History
Astra was founded in October 2016 by Chris Kemp and Adam London.[23][24]
In late 2016, Astra moved into a building on the former Naval Air Station Alameda known as “Orion” due to its location at 1690 Orion Street, Alameda, CA 94501.[25][26] This former naval jet engine testing facility provided the ability to perform in-house single engine testing. Due to Naval Air Station Alameda's vast retired runways, the company was able to perform full vehicle testing very close to their headquarters, eliminating the need for expensive and complex logistics for rocket testing.[27]
During early to mid 2019, most non-test related employees moved from the Orion building into a new building at 1900 Skyhawk Street, Alameda, CA 94501,[28] known as "Skyhawk". This allowed a large expansion of a previously cramped machine shop, additional in house machining capabilities, and a rocket production line in anticipation of Rocket 3. Additionally, this building has a number of known chemical contaminants[29] due to its history as a Naval jet engine overhaul facility (Building 360)[28] and is now designated as part of Naval Air Station Alameda Superfund site.[30][31]
Two suborbital test flights were conducted in 2018 from Pacific Spaceport Complex – Alaska (PSCA): one on 20 July 2018 (Rocket 1.0), and one on 29 November 2018 (Rocket 2.0). Both were stated to be launch failures by the Federal Aviation Administration.[32][33] However, Astra stated that both were successful and the second one was "shorter than planned".[34] Astra spent 2019 designing and building Rocket 3.0 integrating propulsion systems, avionics, and other pressurization/plumbing components into a high-performance electric pump-fed orbital launch vehicle.
From 2018 to 2020, Astra was a contender in the DARPA Launch Challenge; first, as one of three teams, although at this point Astra kept its involvement secret and was only referred to as "stealth startup" by the Challenge organizers. Then as the other two teams dropped out, Astra remained as the only team in the competition. The competition involved launching two small satellite payloads into orbit from two different launch sites in the U.S. with approximately two weeks between launches. Astra attempted to perform a launch for the Challenge in late February – early March 2020 from PSCA, but had to scrub the launch attempts (due to faulty sensor data) and in the end, did not launch a rocket for the Challenge. With the competition's only remaining team (Astra) being unable to launch a rocket within the set time frame, DARPA announced the DARPA Launch Challenge closed on 2 March 2020 with no winner. The prize of US$12 million went unclaimed.[35]
On 23 March 2020, Astra's Rocket 3.0 ("1 of 3"), the vehicle that was initially intended to launch as Astra's first rocket for the DARPA Launch Challenge, but which failed to launch within the challenge's launch window[36][37] and was subsequently reused for the next launch without DARPA involvement, suffered a fire on the launch pad (PSCA, Pad 3B[38]) prior to launch, destroying the rocket.[39] In September 2020, Astra attempted another orbital rocket launch, this time with their Rocket 3.1.[40] The rocket cleared the launchpad and began to ascend before a failure caused all the engines to shut down. The vehicle began to quickly fall back down to Earth, exploding on impact.[41] Next month, Astra was selected by the U.S. Air Force's AFWERX program to pursue the development of their Rocket 5.0, although it was not clear if the selection was tied to a specific monetary award.[42]
On 2 February 2021, Astra announced they planned to go public[44] through a reverse merger with special-purpose acquisition company Holicity in a deal that valued the rocket company at a $2.1 billion enterprise value.[45] Later in February, Astra announced the appointment of former Apple engineering leader Benjamin Lyon as its new chief engineer.[46]
On 7 June 2021, Astra announced their plans to acquire electric propulsion system manufacturer Apollo Fusion for $50 million, with the purchase being triggered by the merger with Holicity.[47]
In July, Astra completed its first day as a public company on the Nasdaq, the first publicly traded space launch and rocket company on the exchange.[48][49]
On 4 August 2022, together with the release of the Q2 2022 financial results, Astra announced that following two out of the previous four Rocket 3.3 launches being unsuccessful, they intended to fully transition to the upgraded Rocket 4, whose maiden flight has been subsequently rescheduled to 2023. Because of this, all remaining Rocket 3.3 launches had been cancelled and the company began talks with its customers to remanifest their payloads on Rocket 4.[50]
On 3 November, 2023, Astra disclosed in its U.S. Securities and Exchange Commission (SEC) filing that it defaulted on a $12.5 million debt financing agreement and could not assure it would be able to raise the necessary funds.[51][52]
In November 2023, Astra founders, Chris Kemp and Adam London, proposed a plan to privatize the company by acquiring all the outstanding stock, according to a filing with the U.S. Securities and Exchange Commission. The stock is offered at $1.50 per share, a significant premium over the closing trading price. The proposal is now under review by Astra's board of directors.[53] On 24 November, 2023, the company raised $2.7 million from existing investors to continue operations while it works out its long-term plan.[54] In March 2024, Astra's board agreed for the company to be taken private by its co-founders at a $11.25 million valuation.[55][56]
