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Core Viewpoint - The article discusses the emergence of "Microglow Navigation," a company that has developed the world's first transport rocket integrating "full-flow staged combustion cycle propulsion, carbon fiber composite materials, and liquid oxygen methane" technology, highlighting its potential in the commercial space industry [5][6]. Company Overview - "Microglow Navigation" recently completed a multi-million angel round of financing, with funds primarily allocated for team building and accelerating core technology implementation [5]. - The company was founded in March 2025 and has developed the WG-1 Microglow One medium-sized reusable launch vehicle, which is the first in the world to combine the aforementioned technologies [5]. - The core team has extensive experience in the rocket and missile fields, led by national-level researchers with practical experience [5]. Industry Insights - According to data from the China Business Industry Research Institute, the commercial space industry in China is expected to grow at a compound annual growth rate of 22.9% from 2020 to 2024, reaching a market value of 2.8 trillion yuan by 2025 [6]. - The article emphasizes that the "great space era" has arrived, with countries racing to secure space resources and develop commercial space capabilities [6]. Challenges in the Market - The article identifies three core pain points in the current market: intense competition with homogeneous offerings, high costs and low efficiency, and an inability to meet diverse commercial demands [7]. - "Microglow Navigation" aims to address these issues by focusing on high-performance engines and lightweight structural technologies to optimize launch costs [7]. Technological Innovations - The "Microglow One" engine is the first in China and the third globally to adopt a full-flow staged combustion cycle using liquid oxygen and methane, achieving a fuel combustion efficiency of over 99% and enhancing rocket payload capacity by 30% [9]. - The company utilizes carbon fiber technology, which covers 90% of the rocket's structure, improving payload capacity by 10% and economic efficiency by 25% [11]. Future Plans - The company plans to reduce the cost of launching payloads to below 20,000 yuan per kilogram and recovery costs to below 5,000 yuan, aiming for a 50% reduction in overall costs [12]. - The "Microglow One" rocket is on track for its maiden flight in 2028, with plans for recovery and reuse by 2030 [12]. Investor Perspective - An investor from a northern industrial institution expressed strong support for the development opportunities in the "great space era" and recognized the team's technical background and innovative capabilities [13].