Swiss Space Systems Declares Bankruptcy

SOAR spaceplane atop an A-300. (Credit: S3)
SOAR spaceplane atop an A-300. (Credit: S3)

A court in the Swiss canton of Vaud declared Swiss Space Systems (S3) bankrupt last Wednesday, according to media reports.

S3 has been developing an air-launch satellite booster and had planned to offer parabolic aircraft flights to the public later this year.

The bankruptcy declaration comes after nearly two years of financial difficulties. Members of the U.S. office departed the company at the end of 2015 after going much of the year without being paid.

Founder and CEO Pascal Jaussi was hospitalized in August with serious burns. He told authorities two men forced him to drive to a remote area where they doused him with gasoline and set him on fire.

Swiss Space Systems CEO Set on Fire

Swiss_Space_Systems_logoSwiss Space Systems CEO Pascal Jaussi is recovering in the hospital after being set on fire by unknown assailants, according to media reports. He suffered burns over 25 percent of his body.

According to the Tribune de Genéve newspaper, Jaussi was abducted and taken to a wooded area in canton Fribourg where he was doused in inflammable liquid and set on fire. The canton’s prosecution service told the Swiss News Agency on Monday that it had opened an investigation into the incident that took place on August 26.

The Tribune reported that Jaussi had been in touch with police in recent months about threats he had received about his work with Swiss Space Systems.

The company has been developing an air-launched system to place small satellites into orbit. It also plans to introduce microgravity flights aboard a modified airliner later this year.

Swiss Space Systems has had financial difficulties. Its American office was closed last year. Sources said U.S. based personnel had no been paid for much of 2015. They also report that the company had difficulty making payroll in Switzerland.

S3 Partners With Fert to Market ZeroG Experience

Swiss_Space_Systems_logoGENEVA (S3 PR) — A week after completing the acquisition of an Airbus A340-300, S3 announces an exclusive partnership with the travel agency Fert Travel and its international network ITP for the worldwide marketing of S3 ZeroG flights.

Fert & Cie is working in partnership with S3 for the marketing of its ZeroG flights. The Geneva-based agency will also assist S3 passengers with the organisation of ancillary services such as flights as well as bespoke hotel accommodation through the International Travel Partnership (ITP) network.

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Swiss Space Systems Secures A-340 Airliner for Parabolic Flights

The Airbus A340-300 aircraft registered as 9H-TQM, to be painted very soon to the S3 "Black" livery. (Credit: S3)
The Airbus A340-300 aircraft registered as 9H-TQM, to be painted very soon to the S3 “Black” livery. (Credit: S3)

LISBON, Portugal (S3 PR) — Aerospace company Swiss Space Systems (S3) announces the completion of its Airbus A340-300 acquisition, in order to commercially operate ZeroG flights in 2016 and 2017, a world premiere.

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S3 Postpones Zero G Flights, IPO Amid Financial Trouble

SOAR spaceplane atop an A-300. (Credit: S3)
SOAR spaceplane atop an A-300. (Credit: S3)

Swiss Space Systems (S3) announced on Friday that it had postponed plans to offer zero gravity flights and launch an initial public offering (IPO) amid reports that the company is experiencing serious financial difficulties that include missed paychecks for salaried employees.

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Swiss Space Systems Announces Partnership with UAE Company

SOAR spaceplane atop an A-300. (Credit: S3)
SOAR spaceplane atop an A-300. (Credit: S3)

PAVERNE, Switzerland (S3 PR) — Swiss Space Systems (S3) – A satellite launcher for the Middle East Dubai, UAE / Payerne, Switzerland, the 30th of September, 2015 – Swiss Space Systems (Holding) SA, through its subsidiary S3 Middle East, announces major partnership with D&B Group to deliver access to space to the Middle East. The goal is to develop, manufacture, certify and operate unmanned suborbital shuttles to locally launch small satellites up to 250 kg by 2019.

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S3 Plans IPO

Swiss_Space_Systems_logoPAYERNE, Switzerland, March 12th, 2015 (S3 PR) – Swiss Space Systems (S3) announced last September negotiations with investors. This process was a success and will conclude with an Initial Public Offering (IPO) to come later in 2015, enabling S3 to consolidate its financial status and to grow in order to reach its goals.

Before its Initial Public Offering, Swiss Space Systems wishes to give the opportunity to the general public to take part in this unique entrepreneurial space adventure. 5% of the equity will be opened, with 1% to be distributed to its employees. S3 will later on give the opportunity to the general public to enter its equity, up to 4%.

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Swiss Space Systems Expands Into Croatia

Swiss_Space_Systems_logoZAGREB, Croatia, February 16, 2015 (S3 PR) — The aerospace company, Swiss Space Systems (S3), officially inaugurated its daughter company, Swiss Space Systems Croatia, in the presence of the Ambassador of Switzerland in Croatia, as well as representatives of the national and local authorities and international guests from the aerospace sector.

The company is located in Zagreb and Sladjan Zovko is its General Director. For the S3 Group, this inauguration represents a new important step in its expansion in Europe, as Croatia will play an important role in different parts of the S3 program.

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Front Range Airport Near to Submitting Spaceport Application

Front_Range_AirportKUNC Radio reports that Front Range Airport near Denver is close to completing a spaceport application for review by the Federal Aviation Administration. The airport already has a potential space tenant.

One of those businesses is Switzerland based S3, who last year signed a memorandum of understanding to house its North American headquarters in Adams County.

S3 is developing a flight system similar to Virgin Galactic, but instead of offering space tourism, [Airport Manager Dave] Ruppel said the company will focus on satellites.

“When you look at aerospace and commercial space development, Colorado is already a leader,” Ruppel said, citing broad support for the project from the likes of the Governor to area businesses.

Read the full story.

S3 to Begin Zero Gravity Flights in Switzerland

S3_zerog_flight_profile
PAYERNE, Switzerland, Nov. 25, 2014 (S3 PR) —
In 2015, Swiss Space Systems (S3) will put the ZeroG experience within everyone’s reach. S3 is launching affordable zero gravity flights from more than 15 locations across the world including, for the first time ever, Asia, the Middle East and Central America. The ZeroG world tour has been modified and will now start from Switzerland, during the second half of 2015, before heading to Canada and the US in 2015. During the 1st semester of 2016, the tour will then start from Asia before heading to the Middle East and Europe in some of the destinations previously scheduled for 2015, with new destinations added to this new schedule.

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Swiss Space Systems Completes First Phase of Drop-Test Campaign

Drop test (Credit: S3)
Drop test (Credit: S3)

NORTH BAY, ONT. CAN — S3 has concluded the first phase of a drop-test flight campaign with the help of Canadore College and its partners in North Bay.

These first test flights were done with the purpose of testing and validating avionics systems, drone systems, Guidance-Navigation-Control instruments and various sensors.

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Space Florida, Israel’s Chief Scientist Announce Joint Call for Projects

space_florida_logoKENNEDY SPACE CENTER, Fla., November 6, 2014 (Space Florida PR) – Earlier this week, Space Florida and MATIMOP (Israel’s industrial center for research and development on behalf of the Israeli Chief Scientist Office), issued a joint Call for Projects to fund research and development projects sponsored by companies in both states.

In October 2013, the States of Florida and Israel formed an annually recurring $2 million joint program to support research, development and commercialization of aerospace and related technology projects that benefit both States.

Israeli and Florida-based companies are asked to present cooperative proposals, which will be jointly vetted for feasibility, and research funding will be awarded to companies demonstrating the most promising partnerships – those that demonstrate near-term potential for commercialization and economic benefit to both states.

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Space Florida-Israel Innovation Program Announces Awards

space_florida_logoKENNEDY SPACE CENTER, Fla., September 17, 2014 (Space Florida PR) – Space Florida and MATIMOP (Israel’s Industrial Center for Research and Development), on behalf of the Office of the Chief Scientist (OCS) in the Israeli Ministry of Economy, are pleased to announce the first-round winners of industrial research and development funding tied to the Space Florida-Israel Innovation Partnership Program.

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Swiss Space Systems, SpacePharma to Develop Life Science Communications System

Swiss_Space_Systems_logoKENNEDY SPACE CENTER, Fla., September 2, 2014 (S3 & SpacePharma PR) — S3 USA Operations (Florida), Inc., a division of Swiss aerospace company Swiss Space Systems – S3, and SpacePharma R&D Lts (Israel) a fully owned subsidiary of Swiss SpacePharma SA, which specializes in solutions for medical experiments in microgravity, announce today having been selected as winners in a prize awarded by Space Florida in the Space Florida-Israel Innovation Partnership RFP for the development of a pioneering 2-way communications platform. This platform enables live data transfer between microgravity experiments onboard a Zero Gravity aircraft and a ground station.

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Swiss Space Systems Seeking Investors

SOAR spaceplane atop an A-300. (Credit: S3)
SOAR spaceplane atop an A-300. (Credit: S3)

PAYERNE, Switzerland, August 20, 2014 (S3 PR) –– Swiss aerospace company Swiss Space Systems – S3 aims to become the world leader in the small satellite launch segment, a market bound for impressive growth estimated at over $ 240 billion by 2020, with over 200 satellites expected to be launched to orbit every year. S3 is now officially announcing ongoing and upcoming discussions with prospective financial and strategic investors to further strengthen its position of European leader in this booming market.

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