NanoRacks LLC (→ Voyager Technologies → Starlab Space)¶
FO Project: 93991 — Centrifuge for New Shepard Last updated: 2026-04-07 (Session 85) — NASA Ignition RFI disrupts CLD landscape; 35 milestones; LambdaVision customer; defense surge 59% YoY; Starlab now ~2029
Summary¶
NanoRacks flew one FO project: a centrifuge for Blue Origin's New Shepard to study partial-gravity effects on biological and physical systems. The FO project itself was modest (TRL5→6, 2017–2019). But NanoRacks is the single best example of an FO company that grew into a commercial space station prime — not because of this specific FO project, but because FO participation was one node in a decade-long arc of ISS commercialization that culminated in the Starlab CLD contract.
Chain: FO centrifuge (New Shepard, 2017–2019) → Voyager Space acquisition (2021) → Starlab CLD contract (2021–present) → Voyager IPO NYSE: VOYG ($3.8B, Jun 2025) → Starlab CCDR passed (Feb 2026, 35 milestones) → launch on Starship (~2029) → CLD Phase 2 ($1–1.5B) uncertain — NASA Ignition RFI (Mar 2026) proposes ISS-anchored alternative
Downstream tracked: $60.2M+ NASA contracts (USASpending) + $183.2M inception-to-date Starlab milestone cash + CLD Phase 2 pending (policy in flux)
FO Project Details¶
Project: 93991 — "A New Spin on Suborbital Microgravity Research: Developing a Centrifuge for Blue Origin's New Shepard"
Period: 2017-06-01 to 2019-10-11
TRL: 5 → 6
TX: TX06.3.6 Long-Duration Health
PI: Julia L. Wolfenbarger (NanoRacks); Co-I: Michael D. Lewis
Vehicle: Blue Origin New Shepard
What it was: NanoRacks designed a centrifuge to interface with New Shepard payloads, giving researchers access to tunable partial-gravity environments (lunar 1/6g, Martian 1/3g) without relying on ISS crew time. Goal: broaden the research utility of suborbital flights.
What it achieved: TRL5→6. Centrifuge validated for New Shepard integration. No dedicated Starlab connection — this was ISS-adjacent R&D that built NanoRacks' capabilities in microgravity hardware systems.
NanoRacks Background (Pre-FO)¶
Founded ~2009 by Jeff Manber. NanoRacks pioneered commercial ISS utilization: - First commercial ISS payload rack (NanoRacks Platform) - First commercial CubeSat deployer from ISS (NanoRacks NRCSD, operational ~2014) - First commercial airlock on ISS (Bishop Airlock Module, launched Dec 2020) - HUNCH program: high school students manufacturing ISS hardware
By 2017 (FO project), NanoRacks already had a substantial NASA contract base from ISS operations.
Post-FO Trajectory¶
Voyager Space Acquisition → IPO¶
Voyager Space acquired NanoRacks in 2021. Rebranded as Voyager Technologies, Inc. and went public on NYSE (ticker: VOYG) on June 11, 2025.
- IPO raised $402.3M net at $31.00/share (14.2M shares); valuation ~$3.8B
- Underwriters: Morgan Stanley and J.P. Morgan
- FY2025 revenue: $166.4M (+15% YoY)
- FY2025 net loss: $116.1M
- Year-end 2025 backlog: $265.6M total ($146.1M funded), +33% YoY
- 2026 revenue guidance: $225M–$255M (increased from prior range)
- Total liquidity end of 2025: $704.7M (IPO proceeds)
- Defense & National Security segment: Record Q4 net sales $46.7M; 59% YoY growth driven by Next Generation Interceptor, classified programs, and propulsion/energetics pipeline. Defense is now the revenue engine — missile defense demand driving acceleration.
- Five acquisitions in 2025 including ExoTerra Resource (propulsion) and Estes Energetics
- March 2026: Strategic investment in Max Space (~$10–20M, expandable lunar habitats)
- Vivace selected as Starlab manufacturing partner
Starlab Commercial Space Station¶
December 2, 2021: NanoRacks (prime) + Voyager Space + Lockheed Martin awarded $160M NASA CLD contract for Starlab commercial space station. Design: single-launch station for 4 astronauts, large inflatable Lockheed-built habitat, metallic docking node, power/propulsion element, robotic arm, George Washington Carver Science Park.
January 2024: Voyager Space + Airbus finalized joint venture: Starlab Space LLC. January 31, 2024: Starlab selected SpaceX Starship as launch vehicle. February 23, 2026: Starlab completed Commercial Critical Design Review (CCDR) — 35 milestones accomplished to date under existing CLD contract. Transitioned from design to manufacturing. $183.2M inception-to-date milestone cash received (as of end 2025; $56M in 2025 alone). Target launch: ~2029 on Starship (slipped from ~2028), with 2-year ISS overlap goal before 2030 retirement.
Expanded JV partners (since Jan 2024): - Mitsubishi Corporation — equity partner, customer (Jan 12, 2026: reserved/pre-purchased payload capacity, board seat via Issei Shinohara), Japanese research programs in drug discovery, nanomedicine, semiconductor manufacturing - MDA Space — equity partner (robotic arms) - Palantir Technologies — equity partner (data/AI) - Space Applications Services — equity partner - Strategic partners: Hilton, Journey, Northrop Grumman, The Ohio State University
Commercial customers: - LambdaVision (Feb 24, 2026) — reserved payload slots + commercial space for protein-based artificial retina manufacturing in microgravity. CT-based biotech; ISS-proven process preparing for post-ISS scale-up. - Starlab's commercial payload capacity fully oversubscribed — significant commercial viability signal.
CLD Phase 2 — POLICY IN FLUX: - CLD Phase 2 (C3DO) was expected 2026. Projected $1B–$1.5B total FY2026–FY2031 across minimum two awardees. Formally on hold since Jan 28, 2026 pending policy alignment. - NASA Ignition RFI (March 25, 2026): NASA issued an RFI proposing an ISS-anchored Core Module alternative — a government-owned module that commercial stations would attach to, validate operations, then detach into free flight. Responses due April 8, 2026. This represents a fundamental shift from the original CLD approach (fully commercial free-flyers). The Register: "Commercial space to NASA: stop moving the goalposts." - Industry reaction mixed: Axiom (already ISS-attached) benefits from this approach. Starlab (free-flyer design) and Blue Origin (Orbital Reef free-flyer) may need to adapt. Axiom's interim CEO has stated the market may not support more than one commercial station. - Voyager response (March 25, 2026): Dylan Taylor: "NASA's Ignition directives map directly to what we've been building." Voyager positioned Starlab as compatible with the new approach, but specifics on how a free-flying station adapts to an ISS-anchored model are unclear. - Risk assessment: The Ignition RFI introduces SIGNIFICANT uncertainty into Starlab's timeline and business model. If NASA proceeds with the Core Module approach, it could delay CLD Phase 2 awards, alter the technical requirements, and potentially favor ISS-attached designs (Axiom). Voyager's defense revenue growth provides a hedge.
HUNCH contract renewed: January 2026 — Voyager Technologies continues as program support provider (24,000+ students, 1,700+ schools, 3,000+ items flown to ISS). New task orders: FY25 ($1.13M, 80JSC025F7054) + FY26 ($1.07M, 80JSC025F7073).
NASA Contract Base (USASpending, Page 1)¶
| Award | Amount | Description |
|---|---|---|
| NNH17CL01C | $11.24M | Rocket upper stage habitat feasibility study |
| 80JSC023F0132 | $6.46M | HUNCH Task Order 3 (high school hardware) |
| 80JSC024F0094 | $5.40M | HUNCH Task Order 4 |
| 80JSC022F0237 | $5.23M | ISS operations |
| 80JSC018F0163 | $4.94M | First 6 airlock cycles |
| 80JSC021F0232 | $4.30M | ISS operations |
| 80JSC024FA069 | $3.26M | NRAL and GAMBIT data (2024–2026) |
| 80JSC020F0276 | $2.69M | CubeSat launch initiative |
| 80JSC025F7054 | $1.13M | HUNCH FY25 (Jul–Sep 2025) |
| 80JSC026F0018 | $1.23M | Palomino Pathfinder 3 (PP3) payload (Feb 2026–Sep 2027) |
| 80JSC025F7073 | $1.07M | HUNCH FY26 (Oct 2025–Sep 2026) |
| Multiple smaller | ~$12.3M | CubeSat deployments, ISS services |
| Total tracked | ~$60.2M | NASA only (excludes Starlab SAA) |
Note: The $217M+ Starlab CLD contract is a Space Act Agreement (SAA), separate from USASpending tracked contracts above.
Attribution Assessment¶
Is the FO centrifuge causally linked to Starlab?
Indirect. The FO centrifuge (TRL5→6) built NanoRacks' expertise in partial-gravity research hardware and New Shepard platform integration. This expanded their research-utility toolkit, which complemented their ISS commercial ops track record. But the primary driver of the Voyager/Starlab outcome was NanoRacks' ISS commercial operations portfolio (airlock, CubeSat deployers, HUNCH), not the FO centrifuge specifically.
Pattern: FO centrifuge = one capability-building node in a company that had a clear commercial vision and multiple parallel programs. NanoRacks was already commercially mature when it did the FO project.
Confidence: confirmed (NanoRacks → Voyager → Starlab chain) | suggestive (FO centrifuge contributing to overall capability)
Outcome Category¶
- Corporate Acquisition → IPO (Voyager acquired NanoRacks 2021 → NYSE: VOYG Jun 2025, $3.8B valuation)
- Commercial Space Station (Starlab CLD, $183.2M+ received to date, $1–1.5B Phase 2 pending)
- ISS Commercial Operations (ongoing $55.9M+ NASA contract base)
Confidence¶
| Claim | Confidence | Evidence |
|---|---|---|
| FO centrifuge TRL5→6 | confirmed | TechPort |
| Voyager IPO $3.8B Jun 2025 | confirmed | BusinessWire, Payload Space |
| FY2025 revenue $166.4M | confirmed | Voyager earnings release (Mar 2026) |
| $183.2M Starlab milestone cash | confirmed | Voyager FY2025 financials |
| 35 CLD milestones completed | confirmed | Voyager press release (Mar 2026) |
| Defense 59% YoY growth | confirmed | Voyager Q4 2025 earnings |
| LambdaVision Starlab reservation | confirmed | BusinessWire (Feb 24, 2026) |
| Starlab launch ~2029 | suggestive | SpaceNews (slipped from ~2028) |
| CLD Phase 2 $1–1.5B | uncertain | NASA Ignition RFI (Mar 2026) proposes alternative; policy in flux |
| FO centrifuge → Starlab causal link | suggestive | Indirect capability building |
Cross-References¶
- tyvak-terran-orbital.md — Tyvak → Lockheed Martin: another acquisition pathway
- made-in-space.md — Made in Space → Redwire: another ISS commercial acquisition
- Starlab competes with Axiom, Vast (Haven-1 targeting 2026 launch), Blue Origin (Orbital Reef) for post-ISS destination
- ISS certified through end of 2030; SpaceX USDV for deorbit
- NASA Ignition RFI (Mar 2026) could reshape CLD landscape — see fo-mission-infusion-summary.md
Investigated: Session 5 (2026-04-06). Updated Session 85 (2026-04-07). Sources: TechPort [93991], USASpending, Voyager Technologies SEC filings/Q4 2025 earnings, SpaceNews, Starlab Space press, BusinessWire, NASA Ignition RFI (Mar 25 2026).