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Mitsubishi Heavy Industries, ispace Sign Contract on New Lunar Module Launch

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Mitsubishi Heavy Industries (TYO:7011) and ispace (TYO:9348) have signed a contract for the launch of the new lander Ultra for a lunar landing mission scheduled for 2028, according to a Wednesday release.

The Ultra mission will use H3, the Japanese flagship rocket developed by Mitsubishi Heavy Industries.

The partnership aims to build a privately led Japanese lunar transportation system with a domestically produced lander and rocket.

The project has obtained a grant from the Ministry of Economy, Trade and Industry's Small Business Innovation Research (SBIR) program.

Shares of Mitsubishi Heavy Industries and ispace both fell more than 2% in recent trade.

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