U.S. Space Force / Joshua Conti · public domain
Vast
Overview
Private-capital commercial space station company founded by Jed McCaleb (Stellar/Ripple co-founder). Two-phase strategy: Haven-1 — a small standalone commercial space station (~3.3m diameter, 10m long) targeting launch NET Q1 2027 on a SpaceX Falcon 9 as a proof-of-concept (delayed from earlier 2025/2026 targets); followed by Vast Station — a larger, modular follow-on. SpaceX partnership covers both launch (Falcon 9 for Haven-1) and crew transport (Crew Dragon for the Vast-1 private astronaut mission). No institutional VC funding — McCaleb is the primary capital source.
Moat: Haven-1 is positioned to be the first standalone commercial space station in orbit if it holds its NET Q1 2027 launch date — it has NOT launched yet. Jed McCaleb's personal funding eliminates dilution pressure from institutional VCs. SpaceX partnership for both launch and crew transport removes dependency on rocket development. Lean team and Silicon Valley speed culture targeting faster iteration than defense-prime competitors.
Business
Primary customers
- Commercial: Private astronaut clients (Vast-1 mission)
- Commercial: Research organizations (microgravity experiments)
- Government: Potential NASA CLD Phase 3 customer
Sectors
Commercial Space Stations · Crew Transportation (via SpaceX partnership) · Space Tourism
Gallery
Key Products
- Haven-1development
Small commercial space station (~3.3m diameter, 10m length) — launch delayed to NET Q1 2027 on SpaceX Falcon 9. Will serve as a crew-capable micro-station and proof-of-concept for Vast's larger station ambitions.
First flight: 2027 (NET Q1)
- Vast Stationdevelopment
Full-scale modular commercial space station in early design. Follows Haven-1 as Vast's long-term orbital destination, designed for larger crew capacity and research throughput.
Investor Resources
Primary-source documents — straight from Vast's investor relations and SEC filings.
Near-term Catalysts
- NET Q1 2027
Haven-1 launch on SpaceX Falcon 9
Would be the first standalone commercial space station in orbit; the binary de-risking event for Vast's entire roadmap.
- 2027 (post Haven-1 launch)
Vast-1 private astronaut mission to Haven-1 (SpaceX Crew Dragon)
First commercial crew mission to a non-ISS space station in history. Demonstrates Vast's ability to host astronauts and generate commercial revenue.
- 2026–2027
Vast Station design milestone (PDR/CDR)
Completes design of the full-scale follow-on station and demonstrates scaling beyond Haven-1.
Top Risks
- Single-funder concentration risk: Jed McCaleb is the primary capital source; any personal liquidity event or change in priorities could pause development.
- Haven-1 is small (crew of up to 4) — limited revenue capacity vs. ISS-scale competitors like Axiom Station.
- No confirmed institutional funding rounds; long-duration station economics require billions in capital over 10+ years.
- SpaceX partnership is a dependency — any Crew Dragon scheduling conflict or pricing change affects Vast-1 mission economics.
- NASA has not selected Vast for CLD Phase 2 — competing against Axiom and Starlab for the primary government anchor-tenant relationship.
Recent Milestones
- 2026-01
Haven-1 launch delayed to NET Q1 2027 on Falcon 9 — slip from earlier 2025/2026 targets as qualification testing continues
- 2024-06-01
SpaceX and Vast announce partnership for Haven-1 launch and Vast-1 private astronaut mission
- 2023-05-01
Vast raises funding from Jed McCaleb bringing total investment past $300M; scales engineering team to 150+ in Long Beach
From Management
Recent interviews and talks from Vast's leadership — hear the strategy in their own words.
What investors should know
Q1What is Vast and who founded it?⌄
Q2When will Haven-1 launch?⌄
Q3How is Vast funded?⌄
Q4What is the Vast-1 mission?⌄
Q5How does Vast differ from Axiom Space and Starlab?⌄
Q6What is Vast's long-term business model?⌄
Q7What are the key risks for Vast?⌄
Peers
Sources & References
Press Release
Trade Press
- Payload — Vast Delays Haven-1 Launch to 2027(archived)
- SpaceNews — Jed McCaleb's Vast Space Targets Commercial Station with Haven-1 · 2024-06-01(archived)
- Payload Space — Vast's Haven-1: A Guide to the First Commercial Space Station · 2025-01-15(archived)