Startup Battlefield: Session 3 - Orbit Fab | Summary and Q&A

TL;DR

Orbit Fab is building gas stations in space to fuel satellites, solving the problem of satellites running out of fuel and being destroyed, leading to the loss of billions of dollars.

Key Insights

• 🥺 The space industry faces the issue of satellites running out of fuel, leading to their destruction and the loss of huge amounts of revenue.
• 🛰️ Orbit Fab addresses this problem by building gas stations in space and providing fueling services to satellites, saving costs and increasing productivity.
• 🚙 Their standardized fueling port and partnerships with various industry players ensure widespread adoption and customer demand.
• 😘 Capital requirements for Orbit Fab's system are lower compared to traditional space ventures due to their cost efficiency and optimized operations.
• 🛰️ Orbital refueling opens up opportunities for satellite servicing vehicles and leads to the creation of a bustling space economy.
• 🏁 The company's staged approach to funding and milestone achievement enables them to secure investment and demonstrate proof of concept.
• 🛰️ Orbit Fab's fueling system can work with new satellites equipped with the system, as well as legacy satellites through collaboration with satellite servicing companies.

Transcript

cars are an excellent transport solution because you can drive an almost unlimited distance with them and that's because there's an global network for distributing propellant or fuel but imagine if that network didn't exist and you had to tow around all the fuel that you would ever need that fuel would extend maybe a hundred yards down that's a lot... Read More

Questions & Answers

Q: How does Orbit Fab ensure high margins and cost efficiency in their business?

Orbit Fab has identified and resolved inefficiencies in the industry to bring down costs. They have secured partnerships for funding and have optimized their system to be low-cost and efficient, allowing for impressive gross margins.

Q: Can the fueling system work with legacy satellites?

While the fueling system cannot directly work with legacy satellites, it can be adopted by satellite servicing companies. These companies can use the system to refuel their tow trucks, significantly increasing their productivity and changing the economics of satellite servicing.

Q: How does Orbit Fab handle the capital requirements for their system?

The capital requirements are staged, with different funding rounds for each milestone. They have recently closed a seed round of $3 million, which will cover the launch of their first operational tanker. Proof from this milestone will enable them to secure more customers and contracts.

Q: Have the fueling ports been tested to ensure they can withstand the space environment?

Yes, Orbit Fab has done the necessary designs and testing to ensure that the fueling ports can withstand the thermal, stress, and vacuum conditions in space. Further testing and additions, such as solar arrays and avionics, are planned before the tanker becomes fully operational.

Summary & Key Takeaways

• Orbit Fab builds tanks and delivers fuel to satellites in space, allowing them to be refueled safely and reliably in orbit.

• By providing fueling services in space, Orbit Fab helps satellite owners save 50% on capital expenditure and achieve gross margins of 90%.

• The company has developed a standardized fueling port and has secured contracts with the US Air Force, Japanese conglomerate IHI, and others.