INNOSPACE Signs Letter of Intent with Maritime Launch to Explore Launch Operations at Spaceport Nova Scotia

Rhea-AI Summary

Maritime Launch Services (OTCQB: MAXQF) and INNOSPACE (KS:462350) signed a non-binding Letter of Intent on March 3, 2026 to explore hosting INNOSPACE's HANBIT launch vehicle at Spaceport Nova Scotia. The LOI frames technical, regulatory, and commercial feasibility work and is effective through December 31, 2026.

Spaceport Nova Scotia is described as a dual-use, multi-pad launch site with licensed infrastructure; the LOI creates a pathway for potential North American HANBIT operations but imposes no binding financial obligations.

Positive

• LOI to explore HANBIT launches from Spaceport Nova Scotia (effective Dec 31, 2026)
• Potential North America expansion for INNOSPACE adds geographic diversification
• Spaceport Nova Scotia advancing licensed, multi-pad launch infrastructure

Negative

• LOI is non-binding and creates no financial obligations for either party
• No firm launch commitments, dates, or commercial terms were provided

HALIFAX, NS and SEJONG, Republic of Korea, March 3, 2026 /PRNewswire/ - Maritime Launch Services Ltd. (Cboe CA: MAXQ) (OTCQB: MAXQF), a Canada-based launch services company headquartered in Halifax, Nova Scotia, and INNOSPACE (KS:462350), a South Korean satellite launch service provider, today announced that they have entered into a non-binding Letter of Intent ("LOI") to explore the potential hosting of INNOSPACE's HANBIT launch system at Spaceport Nova Scotia, a commercial orbital launch facility in Canada.

The LOI establishes a strategic framework for the parties to assess the technical, regulatory, and commercial feasibility of operating INNOSPACE's HANBIT launch vehicle from Spaceport Nova Scotia.

"Spaceport Nova Scotia is being developed as a full-service, dual-use responsive spaceport, providing licensed site launch infrastructure, range coordination, safety oversight, and scalable multi-pad capability," said Stephen Matier, President and CEO of Maritime Launch Services. "This Letter of Intent reflects growing international demand and global interest in Nova Scotia as an emerging orbital launch location. We look forward to working with INNOSPACE to evaluate how our strategic position on the Eastern Atlantic rim of North America can support their launch program while advancing reliable, repeatable access to orbit and strengthening Canada's commercial launch capability."

INNOSPACE has established a global launch site network spanning Brazil, Australia, and Portugal. Expansion into North America would further enhance geographic diversification and strengthen the company's ability to serve international satellite customers.

"North America represents a key market where global small satellite launch demand is concentrated. Following launch site agreements in Brazil, Australia, and Europe, expanding our launch footprint into North America marks an important foundation for INNOSPACE's next phase of growth as a global commercial launch service provider," said Soojong Kim, CEO of INNOSPACE. "Through our collaboration with Maritime Launch, we aim to gradually establish HANBIT's operational base in North America and continue strengthening our commercial launch competitiveness by delivering stable and efficient launch services demanded by global customers. With HANBIT's North American operational base, we hope to prioritize commercial launch services for Canadian government-developed satellites and private-sector customers.

For Maritime Launch Services, the LOI represents continued progress in positioning Spaceport Nova Scotia as a leading commercial orbital launch site in North America. The company is advancing licensed infrastructure designed to support multiple launch providers and deliver sovereign, reliable access to space for defence and commercial customers.

The global small satellite market continues to expand, driven by demand in telecommunications, Earth observation, and data services. Both companies view geographically diversified launch infrastructure as increasingly important to commercial competitiveness and meeting growing customer demand.

The LOI provides a framework for continued discussions and does not create binding financial obligations for either party. The LOI is effective through December 31, 2026, unless superseded by a definitive agreement.

About Maritime Launch Services

Maritime Launch (Cboe CA: MAXQ, OTCQB: MAXQF) is a Canadian-owned commercial space company based in Nova Scotia. Maritime Launch is developing Spaceport Nova Scotia, a dual-use commercial spaceport designed to support both civil and defence-related space missions. The spaceport will provide satellite launch services to domestic and international clients across the global commercial space market, supporting a wide range of orbital inclinations from a single location.

Spaceport Nova Scotia is Canada's first commercial orbital launch complex, enabling launch vehicles to place satellites into low Earth orbit.

For more information about Maritime Launch and Spaceport Nova Scotia, visit www.maritimelaunch.com

https://x.com/maritimelaunch

https://www.linkedin.com/company/maritimelaunch

About INNOSPACE

INNOSPACE is a South Korean space platform provider specializing in satellite launcher manufacturing and orbital launch services. Founded in 2017, the company is developing hybrid rocket-powered small satellite launchers (HANBIT) to provide low-latency, low-cost, and reliable launch services in today's rapidly expanding small satellite market. In March 2023, INNOSPACE successfully launched its test launch vehicle 'HANBIT-TLV' to verify the flight performance of the first stage 150 kN thrust hybrid rocket engine from the Alcantara Space Center in Brazil. INNOSPACE has offices in South Korea, Brazil and France and is expanding global business opportunities in the space industry. To learn more, visit https://www.innospc.com.

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SOURCE Maritime Launch Services Ltd.

FAQ

What did Maritime Launch (MAXQF) and INNOSPACE announce on March 3, 2026?

They announced a non-binding Letter of Intent to explore hosting INNOSPACE's HANBIT at Spaceport Nova Scotia. According to Maritime Launch, the LOI frames technical, regulatory, and commercial feasibility work through December 31, 2026.

Does the LOI between MAXQF and INNOSPACE create financial obligations for shareholders?

No, the LOI does not create binding financial obligations for either party. According to Maritime Launch, it provides a framework for continued discussions rather than finalized contracts or funding commitments.

What is the planned role of Spaceport Nova Scotia in the MAXQF–INNOSPACE collaboration?

Spaceport Nova Scotia would host HANBIT operations as a licensed, dual-use, multi-pad orbital launch facility. According to Maritime Launch, the site offers range coordination, safety oversight, and scalable launch infrastructure.

How would INNOSPACE benefit from operating HANBIT from Spaceport Nova Scotia (MAXQF)?

Operating from Nova Scotia would add North American presence and geographic diversification for INNOSPACE. According to INNOSPACE, this supports serving concentrated small-satellite demand in North America and strengthens commercial competitiveness.

When does the non-binding LOI between MAXQF and INNOSPACE expire?

The LOI is effective through December 31, 2026, unless superseded by a definitive agreement. According to Maritime Launch, the timeline covers feasibility assessments and further negotiations leading to a possible definitive deal.

Does the LOI guarantee HANBIT launches from Spaceport Nova Scotia or set launch timelines?

No, the LOI does not guarantee launches or provide firm timelines or commercial terms. According to Maritime Launch, it only establishes a framework to assess technical, regulatory, and commercial feasibility.