ExPace

The company's business model centers on providing cost-effective and reliable launch services for commercial clients. Initially, ExPace operated on a "retail" model, building rockets only after receiving an order. However, by 2022, increasing demand prompted a shift towards mass production, involving the pre-production of standardized components to shorten contract fulfillment times. This transition to an industrialized production model aims to meet the market's need for low-cost, high-frequency launches. The company has raised significant capital to fund its expansion, securing $182 million in a 2017 Series A round and an additional $237 million in a 2022 Series B round.

ExPace's primary offering is the Kuaizhou (KZ), or "fast vessel," series of solid-fuel launch vehicles. This technology is derived from Chinese missile systems, which allows the rockets to be stored for rapid deployment. The Kuaizhou-1A (KZ-1A) is capable of placing a 300 kg payload into low Earth orbit and has become the most frequently launched solid rocket in China, completing 26 missions and deploying 56 satellites for various applications like remote sensing and communications. To accommodate larger payloads, ExPace developed the Kuaizhou-11 (KZ-11), which can carry up to 1,000 kg to a sun-synchronous orbit. While the KZ-11's first launch in 2020 failed, it achieved its first successful flight in December 2022. Looking ahead, the company is also developing reusable liquid-propellant rockets, having successfully completed a vertical takeoff and landing test with a prototype in January 2024.