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brazilIts growing space ambitions have suffered a significant setback when the inaugural commercial rocket launch from its Alcantara Space Center ended in a crash shortly after takeoff.
Shares have also been shocked by this incident South Korean Satellite launch company Innospace.
The rocket initially followed its planned vertical trajectory after taking off at 10:13 pm local time (0113 GMT). However, according to Innospace CEO Kim Soo-jong, only 30 seconds into its flight, the spacecraft crashed to the ground due to an unspecified malfunction.
Fortunately, the accident occurred within a pre-designated safety zone, causing no injuries, with the Brazilian Air Force dispatching firefighters to assess the debris and impact area.
In a letter to shareholders posted on the company’s website on Dec. 23, Mr. Kim expressed deep regret. He said, “We deeply regret that we failed to meet the expectations of our shareholders who supported our first commercial launch.”
Innospace shares fell nearly 29% in Seoul in the biggest daily decline and heaviest daily trading volume since its July 2024 listing.
A failed satellite launch in Alcântara in 2003 killed 21 people, including senior engineers, when a rocket exploded on the launchpad, setting Brazil’s space program back a generation.
Plans by foreign companies to resume satellite launches from Alcantara, strategically located near the equator, were delayed over the past decade due to geopolitical turmoil, including competing offers of partnership with the United States and Russia.
The launch of the HANBIT-Nano vehicle was continuously delayed this month, delaying the launch by five days.
Innospace had earlier said in a statement that the launch was initially postponed due to a mechanical anomaly in a cooling-unit component, which was found during final inspection.
It said Innospace replaced the component on the launchpad, allowing the Spaceward mission to proceed within the December 16-22 launch window. It was launching eight registered cargo, including five small satellites, for unknown customers.
Although the mission did not go as planned, data collected from the rocket’s short flight represents “a significant accomplishment,” Innospace said, adding that the company plans to attempt another commercial launch in the first half of 2026.
In March 2023, Innospace launched its test vehicle HANBIT-TLV from the same facility in northeastern Brazil to verify the performance of its 150 kN hybrid rocket engine.