may be less economically attractive than intact metal asteroids41:47 – Commodity demand, price risk, supply elasticity, and the potential impact of returned material45:32 – Critical-mineral geopolitics, fundraising, team building, and milestone-driven mission development52:39 – Commercializing proven asteroid-sampling capabilities and the broader implications of asteroid mining This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Principal Aidan Daoussis sits down with David Moodie, Founder & CEO of Foundry Lab, to discuss digitized metal casting and reshoring. Foundry Lab is developing automated casting systems that control molten-metal viscosity to produce thin-walled, high-toughness aluminum components with limited specialized labor. The company aims to reduce long casting lead times, support on-demand production and rebuild distributed manufacturing capacity in the United States.Timestamped Overview00:00 – Introduction and overview of Foundry Lab’s metal-casting technology01:30 – Digitizing an ancient manufacturing process and reducing dependence on specialized foundry knowledge03:35 – Automated casting, viscosity control and production of complex thin-walled components06:25 – Casting lead times, skilled-worker shortages and supply-chain constraints in aerospace and defense09:15 – Mold design, process variability and how SpaceX, Tesla and other manufacturers developed internal casting capabilities12:59 – Foundry Lab’s origins in New Zealand and the decision to establish operations in Texas16:09 – Lessons from building a hardware-intensive startup and investing deeply in technical development20:09 – Foundry Lab’s technical moat and its collaborative design-for-casting process with customers23:17 – Entering the U.S. defense market, ITAR requirements and independent verification of material performance27:03 – The relationship between software and hardware in rebuilding competitive Western manufacturing31:15 – Industrial-base dependencies spanning mining, alloy production, insulation, vacuum equipment and other foundational suppliers34:34 – Automation, machine vision, industrial power constraints and investment in manufacturing infrastructure38:30 – Support from Peter Beck, Founders Fund and Foundry Lab’s New Zealand investors43:31 – Scaling through a distributed casting-as-a-service network and potentially deployed defense foundries49:04 – New-product manufacturing, on-demand sustainment, minimum orders of one and casting from the start This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Principal Aidan Daoussis and Venture Partner Aaron Mitchell sit down with Raj Kulshrestha, Co-Founder & CEO of Space Machines Company, to discuss space security. The company is developing autonomous software and highly maneuverable spacecraft for threat detection, close inspection, and on-orbit response. Its architecture is designed to protect increasingly valuable commercial and national-security infrastructure in orbit.Timestamped Overview00:00 – Introduction and Space Machines Company overview03:13 – Moving from space situational awareness to threat inference and response07:08 – Company milestones and the development of low-cost maneuverable spacecraft10:13 – Australia’s space ecosystem and partnership with HEO14:25 – Global customers and expansion beyond the Australian market15:23 – Propulsion, orbital positioning, and rapid-response architectures18:49 – Tracking maneuvering satellites and assessing intent at machine speed21:11 – Counterspace threats and commercial protection of orbital infrastructure23:38 – Hardware, software, propulsion, and supply-chain challenges28:17 – Building a data flywheel through deployed spacecraft and commercial satellites29:48 – Upcoming RPO and national-security missions32:49 – Extending operations to GEO and cislunar space36:23 – Golden Dome, allied architectures, and ITAR-free systems40:08 – Opportunities for greater US-Australia collaboration42:40 – Fundraising across different investor ecosystems45:27 – Operating norms in a future with large numbers of maneuverable satellites49:22 – Policy, regulation, and the development of responsible proximity operations53:12 – Deterrence, asymmetric advantage, and distributed orbital defense56:21 – Closing remarks This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Principal Aidan Daoussis and Venture Partner Aaron Mitchell sit down with Jasper Deprez, CEO of Terraspark, to discuss space-based solar power. Terraspark is developing space-based solar power systems that harvest energy in orbit and transmit it to Earth using radio frequency. The company is focused first on remote, off-grid customers where energy availability is limited by diesel logistics, weather-dependent renewables, and grid constraints.Timestamped Overview00:00 – Introduction to Terraspark and space-based solar power02:14 – Why Terraspark is starting with lower Earth orbit rather than large GEO architectures04:01 – Off-grid mining, islands, and remote sites as initial energy customers05:36 – Ground infrastructure and the role of rectennas in receiving radio frequency energy06:20 – History of wireless power transfer and research at Kyoto University08:37 – Building a European space and energy company from Luxembourg09:24 – Terraspark’s team, execution cadence, and early hardware progress12:14 – Customer selection, LCOE, and premium markets where reliability matters more than low-cost energy18:01 – Power capacity, constellation sizing, and working with utilities as renewable developers21:26 – LEO as a backup-energy layer and future MEO systems for larger-scale power delivery23:01 – Orbit selection, including equatorial and sun-synchronous options26:53 – 2027 space-to-space wireless power demonstration and 2028 space-to-Earth proof of principle30:48 – Terrestrial wireless power use cases in ports, logistics hubs, and mining operations33:13 – Radio frequency versus lasers and reflectors for different power-beaming applications36:05 – Space-to-space power transfer and why lasers may fit existing satellite architectures38:54 – Public perception, safety communication, and the “seven Cs” framework42:04 – Planned wireless-powered concert demonstration in Portugal47:04 – Rectenna land use, dual-use sites, and applications for island nations49:14 – Competitive landscape across space-based solar, infrastructure, and energy markets52:48 – Long-term goal of making space-based solar power a routine part of energy infrastructure This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Principal Aidan Daoussis sits down with Joe Musselman, Founder of Union Technologies, to discuss factories as a stockpile. Union Technologies is developing software-defined factories for national security manufacturing. The company is focused on increasing industrial production capacity for critical systems such as 155mm shell bodies by making factories faster to build, replicate, and operate.Timestamped Overview00:00 – Introduction and overview of Union Technologies00:50 – Joe Musselman’s family background, military service, and manufacturing roots03:00 – Bravo Victor Venture Capital’s national security thesis and the origin of Union05:00 – Why factories became the bottleneck across munitions, rare earths, nuclear, and energy systems07:30 – Transition from investor to operator and building the Union founding team09:30 – Factory-as-product model and the concept of factories as a stockpile12:00 – Union’s first factory and the decision to begin with 155mm shell bodies14:15 – Building a factory faster and at lower cost than traditional defense manufacturing models15:40 – Production goals, line throughput, and 155mm manufacturing capacity18:50 – Why 155mm rounds matter in Ukraine, Taiwan, and broader deterrence planning22:30 – Raising a large seed round and explaining industrial scale to venture investors25:00 – Financing capital-intensive hard-tech companies and building blended capital stacks27:30 – Framing the factory as a moat rather than a liability29:50 – Union’s software stack: Fabric, Faction, Overmind, and Overhaul32:30 – Embedding software inside the factory to command production, traceability, and optimization36:00 – How a Union factory differs from a traditional prime contractor facility41:00 – Lessons from standing up Factory One: teams, leadership, and culture46:00 – Mutually Assured Production and manufacturing as a deterrence doctrine49:00 – Builders as peacekeepers and the role of industrial capacity in avoiding future conflict52:50 – Closing remarks and invitation to connect with Union and Balerion This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Principal Aidan Daoussis sits down with Perttu Yli-Opas, Co-founder & CTO of Aurora Propulsion, to discuss small-sat propulsion. Aurora Propulsion is developing compact in-space mobility systems, including water-based resistojets and plasma brake deorbiting technology. The company is focused on propulsion architectures for CubeSats and small satellites as operators face growing needs for orbit transfer, collision avoidance, proximity operations, and end-of-life disposal.Timestamped Overview00:00 – Introduction to Aurora Propulsion and the need for small satellite mobility02:17 – Founding story, Finland’s miniature manufacturing expertise, and the CubeSat propulsion gap06:16 – Water-based resistojet propulsion and plasma brake deorbiting technology08:11 – Combining propulsion and debris mitigation into integrated mobility solutions10:15 – CubeSat and small satellite use cases, regulation, and scaling toward 100 kg platforms12:04 – How low-thrust propulsion works in space compared with terrestrial expectations13:58 – Customer demand from regulation, unique missions, and satellite separation demonstrations15:58 – Common missions for small satellites, including communications, Earth observation, science, and quantum key distribution17:45 – Customer base across ESA, startups, universities, research organizations, and government agencies18:40 – Flight heritage, launched thrusters, plasma brake milestones, and upcoming in-orbit data19:54 – Launch availability, SpaceX rideshare dynamics, and Europe’s push for local launch capability23:09 – Performance tradeoffs between chemical propulsion, electric propulsion, and Aurora’s middle-ground approach26:26 – Finland’s growing space ecosystem and the rise of companies such as ICEYE, ReOrbit, and Kuva Space28:58 – Differences between building space companies in Europe and the United States31:55 – European defense funding, ESA/EU shifts, and the changing investor landscape33:35 – Scaling production, manufacturability, and preparing for higher-volume orders35:54 – Multi-thruster configurations, redundancy, and proximity operations architectures37:05 – Future markets in defense, distributed computing platforms, and small-spacecraft constellations39:12 – Building for future regulation and maneuverability requirements41:03 – Why propulsion systems take years to develop, qualify, and demonstrate in orbit44:25 – Modular product architecture, 10x thruster scaling, and shorter delivery timelines47:04 – Investor questions around quality processes, new space development, and scalable production49:49 – Closing thoughts on the convergence of new space and old space operating models This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Principal Aidan Daoussis sits down with James Cooper, COO of Anatra, to discuss autonomous cargo aircraft. Anatra is developing fixed-wing autonomous aircraft for contested logistics, with runway-to-runway and amphibious variants designed to move cargo over long distances. The company is focused on payload delivery for defense, disaster response, remote communities, and future commercial logistics networks.Timestamped Overview00:00 – Introduction to Anatra and the contested logistics problem02:11 – Fixed-wing aircraft design and amphibious capability03:39 – Indo-Pacific island resupply and runway-to-runway mission examples06:08 – James Cooper’s background as a Marine Corps F/A-18 pilot and technology executive08:55 – Why autonomy is becoming more practical for logistics missions10:54 – Payload, range, and likely cargo use cases13:03 – Scaling autonomous logistics through technology, regulation, and manufacturing15:24 – Government demand, deterrence, and defense manufacturing capacity17:40 – Product status, autonomy testing, and development timelines19:00 – Business model, aircraft sales, maintenance, and government operation19:54 – Differentiation from VTOL, battery-electric, and smaller drone systems22:24 – Modular payloads, ISR, electronic warfare, and other possible mission sets24:47 – Payload delivery methods, unloading, and future airdrop concepts26:10 – Price point, attritability, and cost-effectiveness for defense customers28:00 – Commercial market timing and the path beyond defense-first adoption30:32 – Hub-and-spoke operations, pilot-on-the-loop control, and mesh networks32:52 – Disaster relief, humanitarian aid, and remote community logistics436:43 – Autonomous flight intelligence, weather response, and landing decisions40:12 – Recent milestones and upcoming prototype development goals41:34 – Anatra’s autonomy stack and potential software licensing43:32 – AI, simulation, additive manufacturing, and faster aircraft development cycles45:25 – Swarm operations, theater-scale logistics, and small business use cases46:49 – Lessons from building a dual-use defense technology company48:20 – Closing thoughts on defense tech, industrial base rebuilding, and dual-use applications This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Principal Emerson Garnett sits down with Justin Zipkin, Co-Founder & CEO of Volta Space, to discuss lunar power infrastructure. Volta Space is developing LightGrid, a satellite-based system designed to beam power from lunar orbit to assets on the surface. The company is addressing the 14-day lunar night problem by enabling landers, rovers, and sensors to operate through darkness and in permanently shadowed regions.Timestamped Overview00:00 – Introduction to Volta Space and the lunar energy grid00:50 – Origin story, customer discovery, and NASA’s Watts on the Moon challenge02:16 – Lunar night, temperature extremes, and why missions struggle beyond 14 days03:38 – Powering permanently shadowed regions and increasing rover operating time05:10 – Artemis infrastructure priorities, CLPS cadence, and the unresolved power gap09:57 – LightGrid architecture, laser power beaming, and photovoltaic receivers13:52 – Orbital energy collection, laser transmission, and constellation scalability16:09 – Targeting safety, receiver design, and surface mass tradeoffs21:00 – Terrestrial field demonstrations and lessons from 850-meter power beaming tests23:05 – Blue Ghost 2 light port test and DCubed 400-watt laser demonstration25:01 – Roadmap to operational lunar power delivery and reliability milestones26:54 – Civil, defense, and international interest in lunar power infrastructure29:41 – Canadian Space Agency architecture study and lunar power-system trade space31:29 – Earth applications, power over fiber, and Arctic drone operations35:56 – Pricing, reservations, customer planning, and lunar utility economics40:18 – Lunar permanence, second-order economic effects, and coexistence with fission and solar47:58 – Customer and investor engagement and closing perspective This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Principal Aidan Daoussis sits down with Julian Rothenbuchner, Co-founder & CEO of Tumbleweed, to discuss microgravity research. Tumbleweed is developing a lower-friction way for first-time space users to run microgravity experiments through standardized payload containers and a dedicated orbital platform. The company is focused on reducing certification, integration, and operational barriers so microgravity can be used by biopharma, semiconductor, materials, and other industrial customers.Timestamped Overview00:00 – Introduction and overview of Tumbleweed’s microgravity access model03:17 – Concrete applications in pharmaceuticals, clinical research, semiconductors, and advanced materials06:54 – How Tumbleweed’s Pod and OASIS systems support payload development and orbital operations09:05 – Maiden mission plans, customer payloads, and early validation of the service model11:20 – Pricing, unit economics, and reducing the back-end cost of using space13:06 – How early research customers can scale with Tumbleweed over time14:38 – Julian’s founder background, Mars exploration work, and the origins of Tumbleweed18:15 – Building a commercial space company from Austria and creating a path outside traditional space hubs20:20 – Technical execution, rapid hardware iteration, and building a team optimized for fast development23:07 – European space startup challenges, capital access, and the role of non-obvious investors27:16 – Reentry vehicles, downmass, and the technical challenges of returning payloads from orbit32:28 – Launch market dynamics, SpaceX Transporter missions, and opportunities for emerging launch providers36:54 – SpaceX Starfall, downmass competition, and Tumbleweed’s role as an interface layer for customers39:35 – Customer support, payload safety checks, and making space experimentation more iterative42:32 – Why Tumbleweed is focused on infrastructure rather than becoming a pharma or research company44:58 – Investor misconceptions and the idea of microgravity as an industrial resource46:16 – Long-term vision for ubiquitous microgravity access and future interplanetary logistics47:39 – Closing takeaway: microgravity access is becoming practical for small teams and first-time users This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Principal Aidan Daoussis sits down with Bentzion Levinson, Founder & CEO of Heven AeroTech, to discuss how the company is building hydrogen-powered drones for heavy-lift, long-endurance, and low-signature missions. The conversation covers why hydrogen matters for drone endurance, how portable refueling changes the infrastructure problem, why autonomy depends on resilient navigation and communications, and why Levinson believes the “drone era” is no longer optional for the U.S. and its allies.Heven’s public materials align with the episode framing: the company now presents itself as Heven AeroTech after rebranding from Heven Drones in 2025, and its Z1 hydrogen-powered UAS was announced as earning DIU Blue UAS Select status.Timestamped Overview00:00 – Introduction to Heven AeroTech Aidan introduces Bentzion Levinson and Heven AeroTech, framing the company around hydrogen propulsion, quantum drones, and the future of unmanned systems.00:43 – From flying cameras to flying robots Levinson explains that most drones today are either small flying sensors or large unmanned aircraft, while Heven is focused on drones that can act as true flying robots: lifting meaningful payloads, flying longer, and performing real missions.02:24 – Two product lines: heavy lift and long-range stealth Heven’s portfolio is divided between tactical heavy-lift drones, capable of carrying significant payloads over shorter ranges, and long-endurance hydrogen-powered systems designed for low-signature, long-range missions.04:28 – Why hydrogen, and why now Levinson argues that hydrogen is not the point by itself; it is a means to achieve long endurance, low acoustic and thermal signatures, and field independence. The company’s key claim is that batteries cannot support missions like 10-hour flight profiles at useful payloads.06:29 – Tradeoffs in payload, endurance, and cost The discussion turns to aircraft design around hydrogen. Levinson compares the shift to early EVs, where the platform must be designed around the energy system rather than retrofitted.08:28 – What the drones look like Heven builds both multirotor and winged VTOL platforms. The common feature is runway independence: drones can launch from rooftops, fields, ships, or deployed field sites, then either hover or transition to efficient forward flight.10:00 – Surviving in a crowded drone market Aidan asks how Heven differentiates in an increasingly crowded drone landscape. Levinson points to building for where the market is going: long range, survivability, low signatures, quantum-enabled navigation and communication, and scalable manufacturing.14:28 – Where demand is strongest Heven sees demand across defense, homeland security, ISR, strike, border security, and eventually commercial uses. Defense is the initial market because the value is clear, regulatory barriers are lower, and the urgency is high.17:21 – Why hydrogen has historically been hard Levinson explains that hydrogen’s challenge has always been the combination of vehicle and infrastructure. In drones, the infrastructure problem is smaller because the hydrogen requirement is far lower than for cars, trucks, or aircraft.22:16 – Portable hydrogen refueling Heven has developed field refueling systems, including Pelican-case-deployable systems and trailer-based systems with solar panels. The point is energy independence: units can generate hydrogen in the field rather than relying on fuel convoys or fixed infrastructure.25:33 – Milestones that changed investor perception The company’s major milestones include customer traction, battlefield use, U.S. Army ordering pathways, Blue UAS approval, and a Series B that reportedly valued the company above $1B. Heven’s Z1-H2D250 public product page lists a 10+ hour flight time and NDAA compliance.28:35 – Could primes replicate this? Levinson argues that large defense primes struggle with speed in fast-moving drone markets. He frames Heven’s moat as the combination of aircraft design, hydrogen systems, quantum technologies, manufacturing, user trust, and battlefield iteration.31:43 – The Pacific problem and long-range drone warfare Aidan connects Heven’s thesis to the Indo-Pacific: a theater defined by distance, islands, and maritime logistics. Levinson argues that drones are already an arms race and that the U.S. and its allies need both capability and quantity.35:40 – Autonomy, navigation, and communications The conversation shifts to autonomy. Levinson emphasizes that autonomous drones still need resilient navigation and communications: a drone cannot complete a mission if it does not know where it is or cannot communicate when needed.38:31 – Human-in-the-loop questions Levinson discusses the ethical and operational tension around autonomous decision-making. If one side requires human approval and the other does not, latency may become a decisive battlefield disadvantage.40:15 – Commercial markets over time Defense is the first major market, but Levinson believes commercial markets will eventually be larger. Potential use cases include ship-to-shore logistics, industrial operations, emergency response, blood delivery, time-critical medical supplies, and helicopter replacement.41:52 – Field deployment in practice Levinson walks through a deployed mission: units bring aircraft, refueling stations, and ground control systems; assemble drones in minutes; load a mission profile; attach mission-specific payloads; launch; recover; swap tanks; and redeploy.45:00 – Scaling and manufacturing bottlenecks Heven’s earlier challenge was product-market fit. Levinson says the current challenge is execution at scale: manufacturing, supply chains, facility networks, and reducing dependency on adversarial or fragile sources.47:15 – What to watch next Key milestones include new manufacturing facilities, international operations, larger defense programs, continued R&D, quantum-navigation efforts, and expansion into new countries and use cases.49:47 – Final takeaway: the drone era is here Levinson’s closing message is that the drone era is already upon us. He frames drones not as a futuristic nice-to-have, but as a must-win strategic category for the U.S., Israel, and allied defense ecosystems. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Principal Aidan Daoussis sits down with Matthew Anderson, Founder & CEO of Oso Semiconductor, to discuss efficient phased array chipsets. Oso Semiconductor is developing high-performance, ultra-low-power chipsets for phased array antennas used in satellite communications, 6G, radar, and mobility systems. The company aims to reduce the power, cost, and form-factor constraints that limit broader phased array deployment.Timestamped Overview00:00 – Introduction and Oso Semiconductor overview01:27 – Matthew Anderson’s background and path from Jamaica to Apple, Berkeley, and chip design04:18 – Semiconductors explained as the foundation of modern electronics and communications06:15 – Phased array antennas and the technical challenge of power, cost, and circuit complexity09:06 – Major semiconductor trends in electrification, AI efficiency, and wireless connectivity11:09 – Energy constraints in AI, data distribution, and wireless infrastructure13:04 – Semiconductor supply chains, Taiwan, and geopolitical risk15:04 – Data centers, local opposition, and infrastructure implications17:17 – Space-based data centers and the importance of efficient RF and optical links19:09 – Oso’s ideal customers across satcom, mobility, drones, manpacks, and hyperscalers20:27 – Starlink-like terminals, portable connectivity, and potential power savings22:05 – Ground station power requirements and system-level reduction opportunities23:49 – Scaling a fabless semiconductor company from design to fabrication, packaging, and customer integration27:02 – Semiconductor manufacturing complexity and Oso’s use of conventional RF-SOI process nodes29:21 – Common misconceptions about semiconductor innovation and the importance of simplicity31:16 – Company vision, customer traction, productization, and long-term scale33:18 – Milestones including patents, team growth, MVP products, and a multimillion-dollar agreement36:06 – Industry bottlenecks in domestic prototyping, advanced packaging, and specialized hiring38:04 – Applications in radar, automotive, 6G, drones, and beyond-line-of-sight communications41:01 – Key takeaway on rethinking phased array power, performance, and cost43:00 – Closing remarks This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Principal Emerson Garnett sits down with Keval Dattani, Founder & CEO of Space Power, to discuss laser power beaming in space. Space Power is developing photon delivery systems that transmit energy to existing solar arrays using wavelength-tuned lasers. The company is focused on reducing spacecraft power constraints across GEO satellites, LEO constellations, lunar infrastructure, and future deep-space missions.Timestamped Overview00:00 – Introduction and Space Power’s origin story02:30 – Photon delivery, solar panel compatibility, and on-demand recharge03:07 – The growing power problem for commercial and government space missions04:53 – Launch constraints, battery mass, and satellite design tradeoffs06:13 – Power needs for lunar infrastructure and permanently shadowed regions07:25 – Technical overview of laser-based power transmission to photovoltaic arrays09:31 – Early feasibility work, multi-junction cells, and patent development11:09 – Customer adoption challenges and the need to prove reliability12:25 – Initial customers, GEO satellites, and critical infrastructure resilience14:17 – Lunar night, Mars missions, nuclear reactors, and advanced propulsion16:37 – Scaling the system across GEO and LEO operating models18:09 – Ground demonstration using a rover, tracking system, and laser charging19:13 – Partnerships, defense demand, and military satellite applications21:50 – Space data centers and the challenge of continuous orbital power23:30 – Pricing power beaming and service models for space energy delivery25:23 – In-orbit demonstrator plans and fractionated spacecraft applications26:37 – GEO satellite rescue and roadside assistance for spacecraft28:27 – Regulatory considerations, beam safety, and universal compatibility30:45 – Team composition, space experience, and company development32:23 – Near-term milestones, high-power laser testing, and launch preparation33:12 – Timeline toward GEO operations and commercial deployment34:10 – Lunar surface applications for rovers, habitats, and safety systems34:55 – Contrarian views on launch assumptions and space infrastructure36:17 – Long-term vision for LEO power grids, GEO rescue, lunar bases, and deep-space power37:04 – Interplay between space reactors and universal power distribution38:22 – How to follow Space Power and get involved39:11 – Closing discussion on shared infrastructure and NewSpace services This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Principal Aidan Daoussis sits down with Michael Anderson, Co-Founder & CEO of Seagate Space, to discuss offshore launch infrastructure. Seagate Space is developing maritime platforms and services for offshore launch, recovery, and space logistics. Its Gateway Series platform is designed to expand launch access without requiring new coastal spaceports.Timestamped Overview00:00 – Introduction and Seagate Space overview02:25 – Gateway Series platform architecture and offshore launch concept04:18 – ABS approval, MIT wave tank testing, and prototype development05:02 – Michael Anderson’s path from finance and maritime strategy to founding Seagate11:17 – Engineering requirements for offshore launch and recovery platforms15:31 – Why offshore launch infrastructure matters for coastal constraints and launch cadence18:29 – Lockheed, Firefly, and plans for offshore launch demonstrations21:01 – History of maritime launch, including Sea Launch and China’s offshore activity24:43 – Differences between missile launch, orbital launch, and hypersonic testing needs27:26 – Business model options, including charters and partnership-based structures29:37 – Launch market bottlenecks and the need for infrastructure diversity37:10 – Airport and seaport analogies for future launch infrastructure40:23 – Regulatory, operational, and mission considerations for offshore launch locations43:53 – Equatorial launch potential and roadmap for larger platforms45:03 – Port staging, launch cadence, and future maritime operating concepts48:59 – Closing takeaway on specialized maritime providers for the space industry This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Principal Aidan Daoussis sits down with Joe Wolfel, Founder & CEO of Terradepth, to discuss seabed intelligence and autonomous ocean mapping. Terradepth is building an ocean operating system that combines autonomous subsea data collection, integrated data infrastructure, and applications for seabed decision-making. The company is focused on making the ocean more observable for commercial, government, and conservation use cases.Timestamped Overview00:00 – Introduction to Terradepth and the challenge of ocean exploration00:28 – Why the ocean remains poorly understood despite advances in satellites and remote sensing02:17 – Terradepth’s mission and the three-layer ocean operating system05:15 – Joe Wolfel’s Navy background and the origin of the company10:40 – Autonomous underwater vehicles, sensing, data ingestion, and cloud infrastructure12:20 – Why underwater sensing often requires acoustic systems instead of optical sensors13:25 – Diesel-electric power architecture and the economics of subsea data collection14:39 – What a future without Terradepth would miss in ocean intelligence infrastructure17:00 – Parallels between space domain awareness and ocean situational awareness18:33 – Seabed security, critical infrastructure, and the need to perceive underwater change22:21 – Emerging underwater threats and the challenge of detecting stationary subsea objects26:54 – Maritime chokepoints, the GI-UK gap, and scaled perception in strategic waters31:27 – Terradepth’s customer base across government, commercial, and conservation markets32:35 – Subsea infrastructure, fiber optic cables, pipelines, and future underwater systems36:16 – Comparing the engineering challenges of operating underwater and in space39:43 – GPS-denied operations, autonomous behavior, and designing for loss in the ocean42:45 – Competitive dynamics, data ownership, and Terradepth’s compounding advantage44:50 – Execution roadmap and the role of agentic AI, communications, and robotics47:07 – Data ownership, Absolute Ocean, and the long-term vision for accessible seabed intelligence48:47 – Closing thoughts on making the ocean as accessible as space is becoming This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Principal Emerson Garnett sits down with Dave Barnhart, Founder & CEO of Arkisys, to discuss orbital port infrastructure. Arkisys is developing modular port platforms designed to host, connect, service, and sustain customer payloads in orbit. The company’s architecture is intended to reduce time to orbit, support post-launch integration, and enable new models for in-space manufacturing, servicing, and commercial operations.Timestamped Overview00:00 – Introduction to Arkisys and the concept of ports in orbit01:44 – Maritime analogies and the case for sustainable orbital infrastructure02:44 – Dave Barnhart’s DARPA background and the origins of modular space systems04:50 – Reducing payload timelines from traditional spacecraft cycles to faster hosted access06:34 – Software, digital twins, and validating customer payloads before launch07:49 – Arkisys’ applique system for protocol translation and remote payload integration09:28 – Safety review preparation, AI-assisted analysis, and ISS customer workflows10:39 – Enabling customer-to-customer connections on an orbital platform11:46 – Product architecture: port modules, Cutter last-mile delivery, and Bosun’s Locker14:45 – Ideal customers for Bosun’s Locker across qualification, edge computing, and manufacturing16:34 – In-space manufacturing opportunities in pharma, materials, optics, and chips20:06 – Hosted payloads as the first revenue model and foundation for servicing23:00 – Astrobee, ISS operations, and testing payloads for navigation, RPO, sensors, and robotics26:01 – Customer priorities around speed, flexibility, and post-launch integration30:14 – Service-based leasing, monthly pricing, and shared revenue opportunities between payloads33:23 – Export control, licensing, and regulatory considerations for multi-customer platforms34:45 – Port lifecycle, sustainability, upgrades, and long-duration platform design37:47 – Sovereign and regional use cases for leased port capacity40:00 – Long-term vision for democratizing access to in-space infrastructure43:01 – Upcoming milestones, including the first Cutter launch and interface demonstrations44:10 – Arkisys’ goal of building ports at Earth, the Moon, and Mars This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Principal Aidan Daoussis sits down with Ernestas Žvaigždinas, Co-founder & CEO of Broswarm, to discuss drone-based landmine detection. Broswarm is developing a lightweight UAV-mounted synthetic aperture radar payload designed to detect landmines and other subsurface objects from autonomous drone flights. The conversation covers the landmine crisis in Ukraine, radio-wave imaging, plastic mine detection, field deployment, and broader applications in defense, infrastructure, robotics, and subsurface sensing.Timestamped Overview00:00 – Introduction to Broswarm and its drone-mounted synthetic aperture radar for landmine detection02:18 – How the UAV performs raster scans and reconstructs subsurface images04:21 – Applications beyond mines, including infrastructure, archaeology, tunnels, and robotic vision06:00 – Ernestas Žvaigždinas’ startup background and the Ukraine-driven origin of Broswarm10:02 – Landmine manufacturing, deployment, and why detection remains difficult15:14 – Autonomous field scanning workflow, processing time, and detection-focused mission scope18:00 – Removal methods for detected mines and the differences between humanitarian and military demining20:51 – Customer pathways across defense ministries, NGOs, governments, and commercial operators23:54 – Detection depth, radio frequencies, GPS precision, and plastic landmine detection29:53 – Dual-use applications, including through-wall sensing, buried bodies, resource detection, and treasure hunting36:24 – Subterranean warfare, smart landmines, UGVs, and battlefield economics44:45 – Long-term vision for radio-wave sensing in robotics, space, vehicles, and change detection51:17 – Closing thoughts on Ukraine, European defense innovation, and the role of technical talent This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Principal Aidan Daoussis sits down with Chris Stott, Founder & Executive Chair of Lonestar Space, to discuss data centers in space. Lonestar Space is developing space-based data storage infrastructure for governments, enterprises, and continuity-of-operations use cases. The company focuses on secure, sovereign, off-planet storage as data volumes, AI workloads, and cyber-physical threats increase.Timestamped Overview00:00 – Introduction to Lonestar Space and prior data center missions to the ISS and Moon01:50 – How space-based data centers compare with terrestrial data centers03:10 – AI-driven data growth, terrestrial data center constraints, and space-based economics06:00 – Data as the core infrastructure layer behind communications, remote sensing, AI, and storage08:20 – Customer demand, security, space law, and data embassies as drivers for the company10:20 – Commercial traction, Series A plans, and the broader investment opportunity in space data infrastructure11:40 – Exponential growth in global data generation and the need for hybrid ground, space, and underwater infrastructure14:00 – Potential breakthroughs in compression, encryption, quantum security, and data management16:30 – Launch architecture, rideshare compatibility, hosted payloads, and future satellite deployment plans18:30 – Data sovereignty, Outer Space Treaty principles, hosted payload law, and national jurisdiction in space21:00 – Space and lunar infrastructure as extensions of global communications and data networks24:00 – Spectrum licensing, satellite communications heritage, and the hybrid future of ground and space systems26:15 – Thermal management, radiation, redundancy, and why storage workloads differ from high-power AI compute31:45 – China’s space data center activity and the strategic implications of off-planet data infrastructure34:10 – Customer profiles, including governments, social media platforms, data center operators, and data embassy partners38:45 – Space security, hybrid warfare, cyberattacks, and why protected backup infrastructure matters43:30 – Data storage as a continuation of satellite communications and orbital infrastructure development47:30 – Strategic competition with China and the role of private capital in building space data infrastructure50:30 – Closing remarks and invitation to connect with Lonestar Space This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Principal Emerson Garnett sits down with Jacob Nuechterlein, Founder & President of Elementum 3D, to discuss metal additive materials. Elementum 3D develops specialty materials for metal additive manufacturing, including aluminum, nickel, copper, tungsten, and related systems. The company’s reactive additive manufacturing approach addresses cracking and qualification barriers for high-performance parts in space, defense, automotive, and energy applications.Timestamped Overview00:00 – Introduction and Elementum 3D overview01:05 – Founding problem, early additive manufacturing material limits, and validation with the first printer03:38 – Reactive additive manufacturing and in-situ ceramic particles that reduce cracking05:27 – Additive geometries, aerospace-grade aluminum, Europa mission hardware, and rocket engine parts06:39 – Product demand across nickel superalloys, aluminum, copper, and space and defense markets08:33 – Formula One qualification and adoption by NASA, primes, and racing teams09:45 – Customer material down-selection, OEM design culture, and redesigning for additive manufacturing13:20 – Adjacent markets including energy, cooling, batteries, and nuclear applications14:42 – Qualification cost, duplicated testing, and industrializing new materials for production16:00 – Custom materials, product standardization, business model, and ideal recurring customers19:22 – Partnerships, government adoption barriers, standards, and additive ecosystem gaps24:41 – Reshoring, U.S. supply, tungsten applications, and radiation shielding use cases27:40 – R&D culture, faster print speeds, founder advice, MMPDS qualification, AI design, and cold spray37:16 – Legacy alloy adoption, GRX810, ODS materials, Colorado ecosystem, and future copper alloy roadmap43:24 – Founder lessons on investor alignment and closing remarks This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Principal Aidan Daoussis sits down with Grace Vanderhei, Nuclear Engineer, Former Miss America, and Nuclear Advocate, to discuss nuclear energy. Grace works as a nuclear fuels engineer at Constellation Energy and has become a public voice for nuclear science, clean energy, and grid reliability. The conversation covers nuclear advocacy, public trust, advanced reactors, fusion, workforce development, and the role nuclear could play in America’s energy future.Timestamped Overview00:00 – Introduction and Grace Vanderhei’s background as Miss America 2023 and a nuclear engineer00:45 – How Miss America became a platform for nuclear science and clean energy advocacy03:09 – Choosing nuclear engineering and confronting public misconceptions about the field05:06 – Translating between technical engineering environments and public-facing communication07:10 – Grace’s work as a nuclear fuels engineer at Constellation Energy09:33 – How public support for nuclear energy has changed over the past five years12:55 – AI, data centers, and broader drivers of rising electricity demand14:12 – Grace’s ideal energy mix and the role nuclear could play in the U.S. grid16:22 – What surprises people about visiting nuclear power plants17:46 – Advanced reactor diversity, regulatory change, and nuclear applications in space19:31 – Public speaking, technical credibility, and pressure in front of different audiences21:33 – Becoming a public face of nuclear energy and representing younger voices in the industry26:16 – How working at Constellation shapes Grace’s public communication about nuclear energy27:22 – Small modular reactors, microreactors, licensing challenges, and commercialization timelines31:48 – Fusion energy, its promise, and Grace’s expectations for grid deployment35:00 – What needs to be built now to support the next phase of nuclear deployment38:12 – Gen Z, authenticity, community, and building the next generation of nuclear advocates42:00 – Career advice for young engineers and following a nontraditional path42:56 – Public trust, policy, standardization, and building reactors on time and on budget47:23 – U.S. nuclear competitiveness relative to China and France49:50 – Final takeaway: nuclear is safe, effective, reliable, and worth learning about This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Senior Associate Aidan Daoussis sits down with Colin Doughan, Co-Founder & CEO of Gravitics, to discuss space infrastructure. Gravitics is developing large spacecraft modules designed to provide flexible pressurized volume for cargo, commercial space stations, manufacturing, orbital data centers, and defense applications. The company is focused on building the real estate layer for a launch market increasingly shaped by higher-mass vehicles and higher launch cadence.Timestamped Overview00:00 – Introduction and Gravitics’ origin story02:20 – Hollow spacecraft, orbital warehouses, and commercial use cases03:43 – Gravitics as space infrastructure and where it provides end-to-end services05:14 – Early customers, Axiom relationship, and cargo logistics for commercial space stations06:38 – Product categories: orbital carriers, cargo and logistics, and space stations08:23 – Capital intensity, Starship thesis, and the real estate layer for space10:53 – Launch bottlenecks, SpaceX, New Glenn, and future cadence14:26 – Cargo economics, reusability, downmass, crew transport, and free-flyer manufacturing17:00 – Orbital data centers, compute, power, thermal management, and optical communications18:09 – Large station concepts, space tourism, and practical Earth-centered applications21:31 – Dialable gravity, spinning modules, and gravity as a service24:44 – NASA’s commercial space station transition and government support26:41 – Space Force, orbital security, and future human presence in space33:38 – Sustaining public and investor momentum beyond space hype cycles35:05 – Government-first markets, commercial transition, and risk of bubble dynamics38:11 – Lessons from Lockheed, orbital data centers, and ensuring economics close41:26 – Barriers to growth, near-peer competition, and the role of defense investment44:38 – Building public support through space-derived products and manufacturing46:20 – Gravitics’ milestones, hardware demonstrations, and upcoming missions49:00 – Key takeaway: Gravitics as the platform for what becomes worth launching This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Senior Associate Aidan Daoussis sits down with Hirokazu Mori, Founder & CEO of Caelum Consilium, to discuss Japan’s space economy and orbital data centers.Hirokazu Mori explains how Caelum Consilium helps governments, large companies, and startups navigate the global space industry, with a particular focus on Japan, Europe, and the United States. The conversation covers Japan’s rapidly changing space ecosystem, the rise of national security demand, the role of the Japan Space Strategy Fund, differences between Japanese and U.S. fundraising, and why human talent may be the key bottleneck for the next phase of space growth.Timestamped Overview00:00 — Introduction to Caelum ConsiliumAidan introduces Hirokazu Mori, Founder and CEO of Caelum Consilium, a strategy consulting firm focused on the space industry.02:10 — How Caelum Helps Space Companies GrowHiro explains how Caelum supports startups with business strategy, international expansion, IP strategy, and hands-on executive roles.03:44 — Hiro’s Background in Science, Engineering, and ConsultingHiro discusses his path from astrophysics and aerospace engineering into strategy consulting and space business.05:59 — Helping Non-Space Companies Enter SpaceHiro describes how large companies in sectors like automotive, construction, and energy can identify space opportunities using existing capabilities.08:32 — Building a Real Business Case for SpaceHiro explains why large corporates need credible three-to-five-year business cases before entering the space industry.13:13 — Building Government and Industry NetworksHiro shares how years of consulting work with Japanese ministries helped him build a network across government and industry.15:18 — The Shift Toward National Security SpaceHiro discusses how the space industry has shifted over the last two to three years toward defense and national security demand.17:46 — Human Spaceflight, Orbital Data Centers, and Lunar ActivityHiro highlights the areas of space technology that currently excite him most.20:12 — Why Orbital Data Centers MatterAidan and Hiro discuss the case for orbital data centers, including AI power demand, terrestrial data center constraints, launch capacity, solar power, and spacecraft thermal systems.26:12 — Japan’s Space Industry TodayHiro explains how Japan’s space industry has evolved from science and exploration toward commercial, dual-use, and national security applications.28:03 — The Japan Space Strategy FundHiro discusses the impact of Japan’s Space Strategy Fund and how it is encouraging non-space companies to enter the sector.30:32 — Advice for Japanese Space StartupsHiro advises Japanese startups to pursue available government funding while building toward real customer demand and dual-use applications.33:11 — Fundraising in Japan vs. the United StatesHiro compares Japanese and U.S. fundraising, including the lack of angel capital in Japan, smaller fund sizes, and the importance of corporate strategic fit.35:33 — Leading Japanese Space and Defense CompaniesThe conversation covers companies such as Astroscale, Synspective, and QPS, and the growing importance of Earth observation and defense applications.38:04 — Government Support for Space and DefenseHiro discusses Japanese defense procurement reform, export regulation changes, fast-track procurement, and increased defense budgets.41:45 — Japan’s Space Industry Five Years from NowHiro predicts that Japan’s space workforce, launch cadence, and industrial capacity could expand meaningfully over the next five years.43:48 — Talent as the Key BottleneckHiro argues that Japan needs more aerospace education, training programs, and talent development to sustain growth in the space sector.46:10 — Why U.S. Space Leaders Should Pay Attention to JapanHiro closes by encouraging U.S. listeners to see Japan as an increasingly important partner in space, defense, and talent exchange.48:02 — How to Connect with HiroHiro invites listeners to reach out through LinkedIn to discuss space, defense, Japan, and potential collaboration. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Senior Associate Aidan Daoussis sits down with Adrián Senar, Co-Founder & CEO of Kreios Space, to discuss very low Earth orbit. Kreios is developing air-breathing electric propulsion and satellite platforms designed to operate around 200 kilometers altitude. The company aims to make VLEO commercially viable for Earth observation, telecommunications, and defense applications.Timestamped Overview00:00 – Introduction to Kreios Space and VLEO01:42 – Why satellites do not currently operate at 200 kilometers03:03 – Benefits of VLEO for imaging, SAR, telecom, and defense04:42 – The harsh VLEO environment and satellite design requirements06:10 – Potential future use cases and constellation architectures08:03 – Adrián Senar’s background and the origin of Kreios09:20 – Company traction, funding, team growth, and 2027 demo mission10:44 – How air-breathing electric propulsion works12:04 – What happens to a standard satellite at 200 kilometers13:23 – Customer demand from defense and commercial constellations14:42 – Kreios’ platform model and why VLEO is not plug-and-play propulsion15:37 – First in-orbit demonstration planned for Q4 202717:38 – Operating from Spain and the European space ecosystem19:00 – National security applications and resilience in VLEO22:01 – Coverage tradeoffs and constellation size requirements23:22 – Historical VLEO missions and ESA’s GOCE mission26:32 – Scaling production and adapting platforms for different missions28:01 – Export controls, NATO alignment, and future customer strategy30:17 – Team structure, founder roles, and decision-making32:16 – Expected satellite lifetime in VLEO with Kreios technology33:02 – Why standard satellite buses cannot simply adopt the thruster34:33 – Market size for VLEO across defense and telecom35:07 – Adjacent altitude regimes and future space technologies38:03 – Technical challenges of the in-orbit demonstration39:28 – Payloads, early government interest, and focus on VLEO data42:47 – Long-term company vision and potential acquisition interest44:07 – Investor misconceptions about Kreios as a propulsion company46:07 – Hardest company-building challenges and team culture48:40 – Final takeaway: VLEO as the next major space domain This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Senior Associate Aidan Daoussis sits down with Rahul Shirke, Founder & CEO of Arceon, to discuss advanced composites for space and defense. Arceon develops ceramic matrix composite components for extreme environments, including rocket nozzles, heat shields, leading edges, and hypersonic aeroshells. The company is focused on faster, scalable production of high-temperature materials for space and defense applications.Timestamped Overview00:00 – Introduction and Arceon company overview02:34 – Rahul Shirke’s background and the founding of Arceon03:49 – Extreme environments in solid rocket motors and hypersonics05:32 – How advanced materials simplify high-temperature systems06:28 – Arceon’s manufacturing process from polymer composite to ceramic matrix composite09:37 – Technical differentiation and faster production timelines11:05 – Company milestones, space projects, and defense qualification12:03 – Changes in the European space and defense ecosystem15:06 – Customer drivers: scale, weight reduction, reusability, and manufacturability16:32 – Comparison with Inconel and other high-temperature metals19:59 – Carbon fiber, proprietary resin, silicon infiltration, and damage tolerance22:29 – Static fire testing, AFRL testing, and nozzle extension development25:03 – Fundraising, government support, and scaling challenges in Europe27:04 – Demand split between defense and commercial space28:07 – Future implications for lunar infrastructure and hypersonic systems34:00 – Near-term milestones in heat shields, nozzle extensions, and defense production36:38 – Why scalable materials production may now be venture-backable39:28 – Process know-how, reproducibility, and barriers to copying Arceon43:47 – Why advanced materials matter across space, defense, semiconductors, and nuclear This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Senior Associate Aidan Daoussis sits down with Patrick Haddox, CEO & Co-Founder of Samara Aerospace, to discuss satellite control systems. Samara is developing the Hummingbird satellite bus and MSAC control system to reduce jitter, improve pointing stability, and replace traditional reaction wheels. The company is targeting applications in optical payloads, RF sensing, large deployable satellites, and future space infrastructure.Timestamped Overview00:00 – Introduction and overview of Samara Aerospace00:39 – Hummingbird satellite bus and MSAC attitude control system02:31 – Advantages over traditional satellites and reaction wheel systems04:37 – Founding story and origins of the technology06:13 – Customer traction, government contracts, seed financing, and Cicada payload08:33 – Use cases in Golden Dome, RF sensing, and weak-signal detection11:00 – Satellite industry trends and the shift toward larger deployables13:20 – Launch, talent, supply chain, and manufacturing bottlenecks15:23 – Orbital data centers and the need to control large satellites17:38 – Misconceptions about space hardware and satellite complexity20:12 – Scaling Samara’s manufacturing capacity23:44 – Bill of materials, reaction wheel supply chain, solar, actuators, and thrusters27:24 – Workforce, launch dependence, and SpaceX market dynamics30:16 – Competitive positioning, patents, and technical moat31:26 – How reaction wheels work and why failure matters35:25 – Flight heritage, first Hummingbird launch, and proving the system on orbit37:31 – Business model: hardware sales and RF data services40:43 – Lunar infrastructure, DSN offload, and mass constraints beyond LEO43:19 – Early lunar economy infrastructure and South Pole operations44:33 – Competing with SpaceX and identifying satellite market niches46:00 – Maneuverability, deployables, and defense applications48:37 – Upcoming milestones, PDR, CDR, and July 2027 launch plans50:49 – Key takeaway and long-term vision for Samara Aerospace This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Senior Associate Aidan Daoussis sits down with Jason Andrews, Co-Founder & CEO of Orbite Space, to discuss astronaut training. Orbite Space prepares private individuals, companies, and governments for human spaceflight through training, mission consultation, and spaceflight experiences. The company is building the service layer needed as human access to orbit expands.Timestamped Overview00:00 – Introduction and Orbite Space overview00:48 – Jason Andrews explains Orbite’s role in preparing people for spaceflight03:35 – Experience, train, fly: Orbite’s customer pathway09:35 – Astronaut orientation and condensed training programs15:22 – Mission support and the future of Starship-enabled spaceflight18:45 – Current private astronaut market and barriers to adoption23:03 – Finding customers through F1, yachting, private aviation, and luxury events26:17 – Orbite’s focus on human systems, health, safety, and space hospitality31:27 – Zero-gravity flight training and parabolic aircraft operations35:14 – B2C, B2B, and B2G opportunities for astronaut preparation38:12 – Point-to-point rocket travel and how much training passengers may need40:12 – Mental, physical, and medical preparation for spaceflight44:28 – Underwater and analog environments for space training46:12 – Lunar and Mars analog training with real space hardware52:20 – Revenue model across consumer, business, and government customers55:59 – Public perception, the aviation analogy, and the future of human spaceflight58:15 – Closing takeaway: human spaceflight is becoming a near-term commercial market This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Senior Associate Aidan Daoussis sits down with Nick Destrycker, Founder & CEO of EDGX, to discuss compute infrastructure in space. EDGX is developing AI compute systems for satellites, enabling operators to process data onboard before downlinking. This reduces latency and bandwidth costs for applications such as ISR, SIGINT, disaster monitoring, and future orbital data centers.Timestamped Overview00:00 – Introduction to EDGX and onboard satellite computing00:47 – EDGX’s vision for a sovereign compute layer in space02:03 – Current products: AI compute systems and compute-as-a-service03:01 – Technical challenges: vibration, temperature, and radiation07:35 – Use cases for ISR, SIGINT, and rapid battlefield awareness10:18 – Commercial applications including flood and wildfire detection11:12 – Hardware architecture using commercial NVIDIA-based systems12:53 – Company milestones, first customers, and flight heritage16:30 – Next-generation systems and orbital data center node plans18:43 – Hosted payloads, customer missions, and demand from defense20:48 – AI, GPU, and orbital data center tailwinds23:11 – Building fast despite long space development cycles25:06 – Training and deploying AI models for in-orbit processing26:43 – Legacy satellites, interoperability, and future satellite refresh cycles29:20 – Defense demand, Golden Dome relevance, and long-term commercial opportunity30:50 – European space technology, launch dependence, and market constraints32:55 – European and U.S. customer strategy34:14 – European defense space architecture and IRIS²35:21 – Funding history, seed round, and capital strategy38:11 – Scaling production and manufacturing bottlenecks39:54 – Investor misconceptions and EDGX’s broader compute-layer vision41:52 – Closing takeaway: compute in space as foundational infrastructure This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Senior Associate Aidan Daoussis sits down with Brian Taylor, Founder & CEO of Lux Aeterna, to discuss reusable satellites. Lux Aeterna is developing satellites designed to return from orbit, be refurbished, and fly again. The company is addressing satellite lead time, cost, and mission flexibility as launch cadence increases.Timestamped Overview00:00 – Introduction and company overview00:48 – Why reusable satellites matter as launch costs fall02:37 – New mission architectures enabled by shorter-duration flights04:06 – Brian Taylor’s background at SpaceX, Kuiper, and Loft Orbital06:21 – Relaxing satellite mass constraints to enable reentry08:41 – Vehicle architecture, payload capacity, and landing approach11:08 – Reentry safety, heat shields, parachutes, and landing in Australia13:50 – Use cases for downmass, payload swaps, and human refurbishment17:37 – Separating stable satellite buses from rapidly evolving payloads20:50 – Why large-scale orbital infrastructure may require reusability22:18 – Launch supply, SpaceX, Starship, and the need for competition24:20 – Fleet scale, standardization, and future vehicle classes26:01 – Satellite lead-time bottlenecks and the case for faster access28:41 – Competitive advantage, operational knowledge, and speed30:12 – SpaceX IPO implications for capital, talent, and market validation33:29 – Building trust through cadence, consistency, and reliable downmass35:18 – Customer interest from in-space manufacturing and government users37:00 – Hypersonic testing opportunities during reentry38:36 – Differences between reusable satellites and reusable upper stages40:12 – Investor questions, skepticism, and the scale argument42:47 – Technical validation, first flight, reuse, and scaling challenges46:57 – Team building, hiring criteria, and hardware-in-space experience49:29 – Preparing for the February flight and first vehicle operations50:52 – Closing takeaway on robust, high-cadence space infrastructure This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com

Balerion Advisor Doug McAdams sits down with Brian Berzin, Co-Founder & CEO of Thea Energy, to discuss stellarator fusion. Thea Energy is developing a planar-coil stellarator architecture spun out of Princeton Plasma Physics Lab. The company is focused on making fusion practical for utility-scale power generation by shifting stellarator complexity from precision hardware into software-controlled magnet arrays.Timestamped Overview00:00 – Introduction to Brian Berzin and Thea Energy00:35 – Brian’s background in engineering, finance, venture, and fusion02:33 – Fusion as an energy investment thesis04:35 – Commercial fusion as utility-scale power generation05:53 – Why fusion matters for energy, safety, geopolitics, and prosperity11:19 – The shift from laboratory fusion science to commercial engineering15:43 – Princeton Plasma Physics Lab, David Gates, and the origins of Thea Energy17:52 – Why stellarators differ from tokamaks20:54 – The planar-coil stellarator breakthrough22:23 – Thea’s 300+ magnet array and software-controlled plasma shaping24:34 – Using software control to handle variability, wear, and long-term plant operation28:38 – Series A progress, magnet iteration, and hardware development31:49 – Superconducting magnet arrays, field precision, and DOE milestone work34:37 – AI, machine learning, and control systems for fusion optimization40:41 – Fuel choice and the case for deuterium-tritium fusion43:32 – Neutron capture, blankets, tritium breeding, and power conversion46:22 – Roadmap to EOS, Helios, and first-half-2030s grid power50:50 – Manufacturing scale-up and building fleets of fusion power plants52:06 – Practicality, cost of electricity, and scaling fusion within the power industry This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit balerionspace.substack.com