The brief

Analyst view

• Founded 2010; first private Japanese moon lander. Failed landings in 2023, 2025. Now focuses on APEX 1.0.
• APEX 1.0 for NASA CLPS program. Mission 3 targets 2026, delivering payloads to lunar far side.
• Raised ¥3B from Takasago Thermal in October 2025 to fund 2027-2028 missions.

Technical approach

As reported

APEX 1.0

Redesigned lander for lunar far side

APEX 1.0 addresses Series 2 shortcomings: 300 kg payload capacity, scalable to 500 kg, with a new engine for improved efficiency and vibration performance.

Hybrid launch

Rideshare on commercial rockets

ispace books secondary payload slots on rockets like SpaceX Falcon Heavy rather than owning launch capacity, reducing per-mission costs.

Relay satellites

Far-side communication relay

APEX 1.0 deploys small relay satellites in lunar orbit to communicate with payloads on the far side, where Earth contact is blocked by the Moon.

Series 3

Next-generation lander in development

Series 3, designed in Japan with 500+ kg capacity, is planned for later CLPS missions and commercial lunar cargo delivery.

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