Space company Voyager Technologies raised close to $383 million during its IPO on Wednesday, with shares offered at $31. The firm provides a range of space-related services to both government and commercial clients, including activities aboard the International Space Station. Its stock price surged upon opening, reaching as high as $63.88 at one point that day. It later settled down, closing at $49.70 yesterday, resulting in a market valuation exceeding $2.7 billion.

The proceeds will be used to scale up several of the company’s initiatives, especially Starlab, a private space station being developed for operation once the ISS is retired. Investors are optimistic this performance may encourage additional space-sector IPOs this year.

P.S. - Quick note: There won’t be an edition of the Prototype next week since I’ll be away for the holiday. We’ll reconnect here again on the 27th!

How South Korea’s Chaebols Are Driving The Robotics Revolution

In 2021, Hyundai Motor Company spent $1.1 billion to purchase 80% of Boston Dynamics, a leader in robotics known for its robotic dog Spot and the humanoid robot Atlas. At the time, the acquisition appeared more like a publicity stunt than a strategic move.

That perception has changed. Four years later, Hyundai now leads the charge in Korea Inc.'s push into robotics. The company continues refining Spot, particularly for autonomous site inspections, and is advancing development of Atlas with plans to offer AI-controlled mass-produced humanoids by 2028.

Hyundai's robotics division has already introduced the X-ble series of wearable robotic exoskeletons for industrial use. The X-ble Shoulder, rolled out after testing with 300 employees, reportedly reduces shoulder and deltoid strain by over 30% when handling heavy items such as car parts. The X-ble MEX is a more advanced rehabilitation suit designed to help people regain mobility. Remarkably, these exoskeletons operate without external power, relying instead on passive spring-torque mechanics.

South Korea has long been a leader in industrial automation, boasting the world’s highest density of robots—1,000 per 10,000 factory workers—compared to about 300 in the U.S. and 470 in China.

Now, however, businesses and the government see vast potential for robots beyond manufacturing. A new public-private initiative called the K-Humanoid Alliance aims to deliver a commercially viable bipedal robot by 2028. The goal is to create a bot under 130 pounds capable of lifting 40 pounds, walking nearly 3 yards per second, and featuring over 50 joints for enhanced mobility. Additionally, the alliance seeks to build a shared AI "brain" usable across all Korean robotic systems.

Read the full article at Forbes.

DISCOVERY OF THE WEEK: AN ELECTRIC MOTOR WITHOUT METAL

Scientists from the Korea Institute of Science and Technology have engineered an electric motor that contains no metal components. Instead, its core electrical elements are constructed using carbon nanotubes (CNTs), which offer comparable conductivity to metals but are significantly lighter. While CNTs have been considered before, their application was limited due to residual metallic particles left during production, which degraded performance. The research team devised a chemical method to eliminate those impurities without damaging the structure of the CNTs.

FINAL FRONTIER: FIRST IMAGES OF THE SUN’S SOUTH POLE

The European Space Agency’s Solar Orbiter mission has captured the first clear images of the sun’s southern pole. These unprecedented views were taken between March 16 and 17, when the spacecraft orbited 15 degrees beneath the solar equator, offering the first-ever detailed glimpse. Equipped with three cameras, the Orbiter captured visible light, ultraviolet light, and emissions from various layers of charged gas above the sun’s surface, revealing different atmospheric strata.

WHAT ELSE I WROTE THIS WEEK

In my other newsletter, InnovationRx, Amy Feldman and I covered RFK Jr.’s removal of members from a vaccine advisory committee, a tech billionaire’s investment in AI and healthcare research, FDA approval of a new RSV prevention drug for infants, and the IPO of digital health company Omada.

On the Forbes YouTube channel, I joined colleague Brittany Lewis to discuss the scientific implications of Trump’s proposed budget cuts to NASA and the potential fallout of HHS Secretary Kennedy dismissing an entire vaccine advisory panel.

SCIENCE AND TECH TIDBITS

A novel type of paint has been created by researchers that helps cool buildings passively. It works in two ways: First, it reflects sunlight due to its color—a common approach. But it also uses nanoparticles to make the paint porous, allowing it to absorb water when wet. As this water evaporates, it cools the building, much like how sweat cools the human body.

NASA’s Hubble Space Telescope has released new images of Uranus, offering scientists fresh insights into the seventh planet. One unexpected finding: Its magnetic field doesn’t interact with its moons.

IBM is targeting 2028 to launch the first practical quantum computer. It will consist of modular units, each equipped with quantum chips, and the company claims to have solved scalable error correction—one of the major hurdles in quantum computing.

Satellite communications company Kymeta has built a single antenna capable of operating across multiple radio frequency bands. Previously, satellites needed multiple antennas to achieve this, so this innovation could pave the way for smoother satellite communication.

A gene therapy for hemophilia remains safe and effective more than ten years after administration. According to a new study, ten patients treated between 2010 and 2012 still show lasting benefits with minimal side effects.

PRO SCIENCE TIP: BOOST YOUR BUSINESS PROFITS WITH AN IPO

An analysis of over 3,500 companies across Europe spanning 20 years found that newly public firms experience a rapid increase in profitability compared to private firms that abandon their IPO plans. Researchers also noted higher sales per employee and broader market expansion following an IPO. “Going public can unlock growth opportunities, assuming favorable market conditions,” researcher Francisco Urzua stated in a press release.

WHAT’S ENTERTAINING ME THIS WEEK

Legendary rock artist Brian Wilson passed away earlier this week at age 82. In tribute to his legacy, Rolling Stone compiled a list of 25 essential songs, none of which I’d argue against. My own top five picks: “God Only Knows”, “I Just Wasn’t Made For These Times”, “Good Vibrations”, “Wouldn’t It Be Nice?”, and the deeply moving “Love And Mercy.” Though he’s gone, his extraordinary musical legacy endures.

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