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22 hours ago 2 min read
Utah-headquartered digital infrastructure company Datacentrex has taken a minority stake in Florida-based fuel supplier Eagle LNG to support domestic space launch buildout.
Datacentrex purchased a 10.5% stake for $30m through Eagle LNG’s holding company ELNG Equity.
Eagle LNG produces high-methane, aerospace-specification liquefied natural gas (LNG) used in reusable launch vehicles, with a contracted customer base in the space propulsion market.
LNG is used in the aerospace sector as a source of liquid methane rocket fuel, typically used with liquid oxygen (LOX). It can also support spaceports through fuel storage, transport, and power generation.
Parker Scott, CEO of Datacentrex, said, “The US is setting out to multiply its launch cadence several times over this decade…we would rather own a position in the supply chain underneath that growth than try to pick which vehicle wins.”
In parallel, and at the same value per unit, an affiliate of The Energy & Minerals Group (EMG) is investing $10m in Eagle LNG. Funds managed by EMG are Eagle LNG’s controlling sponsor and an existing investor.
US space propulsion and LNG infrastructure investment
In August, plans for LNG production and storage infrastructure at the Kennedy Space Center (KSC) and Cape Canaveral Space Force Station (CCSFS) took a step forward, following by Brevard County commissioners.
Florida has a cluster of LNG projects. One of the most notable is Eagle LNG’s proposed project in North Jacksonville, which has a planned capacity of around one million tonnes per annum (mtpa).
According to market research, the global space propulsion market is expected to increase from $7.31bn in 2021 to $19.74bn in 2028. North America held the largest global market share of 37.72% in 2020.
