An American company is working on a fully reusable rocket that could make space transport significantly cheaper and may cut launch costs from $1,000 a kilo to a few hundreds of dollars.
Washington state-based Stoke Space is aiming to achieve what no company has done – operate commercial rockets whose first and second stages are designed to return to Earth and fly again.
“Stoke Space is looking to solve mobility to space, through space and from space,” Andy Lapsa, the company’s chief executive, told The National in an interview. “The only way to reduce costs, increase flight frequency and improve availability at the same time is through fully, rapidly reusable vehicles.”
While companies such as SpaceX have made strides with partially reusable rockets, Stoke Space wants to take reusability to the next level. It intends to develop its Nova rocket system, which would function almost like a commercial aircraft, with a quick turnaround time between flights.
Pioneering a reusable second stage
The challenge of creating a reusable second stage remains one of the industry’s biggest. Stoke Space’s approach involves a liquid hydrogen and liquid oxygen rocket engine and a liquid-cooled heat shield, which protects the vehicle during the intense heat and pressure of atmospheric re-entry.
Traditional methods for re-entry, such as ceramic tiles or ablative heat shields that burn away during descent, are either non-reusable or prone to damage, which adds to costs.
"The liquid-cooled heat shield enables us to go to space and come back and protect the vehicle during the very intense environments during re-entry," said Mr Lapsa.
Last year, the company tested a prototype second stage, successfully carrying out a vertical take-off and landing. The vehicle "hopped" nine metres in a 15-second flight. The test helped to demonstrate the company's engine, heat shield, software and other technology. This year, the company has carried out two tests of its new engine for its first stage.
Competitive race toward reusability
Stoke Space is not the only company racing to make fully reusable rockets a reality. SpaceX, the industry leader, is developing its Starship rocket, with both stages of the vehicle designed to return to Earth for reuse. The company has revolutionised the market with reusable first stages of its Falcon 9 and Falcon Heavy rockets, but second stages are still expendable.
“Fully reusable vehicles are the end state of this industry,” said Mr Lapsa. “It’s critical for the global space economy to have more than one player providing services to get to space and back.”
Full reusability could cut launch costs significantly, enabling more frequent and affordable access to space.
Progress on the horizon
Stoke Space, which was founded five years ago, has developed two high-performance rocket engines and is working on flight hardware.
The company has raised more than $180 million from venture capitalists and is quickly building the technology. Some of the companies supporting Stoke Space include Seven Seven Six, Industrious Ventures and Toyota Ventures.
Mr Lapsa declined to give a timeline for the rocket's development targets but said progress is accelerating.
“We’re moving as fast as we need to make it happen,” he said.
He visited the UAE on December 10 and 11 to explore partnership opportunities and attend the Abu Dhabi Space Debate. “The UAE has become a global hub for economic activity, and I’m blown away by everything that’s been done here,” he said. “We’re trying to see where there might be areas of alignment or interest.”
UK's plans to cut net migration
Under the UK government’s proposals, migrants will have to spend 10 years in the UK before being able to apply for citizenship.
Skilled worker visas will require a university degree, and there will be tighter restrictions on recruitment for jobs with skills shortages.
But what are described as "high-contributing" individuals such as doctors and nurses could be fast-tracked through the system.
Language requirements will be increased for all immigration routes to ensure a higher level of English.
Rules will also be laid out for adult dependants, meaning they will have to demonstrate a basic understanding of the language.
The plans also call for stricter tests for colleges and universities offering places to foreign students and a reduction in the time graduates can remain in the UK after their studies from two years to 18 months.
Global state-owned investor ranking by size
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United States
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China
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UAE
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Japan
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5
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Norway
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Canada
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Singapore
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Australia
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Saudi Arabia
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South Korea
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The Al Barzakh Festival takes place on Wednesday and Thursday at 7.30pm in the Red Theatre, NYUAD, Saadiyat Island. Tickets cost Dh105 for adults from platinumlist.net
UAE tour of Zimbabwe
All matches in Bulawayo
Friday, Sept 26 – UAE won by 36 runs
Sunday, Sept 28 – Second ODI
Tuesday, Sept 30 – Third ODI
Thursday, Oct 2 – Fourth ODI
Sunday, Oct 5 – First T20I
Monday, Oct 6 – Second T20I
More from Neighbourhood Watch:
Profile of Bitex UAE
Date of launch: November 2018
Founder: Monark Modi
Based: Business Bay, Dubai
Sector: Financial services
Size: Eight employees
Investors: Self-funded to date with $1m of personal savings
COMPANY%20PROFILE
%3Cp%3E%0D%3Cbr%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3EClara%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2019%0D%3Cbr%3E%3Cstrong%3EFounders%3A%20%3C%2Fstrong%3EPatrick%20Rogers%2C%20Lee%20McMahon%2C%20Arthur%20Guest%2C%20Ahmed%20Arif%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%0D%3Cbr%3E%3Cstrong%3EIndustry%3A%20%3C%2Fstrong%3ELegalTech%0D%3Cbr%3E%3Cstrong%3EFunding%20size%3A%3C%2Fstrong%3E%20%244%20million%20of%20seed%20financing%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EWamda%20Capital%2C%20Shorooq%20Partners%2C%20Techstars%2C%20500%20Global%2C%20OTF%2C%20Venture%20Souq%2C%20Knuru%20Capital%2C%20Plug%20and%20Play%20and%20The%20LegalTech%20Fund%3C%2Fp%3E%0A
The specs
Engine: 77.4kW all-wheel-drive dual motor
Power: 320bhp
Torque: 605Nm
Transmission: Single-speed automatic
Price: From Dh219,000
On sale: Now
Why%20all%20the%20lefties%3F
%3Cp%3ESix%20of%20the%20eight%20fast%20bowlers%20used%20in%20the%20ILT20%20match%20between%20Desert%20Vipers%20and%20MI%20Emirates%20were%20left-handed.%20So%2075%20per%20cent%20of%20those%20involved.%0D%3Cbr%3EAnd%20that%20despite%20the%20fact%2010-12%20per%20cent%20of%20the%20world%E2%80%99s%20population%20is%20said%20to%20be%20left-handed.%0D%3Cbr%3EIt%20is%20an%20extension%20of%20a%20trend%20which%20has%20seen%20left-arm%20pacers%20become%20highly%20valued%20%E2%80%93%20and%20over-represented%2C%20relative%20to%20other%20formats%20%E2%80%93%20in%20T20%20cricket.%0D%3Cbr%3EIt%20is%20all%20to%20do%20with%20the%20fact%20most%20batters%20are%20naturally%20attuned%20to%20the%20angles%20created%20by%20right-arm%20bowlers%2C%20given%20that%20is%20generally%20what%20they%20grow%20up%20facing%20more%20of.%0D%3Cbr%3EIn%20their%20book%2C%20%3Cem%3EHitting%20Against%20the%20Spin%3C%2Fem%3E%2C%20cricket%20data%20analysts%20Nathan%20Leamon%20and%20Ben%20Jones%20suggest%20the%20advantage%20for%20a%20left-arm%20pace%20bowler%20in%20T20%20is%20amplified%20because%20of%20the%20obligation%20on%20the%20batter%20to%20attack.%0D%3Cbr%3E%E2%80%9CThe%20more%20attacking%20the%20batsman%2C%20the%20more%20reliant%20they%20are%20on%20anticipation%2C%E2%80%9D%20they%20write.%0D%3Cbr%3E%E2%80%9CThis%20effectively%20increases%20the%20time%20pressure%20on%20the%20batsman%2C%20so%20increases%20the%20reliance%20on%20anticipation%2C%20and%20therefore%20increases%20the%20left-arm%20bowler%E2%80%99s%20advantage.%E2%80%9D%0D%3Cbr%3E%3C%2Fp%3E%0A
The%20Little%20Mermaid%20
%3Cp%3E%3Cstrong%3EDirector%3A%3C%2Fstrong%3E%20Rob%20Marshall%3Cbr%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3EHalle%20Bailey%2C%20Jonah%20Hauer-King%2C%20Melissa%20McCarthy%2C%20Javier%20Bardem%3Cbr%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E2%2F5%3Cbr%3E%3Cbr%3E%3C%2Fp%3E%0A
The%20specs
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Cryopreservation: A timeline
- Keyhole surgery under general anaesthetic
- Ovarian tissue surgically removed
- Tissue processed in a high-tech facility
- Tissue re-implanted at a time of the patient’s choosing
- Full hormone production regained within 4-6 months
THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now
The specs
Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
Torque: 405Nm at 1,750-3,500rpm
Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
On sale: Now
Price: From Dh117,059
RESULTS
1.45pm: Maiden Dh75,000 1,200m
Winner: Lady Parma, Richard Mullen (jockey), Satish Seemar (trainer).
2.15pm: Maiden Dh75,000 1,200m
Winner: Tabernas, Connor Beasley, Ahmed bin Harmash.
2.45pm: Handicap Dh95,000 1,200m
Winner: Night Castle, Connor Beasley, Satish Seemar.
3.15pm: Handicap Dh120,000 1,400m
Winner: Mystique Moon, Sam Hitchcott, Doug Watson.
3.45pm: Handicap Dh80,000 1,400m
Winner: Mutawakked, Szczepan Mazur, Musabah Al Muhairi.
4.15pm: Handicap Dh90,000 1,800m
Winner: Tafaakhor, Sandro Paiva, Ali Rashid Al Raihe.
4.45pm: Handicap Dh80,000 1,950m
Winner: Cranesbill, Fabrice Veron, Erwan Charpy.
Scoreline
Swansea 2
Grimes 20' (pen), Celina, 29'
Man City 3
Silva 69', Nordfeldt 78' (og), Aguero 88'