And projections for SpaceX’s next vehicle, Starship, hover in the single-digit millions of dollars. Today the cost of launching a satellite using SpaceX’s Falcon Heavy is less than 8% of the cost of launching one before 2000, before private companies were invited to compete. That change spurred the growth of rocket launch companies like Blue Origin, Sierra Space, and SpaceX, which have leveraged advances in microelectronics and computing over the past several decades to drive down the costs of getting satellites (the most common payload) into space by making them smaller, lighter, and more powerful. The Commercial Orbital Transportation Services program (commonly known as COTS) and its successors, for example, gave private companies fixed-price contracts, rather than the cost-plus contracts typically used in the space sector, to provide services to resupply the International Space Station. Instead, it began to allow privately funded companies to compete for public-sector contracts. space shuttle program was winding down, the government’s policy on space moved away from its model of flowing all money and decisions through NASA and the Department of Defense. Whether it’s tracking the number of cars parked in retail locations, detecting costly and environmentally damaging methane leaks from natural-gas wells, or assessing soil type and moisture content to maximize crop yields, creative uses for data gathered from space abound.Ĭompanies looking further ahead will want to explore the value to be gained from conducting activities in space, utilizing space assets, and meeting demand from the new space age.īusinesses engaging with commercial space should be willing to experiment and should look for partners. For instance, many companies are turning to remote-sensing satellites for data that will inform business decisions. To understand what the opportunities are for your company, the authors advise you to consider the four ways in which using space could create value: data, capabilities, resources, and markets.įor most companies thinking about their space strategy over the next five to 10 years, data will be the dominant focus. Green Thumb’s Kovler said “there’s appetite” from Circle K to work together in other states.Ī representative for Couche-Tard, reached by phone, didn’t have an immediate comment.Space is becoming a potential source of value for businesses across a range of sectors, including agriculture, pharmaceuticals, consumer goods, and tourism. Some locations have already ventured into cannabis, selling CBD products that don’t contain the psychoactive ingredient THC and Delta-8 items, which also give consumers a high, but fall through a legal loophole because they’re derived from hemp. Gas stations appear to be a good fit for weed because they are already where lots of Americans shop for age-restricted drugs such as tobacco and alcohol. Because Florida is one of several states where cannabis can be legally sold only for medical use, purchases are restricted to Floridians who have medical marijuana cards. The Green Thumb outposts will be known as “RISE Express” stores and have a separate entrance from the gas station. Under the agreement, Green Thumb will lease space from Circle K locations. “This is a futuristic deal.”įinancial terms between Chicago-based Green Thumb and Laval, Quebec-based Alimentation Couche-Tard Inc., which owns Circle K, weren’t disclosed. The agreement will “continue to normalize” marijuana by integrating it with regular consumer products,” Green Thumb Chief Executive Officer Ben Kovler said in an interview.
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