The Innospace Hanbit rocket. Photo: Innospace

Apogeo Space, an Italian space company, is teaming up with Korean launch company Innospace as looks to launch and complete its IoT picosatellite constellation by 2027. Apogeo Space aims to create Italy’s first private satellite constellation to provide telecoms services for IoT devices. The deal was announced April 18.

The deal with Innospace sees Apogeo Space acquire multi-unit launches, starting in the second half of 2025. The agreement consists of the management, over the period 2025-2027, of three Low-Earth Orbit (LEO) launches and releases of Apogeo Space’s picosatellites that will populate Italy’s first private constellation dedicated to IoT.

Innospace is developing the HANBIT family of launch vehicles (HANBIT-Nano, HANBIT-Micro, and HANBIT-Mini) using unique hybrid propulsion technology with a paraffin and liquid oxygen propellant combination.

“We are delighted to announce this multi-launch agreement with Apogeo Space and are very proud to undertake the three space missions to deploy the IoT picosatellite constellation. Innospace supports the vision of Apogeo Space as an innovative space partner. Our small satellite launch vehicle, HANBIT, will provide reliable launches to assist in building the constellation with precision deployment to orbits,” Soojong Kim, CEO and founder of Innospace, said in a statement.