EOS-X SPACE, the pioneering European space exploration firm of Spanish origin, plans to launch space flights in Abu Dhabi in 2025.
Founder and CEO Kemel Kharbachi's company will begin operating space flights around the third quarter of 2025 in Abu Dhabi, as well as in Seville, Spain. In addition to completing the development of the Spaceship One manned capsules, EOS-X SPACE will soon conduct essential validation tests with military pilots in collaboration with Spain's prestigious National Institute for Aerospace Technology (INTA).
The firm is gearing up for a decisive second half of 2024 to finalise its launch in this emerging industry, which currently boasts a market worth over $9 billion in revenue.
Most ambitious complex
Abu Dhabi will host the company's most ambitious complex globally. This facility, located in the capital of the UAE, will feature not only the shuttle and the spaceport but also the most significant hotel complex, situated on Yas Island. The third facility is planned for Tulum, Mexico, and is expected to be operational by 2026.
Capsules reaching the stratosphere
Founded in 2020, EOS-X SPACE stands apart from other companies, which rely on rockets for space flights that cost passengers around a million dollars for a brief experience requiring extensive training and physical fitness.
In contrast, EOS-X SPACE’s pressurised capsules, accommodating up to eight people (including a pilot), are lifted by an eco-friendly helium balloon. These capsules reach the stratosphere's edge at an altitude of 40,000 metres, allowing space tourists to enjoy breathtaking views of space, the blue halo, and Earth's curvature during a five-hour trip (compared to Blue Origin's 11-minute rocket flight).
This comfortable journey requires no arduous preparation and includes a personalised week-long programme featuring cultural, gastronomic, regenerative medicine, and wellness experiences.
The cost per passenger ranges between €150,000 and €200,000, depending on the chosen package.
Total investment exceeds $230 million
The planned investment for the Abu Dhabi and Seville complexes will surpass $230 million in engineering and development. Currently, the company is in the midst of a €115 million Series D investment round led by US investment bank FTI Capital Advisor.
Given the potential of this novel tourism approach – within a current $9 billion market – EOS-X SPACE has robust scalability forecasts and anticipates a revenue growth of 220% over five years, ensuring solid profitability from the first year of operations.
Kharbachi and his management team estimate that in its launch year, 2025, combined revenues from Spain and Abu Dhabi could reach $353 million, with a gross profit margin of 19%. By 2029, the company aims to achieve a turnover of $1.127 billion and a gross profit of $324 million, marking a profit growth of 23.3% compared to the previous year. Overall, profits are expected to increase by 220% between 2025 and 2029.
As Kharbachi explains: "The development of space tourism offers investment prospects as vast and promising as human curiosity. There will come a time, similar to the aviation industry, when this way of seeing the world becomes much more accessible. For now, we are offering an ultra-luxury product aimed at a very specific clientele, namely HNW communities, with around 20 million potential customers worldwide. These 'ultra-rich' individuals, along with affluent people capable of spending between €150,000 and €200,000 for an unparalleled experience, are our target market."