Founded in 2018, iRocket (Innovative Rocket Technologies Inc.) of New York designs and builds fully autonomous, fully reusable small launch vehicles, leveraging additive manufacturing and novel propulsion systems to offer value in reusable rocket missions.
The Vision & Mission
iRocket’s motto, “Launch More. Wait Less.”, reflects its mission to dramatically reduce turnaround time for launches—targeting next-day readiness—and deliver affordable, frequent access to space. The company aims to support deploying small satellites, space services, Defense cargo, and even Earth‑to‑Earth logistics within the hour.
Technology: The Shockwave Rocket
At the heart of iRocket’s offering is Shockwave, a 125‑foot tall, 9‑foot-diameter, two-stage launch vehicle designed to carry up to 1,500 kg to LEO—with both stages, including fairings, landing back at the launch site for reuse.
Engine & Propulsion Innovation
- Propelled by liquid oxygen (LOX) and methane—a cleaner and more sustainable fuel mixture
- Multiple operating modes: Augmented, unaugmented boost and landing mode
- Engine boasts ~35,000 lb thrust and supports vertical precision landings with all thrusters active
- Uses 3D-printed components with additive manufacturing techniques
Shockwave is designed for flight-ready turnover in under 24 hours, with minimal refurbishing—emulating commercial airliners in operation cadence.
Partnerships & Government Support
- NASA (Space Act Agreement, 2021): Partnered with NASA’s Marshall Space Flight Center to accelerate development of reusable engines. NASA pledged up to $50M in support over five years.
- U.S. Space Force (2023): Received a $1.8M Tactical Funding Increase (TACFI) contract from AFWERX to conduct a full-duration static fire test and mature its LOX-methane engine for national security and logistics missions.
- CRADA with AFRL: A Cooperative Research and Development Agreement with the Air Force Research Laboratory supporting high-thrust test activities at AFRL facilities.
These collaborations signal trust in iRocket’s technology and mission capability.
Leadership & Strategic Moves
- CEO & Founder: Asad Malik, named among Space & Satellite Professionals International’s “20 Under 35” in 2023.
- Board Advisors: Notable additions include former Rolls-Royce CTO Paul Stein and retired U.S. Air Force veterans—aimed at boosting strategic capabilities, especially in the UK and DoD ecosystems.
Path to Public Market
In July 2025, iRocket announced a planned merger with SPAC BPGC Acquisition Corp., led by former Commerce Secretary Wilbur Ross, valuing the company at $400 M pre-money. Intended listing on the Nasdaq, the merger is expected to close in Q4 2025.
Going public via SPAC offers a path to raise capital for scaling its reusable launch systems and execute on long-term goals.
Use Cases & Market Opportunity
- LEO Satellite Launches: Quick, reusable access to smallsat and microsat constellations, remote sensing, IoT, biotech missions
- Defense & Logistics: Near-instant launch capability for space-cargo and rapid point-to-point delivery anywhere on Earth within an hour
- Last-Mile Space Services: Servicing or deploying assets in orbit, and potentially orbital manufacturing or debris mitigation.
According to projections from WEF and McKinsey, iRocket could compete in a space economy expected to be worth $1.8 trillion by 2035.
Strengths and Considerations
Strengths
- Fully reusable architecture: A rare capability in the small-launch market, enabling lower cost and faster turnaround
- Eco-sensitive propulsion: LOX/methane fuel offers sustainability edge
- Government collaboration: Partnership with NASA and Space Force validates technical maturity and strategic relevance
Considerations
- Small company scale: With fewer than a dozen employees as of mid‑2024, delivering high‑stakes hardware remains a tight margin task
- Late-to-market: Initial launch target has shifted; earliest commercial flight expected around 2027, leaving time for other small-launch competitors to solidify their position
Summary
iRocket is a bold player in the reusable rocket landscape—focused on autonomous, rapid-turnaround, eco-friendly launch systems for small payloads. Its Shockwave vehicle is engineered for full-stage reuse, quick relaunch within 24 hours, and flexible delivery options ranging from LEO orbit to rapid terrestrial cargo. Backed by NASA and U.S. Space Force, and heading toward a public listing in 2025, iRocket is positioning itself to redefine how we access and utilize space—particularly for small satellites and responsive logistics.
