Astroscale, the leading satellite servicing and debris removal company, has announced its plans to go public on the Tokyo Stock Exchange Growth Market in June. The company aims to offer 20.8 million shares in the initial public offering, with trading set to begin on June 5.

With offices in France, Israel, the United Kingdom, and the United States, Astroscale is spearheading the development of technologies for spacecraft servicing and orbital debris removal. One of their flagship projects is the Active Debris Removal by Astroscale-Japan (ADRAS-J) mission, which involves inspecting the upper stage of a Japanese H-2A rocket left in orbit as a precursor to its deorbiting.

Astroscale has garnered significant funding through various private rounds, totaling over $375 million. In February 2023, the company secured $76 million in a Series G funding round, with Mitsubishi Electric making a strategic investment. The majority of these investments have come from Japanese investors.

According to the company's recent exchange filings, Astroscale reported a revenue of 1.79 billion yen ($11.3 million) in the fiscal year ending in April 2023, almost doubling its revenue from the previous year. However, the company also experienced a net loss of 9.26 billion yen in the same fiscal year, compared to a net loss of 5.48 billion yen in the previous year.

Astroscale will become the third Japanese space company to go public in just over a year. Lunar lander developer ispace went public in April 2023, followed by the Institute for Q-shu Pioneers of Space (iQPS) in December 2023.

In addition to their public listing, Astroscale has been selected by the Japanese space agency JAXA for the second phase of its Commercial Removal of Debris Demonstration (CRD2) program. This phase will involve developing and launching a mission to grapple and remove the upper stage that is currently being inspected by ADRAS-J.

Eddie Kato, the president and managing director of Astroscale Japan, expressed enthusiasm for the upcoming challenge, emphasizing the importance of addressing the space debris issue for future generations.

Although no specific schedule has been provided for the launch of the second mission, Astroscale stated that the ADRAS-J mission will be completed by the end of May. The company looks forward to demonstrating its capabilities in removing and deorbiting larger debris, contributing to a sustainable environment in space.

As Astroscale prepares for its public debut, the market eagerly anticipates its performance and the advancement of its groundbreaking technologies in satellite servicing and orbital debris removal.