Axiom Space and Mitsui & Co., Ltd. announce joint venture based in Japan

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HOUSTON and TOKYO, April 11, 2022 /PRNewswire/ — Building on the strategic partnership that Axiom Space and Mitsui & Co., Ltd. signed in September, and following Mitsui’s investment in Axiom Space, the partners initiated the formation of a joint venture in Japan to expedite in-orbit services to commercial and government customers. This unique partnership leverages both Axiom’s space capabilities and Mitsui’s global industrial reach.

Together, Axiom Space and Mitsui & Co., Ltd. open the doors for non-traditional users to take advantage of the benefits of space, including microgravity and the unique vantage point of low Earth orbit. These services expand international human spaceflight, research, manufacturing, and other opportunities at the International Space Station, and enhance a growing set of opportunities at Axiom Station, currently under construction.

Axiom and Mitsui have met and onboarded commercial customers in consumer electronics, entertainment, agri-tech, chemical-tech, marketing/advertising and other industries. The discussions also extended to government organizations, space agencies and NGOs. With the increase in the volume of activity of the partners in Japanthey are establishing operations together to support the rapidly growing customer base.

Axiom Space launched the world’s first fully private crew to the International Space Station on April 8, 2022. Back on Earth, Axiom now has $500 million in customer contracts, 420 employees and is on track to have closed more than $1 billion customer contracts before the end of 2022. The first sections of the Axiom station are scheduled to be launched into orbit in 2024 and 2025, where they will be connected to the ISS following verification and validation exercises. A few years later, the completed Axiom Station will detach, providing a direct path to adopt much of the ISS user base.

Commercial Director of Axiom Space Amir Blachman said, “We recognized Mitsui’s outstanding track record of building global industry partnerships in the government and commercial sectors. Together with Mitsui, we aim to accelerate the development of pharmaceuticals, medical devices and advanced materials that improve the quality of life on Earth. We will also integrate the capabilities of our companies to meet the growing demand for the deployment and maintenance of in-orbit satellites, cloud computing, entertainment and in-orbit exploration systems. »

Mitsui & Co., Ltd. is a global trading and investment company with a diversified business portfolio that spans approximately 63 countries in Asia, EuropeNorth, Center & South Americathe Middle East, Africa and Oceania with over 43,000 employees. Mitsui also has a growing footprint in space. The company was selected by the Japan Aerospace Exploration Agency (JAXA) as the service provider for the deployment of CubeSat from the Japanese KIBO module to the ISS, and was commissioned by JAXA to conduct the preliminary business concept study assuming the use of the KIBO pressurized module in JFY 2020.

“Mitsui has reached this milestone with Axiom because of its progress well ahead of other entities that have proposed building space stations,” said Kazutomi Shigeeda, general manager of Space Business at Mitsui & Co., Ltd. “Axiom’s unique partnership with the ISS program and physical connection to the ISS, its unrivaled leadership team, and progress with commercial and government customers, positions Axiom to lead the future of the industry in Earth orbit. low and we have already jointly started to develop these large markets.”

Together, the companies aim to take advantage of these advances and implement a common vision: to open the space to a large user base, provide data to help solve problems on a global scale, create products competitive and allow countries to continue to cooperate in space.

About Axiom Space

Axiom Space is driven by the vision of a thriving home in space that benefits every human being, everywhere. The premier provider of manned spaceflight services and developer of human space infrastructure, Axiom today operates end-to-end missions to the International Space Station while privately building its successor, Axiom Station, the first permanent commercial destination in Earth orbit that will support human growth off the planet and bring untold benefits back home. You can find more information about Axiom at www.axiomspace.com.

About Mitsui & Co., Ltd.

Mitsui & Co., Ltd. (8031:JP) is a global trading and investment company with a diversified business portfolio that spans approximately 63 countries in Asia, EuropeNorth, Center & South Americathe Middle East, Africa and Oceania. Mitsui has built a strong and diversified core business portfolio spanning the mineral and metal resources, power, machinery and infrastructure, and chemicals industries.

Mitsui has further diversified beyond its core profit pillars to create multifaceted value in new areas, including innovative energy solutions, health and nutrition and by strategically focusing on high-growth Asian markets. This strategy aims to generate growth opportunities by harnessing some of the key global megatrends: sustainability, health and wellness, digitalization and growing consumer power. For more information about Mitsui & Co’s businesses, visit www.mitsui.com.

SOURCE axiom space

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