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MirCorp Begins Search For Second Round Of Financing

MirCorp, Amsterdam, is in the process of raising up to US$100 million in a new round of funding. The additional funds would allow continued commercial operations of the work on the Mir space station through an initial public offering (IPO) of stock planned for late 2001. 

If the money can be raised, the next flight to Mir will take place this fall with Pavel Vinogradov and Salizhan Sharipov flying to the station, most likely in November. MirCorp has plans to fly a "citizen explorer", or space tourist, on the fall flight. The second flight would be followed by a third in early 2001, with the backup crew for the second flight, Talgat Musabayev and Yuri Baturin, expected to fly to Mir then. That third flight would initiate the beginning of "full-scale commercial operations" on the station.

MirCorp has a three-phase, ten-year plan for commercial use of Mir. The first phase, lasting through 2002, is to stabilize the station and prevent it from falling into disrepair. The second phase, through 2005, would upgrade portions of the station, including adding new solar panels and high-speed communications links. The third phase, lasting through 2010, would include the replacement of the core module of the station and the possible addition or replacement of other modules.

MirCorp is studying the use of a tether to maintain the station's orbit, a system that could save up to one Progress cargo spacecraft flight a year.  Work on the Mir Electrodynamic Tether System (METS), by Tethers Applications, is proceeding, having received U.S. State Department approval, and the system could fly as soon as this December.
  

Copyright 2001 - Andrews Space & Technology
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June 19, 2000

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