BARRY-1 ORBITAL SERVICE VEHICLE LAUNCHED INTO SPACE
Gilford-based Rogue Space Systems, creator of Orbots — autonomous AI robots that provide in-space infrastructure and services — announced the successful launch and deployment of its first spacecraft, Barry-1. The satellite was launched on SpaceX’s Transporter-9 mission via Exolaunch on Nov. 11.
Once operational in Low Earth Orbit, Barry-1 will test Rogue’s Scalable Compute Platform and its ability to aggregate data from multiple sensors and process that data in real time.
Additionally, Rogue will be performing on-orbit testing of internal and customer-developed algorithms. The satellite will be equipped with a range of sensors that will collect data on various aspects of spaceflight, including radiation levels, temperature and atmospheric conditions.
“We are thrilled by the successful launch of Barry-1 into orbit,” said Jeromy Grimmett, founder and CEO of Rogue Space Systems. “Rogue is building a generation of autonomous robotic spacecraft that will be foundational to the in-space economy. The team’s vision for the future of our company and space is bold, and our journey to achieving that vision will be wrought with challenge. But the team, with the support of our tremendous community, will be successful. Barry-1 is our first step.”
STATE RECOMMENDS FINANCING FOR SIG SAUER EXPANSION
For the third time in three years, the Business Finance Authority is recommending state taxpayer-backed financing for expansions at SIG Sauer, the state’s largest gun manufacturer.
On Nov. 15, the Executive Council was set to consider providing $33.1 million in loan guarantees for a plant upgrade for SIG Sauer at its business campus in Rochester.
The work would include making renovations to an existing, 89,000-square-foot building the state owns and currently leases to the company.
SIG Sauer also seeks to build a 27,700-square-foot expansion on the same site at 7 Amarosa Drive in Rochester.
Site improvements would also consist of additional parking, a new driveway, and a traffic circle at Milton Road in Rochester.
In March 2022, the council voted 4-1, to provide a $16 million loan to SIG Sauer to build a new complex in Epping that included an indoor shooting range, conference center and museum.
Under that proposal, the BFA paid for the project and then leased the space back to SIG Sauer for 10 years.
At the end of the term, SIG Sauer will purchase the building, and cover property tax expenses throughout the life of the deal.
In November 2020, the council approved $21 million in financing an unconditional state guarantee of up to $19 million for the company.
This money was to relocate its Dover operation to a 210,000-square-foot campus in Rochester’s Crossroads Industrial Park on Milton Road.
The decision came after SIG Sauer had just received a $77 million contract to supply the U.S. Army with weapons.
While some gun control activists opposed the financing request in 2020, Rochester city officials said it would provide 300 high-paying jobs.
The council approved it, 4-0.
STOCK UPDATES
The S&P 500 dropped after posting nine positive days out of 10 — a level of consistency seen less than 1% of the time this century and last observed in the fall of 2021.
Treasuries fell across the curve, with 10-year yields approaching 4.7%. The dollar rose against most if its major developed-market peers.
Wall Street will also keep a close eye on Washington negotiations to avert a U.S. government shutdown — an event that would threaten the loss of the nation’s last top credit rating.
Worries about an economic downturn aren’t enough to dissuade market participants from being bullish on risky debt as their top contrarian trade, according to the latest Bloomberg Markets Live Pulse survey.
Despite heavy outflows in 2023 and warnings about the health of heavily indebted companies, 52% of 506 respondents see opportunities in high-yield bonds, while remaining more cautious on some including regional bank debt and commercial real estate loans.
Elevated mortgage rates and record-high home prices are poised to put an end to the home-improvement spending boom that drove growth at Home Depot Inc. and Lowe’s Cos. over the pandemic period.
