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London Evening Standard - 2021-11-25

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Seraphim invests $12.5m in space junk removal firm

Puzzles & Games

Simon Freeman

SERAPHIM has taken a $12.5 million stake in a satellite servicing group which is developing technology to extend the life-span of satellites orbiting the Earth. Hong Kong-based Astroscale’s international team is building magnetic docking vehicles with the capability to inspect, mend, repurpose or remove failing space hardware. The aim is to cut down on the growing belt of space junk piling up in the Earth’s lower orbit as the cost of launching commercial satellites — used in communications, defence and climate research — continues to fall. Today’s announcement marks the London-listed space-focused fund’s first investment in Asia, and values the target company at just over $100 million.

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