Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Top Stories

Failed moon landing caused by altitude miscalculation, Japan startup says

2023 05 26T080018Z 3 LYNXMPEJ4P06S RTROPTP 4 JAPAN ISPACE MOON - Global Banking | Finance

Failed moon landing caused by altitude miscalculation, Japan startup says

TOKYO (Reuters) – Japanese startup ispace inc’s failed Hakuto-R moon landing mission last month was caused by an altitude miscalculation that meant the spacecraft ran out of fuel, the company said on Friday.

Tokyo-based ispace lost connection with the Hakuto-R Mission 1 lander after the spacecraft attempted what would have been the world’s first commercial soft-landing on the moon’s surface.

The crash was the latest setback in Japan’s space programme. The national space agency in March had to destroy its new medium-lift H3 rocket after it reached space, and its solid-fuel Epsilon rocket failed after launch in October.

Improvements would be made for the next two missions, ispace said.

“Through these two missions, it is very important for us to increase our knowledge as much as possible to achieve stable commercialisation in the future,” ispace chief executive Takeshi Hakamada told reporters at the Japan National Press Club.

Whereas national space agencies dominated space exploration in decades past, numerous private players are competing in a new space race between the United States and its allies versus an increasingly ambitious China.

NASA has relied on Elon Musk’s SpaceX to carry many of its payloads into orbit, and last week the agency awarded a lunar lander contract to a team led by Jeff Bezos’ Blue Origin.

After launching its Hakuto-R lander aboard a SpaceX rocket with much fanfare in December, ispace shares made a blistering debut on the Tokyo Stock Exchange in April. But during the final landing phase in the early hours of April 26, ispace lost contact with the craft.

Shares in ispace surged to as much as 2,373 yen, more than 9 times their IPO price, in the days following their debut. They crashed to below 800 yen after the Hakuto-R’s failure, but have since recovered, last trading at 1,748 yen.

Photos of debris and an impact crater at the Hakuto-R’s intended landing site were released this week by NASA, which scanned the area with its Lunar Reconnaissance Orbiter.

An ispace investigation showed that after the vehicle passed over a large lunar cliff, a sensor software glitch caused a discrepancy between its actual and expected altitude, and after its fuel ran out, it plummeted the last 5 kilometres (3 miles) to moon’s surface.

A second ispace mission is scheduled in 2024, with another M1 lander due to carry the company’s own rover. From 2025, the company is set to work with U.S. space software developer Draper to bring NASA payloads to the moon, aiming to build a permanently staffed lunar colony by 2040.

 

(Reporting by Kantaro Komiya and Rocky Swift; Editing by Chang-Ran Kim, Barbara Lewis & Simon Cameron-Moore)

 

Global Banking & Finance Review

 

Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!


By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post