Letter from our Chairman
At Ad Astra, we pride ourselves in being visionary and thereby, bring value to our shareholders. Our core mission is to revolutionize space transportation with the commercialization of the VASIMR® engine and related technologies. Space, in the second decade of this century, is not unlike air transportation was in the second decade of the 20th. Already, space operations represent a $304 billion worldwide market with an annual growth rate of 7%. As the XXI century sets its mark on our civilization, we foresee this market to ultimately dwarf the commercial air travel of today. It is the private sector that will fuel this unprecedented growth and Ad Astra is positioning itself to help usher this transformation and to play a major role at every step of the way.
However, our “flight plan” also leaves ample room for exciting growth opportunities along our path. Our team is young and our corporate structure is nimble and adaptable, allowing us to capitalize in areas that are a good match to our skill-set without straying from our main course. While our genealogy comes from space, we are not bound by it. We endeavor to try new things that bring clear and present value to our investors. In fact, we have already found opportunities in renewable energy and advanced manufacturing, which we are now pursuing and we continue to explore others.
From the beginning we have built our corporate culture on solid foundations of ethics, hard work, honesty, humility and teamwork. We believe in caring for our employees and their families and in being involved as an integral part of our community. We support education at all levels. We have found time and again that investing in our young is good business.
One of my top priorities is to maintain strict and rigorous standards of corporate governance through our board of directors and to provide accountability to you, our shareholders, to keep you informed of our progress. We are proud to share with you, not just the excitement of our successes, but also how our resilience turns setbacks into instruments of strength and growth.
I would like all of you to know that we take your comments and inputs very seriously, and I appreciate the dialogue in a spirit of transparency. We thrive on integrity, technical excellence, precision and innovation and welcome competition in an atmosphere of fair play. To be sure, we seek not just to be competitive, but also to lead. We are proud that you have chosen to accompany us on this journey.
Chairman of the Board