Space Commodities Exchange expects to sell contracts for first units of propellant in Q4 of 2021
Chicago – February 23, 2021 – The US-based Space Commodities Exchange Inc (SCX) has started designing the first products that will signify a new age of commerce in space: Tradable commodities. The SCX expects to sell the first units of propellant in Q4 of 2021.
The SCX is an emerging space start-up applying free market “supply and demand” fundamentals to space commodities; From supplying fuel to satellites, to trading resources to and from Lunar bases, the Space Commodities Exchange is ensuring these commodities can be traded using existing regulated exchanges, to even out price volatility and to ultimately make space a more stable business environment.
The first tradable commodities are propellants that address the needs of a variety of satellites. While these early stage products are small in size (in the tens of kilograms), they establish a framework for larger volume trades. The SCX goals are to ultimately position propellant depots in strategic orbits, serving multiple customers.
Simon Drake, CEO of the SCX explains, “The recent intersection of the new technology required to make zero-G transfers possible, as well as a demand for in-space and on-orbit commodities, plus competing international Space policy initiatives to achieve the towering heights in space commerce, has kicked us out of stealth mode to make space commodities an actual trade; we want you to buy, hold or sell, commodities in space.”
The founders met in 2017, incorporated in 2019, and represent multiple skill sets building the emerging new space supply chain, from satellite-servicing, to investing, and regulated exchanges.
The SCX team are:
Simon Drake, Managing Director of Space Ventures Investors Ltd (UK) and Lunar Resources Registry UG (Germany)
Daniel Faber and Jeremy Schiel, of Orbit Fab.
David Hurst, CEO of Orbital Transports.
Brian Peterson, a top-25 market maker in oil and gas markets, also a designated market maker in new product launches on several global commodities exchanges.
For more information get in contact with Simon Drake, CEO of SCX, email@example.com.