Astroscale Japan Inc. has secured an £12 million ($81.4 million) contract with the Japan Aerospace Exploration Agency (JAXA) for a five-year project focused on removing space debris from orbit.

This contract is the largest in Astroscale's history and is considered vital for advancing Active Debris Removal (ADR) technologies.

The project will utilize the ADRAS-J2 satellite, which is equipped with a robotic arm to capture and deorbit the upper stage of the H-IIA rocket.

The upper stage of the H-IIA rocket, launched in 2009, measures approximately 11 meters in length and 4 meters in diameter, currently orbiting at about 600 kilometers.

This debris is classified as a non-cooperative object, meaning it does not communicate or provide location data, complicating removal efforts.

The ADRAS-J mission represents the first commercial attempt to safely approach and survey a large, unprepared piece of space debris through Rendezvous and Proximity Operations (RPO).

ADRAS-J successfully executed a controlled fly-around of the upper stage rocket, maintaining a fixed distance of about 50 meters.

Throughout its mission, ADRAS-J has been collecting images and data to evaluate the debris's movement and structural integrity, which is crucial for future debris removal missions.

Currently, over 30,000 objects larger than 10 centimeters are tracked as space debris, posing risks to space missions and contributing to environmental issues on Earth.

The increase in global space exploration and satellite launches raises concerns about effective debris management in orbit, presenting growth opportunities for companies like Astroscale.

Following the announcement of the contract, shares of Astroscale rose by 19 percent, reflecting market enthusiasm for the company.

The contract for Phase II will commence on August 20, 2024, and run until March 31, 2029.