Reentry Capsule Providers Compared: Varda, ATMOS, The Exploration Company and Inversion

Commercial reentry capsules bring materials, experiments and products back from orbit without a space station. By October 2026, Varda Space Industries in the United States has reentered six W-Series capsules and SpaceX has launched a first demo mission of its Starfall capsule, while European companies such as ATMOS Space Cargo and The Exploration Company are preparing their next flights. This guide compares the providers, explains how a return mission works and what to check before booking downmass.

Why reentry capsules matter

For decades, getting anything back from orbit meant flying it to the ISS and waiting for a returning crew or cargo vehicle. Free-flying reentry capsules change that: a capsule is launched on a rideshare mission, runs its experiment or production process in orbit, and then returns on its own schedule. This opens up microgravity research, pharmaceutical processing and hypersonic flight testing to customers who do not need a station. The basics are covered in our explainer on downmass and return cargo.

Reentry capsule providers compared

The overview is based on what each company publishes. None of the providers publishes prices.

Varda Space Industries (El Segundo, USA): builds the W-Series, which Varda describes as the first commercial satellite and reentry vehicle built specifically for returning materials from orbit. A satellite bus processes materials in orbit, then the capsule separates and reenters at more than Mach 25 before landing under a parachute. W-1 reentered at the Utah Test and Training Range on February 21, 2024; W-2 and W-3 reentered at the Koonibba Test Range in Australia on February 27 and May 13, 2025. W-4, W-5 and W-6 have also reentered. Varda lists W-7 as a pharmaceutical mission, while W-8 and W-9 have launched; Varda says W-9 marks the first time two commercial reentry vehicles are launched to orbit together. Varda serves government (hypersonic testing) and biopharma customers.
ATMOS Space Cargo (Lichtenau, Germany): develops the reusable PHOENIX orbital transfer and return vehicle with an inflatable heat shield. PHOENIX 1 flew on SpaceX's Bandwagon-3 mission and, according to ATMOS (April 23, 2025), achieved its primary objectives, including deployment of the inflatable heat shield under realistic reentry conditions. Portugal's space authority ANACOM granted ATMOS the country's first commercial reentry licence (March 5, 2026) for PHOENIX 2.1, with splashdown and maritime recovery off Santa Maria Island in the Azores and a launch window in the second half of 2026. Together with Space Cargo Unlimited, ATMOS has signed the first of seven missions combining PHOENIX 2 with the BentoBox microgravity platform.
The Exploration Company (Europe): develops Nyx, a reusable capsule designed to fly cargo to space stations and back. Its demonstrator flight Mission Possible launched on June 23, 2025 with 25 payloads totaling 300 kg. The capsule powered all payloads, reentered in a controlled way from about 550 km and re-established communication after reentry, but contact was lost at 26 km altitude before the parachute phase and the capsule was lost before splashdown. The full-size Nyx Earth capsule is planned to fly in 2028. The company also won ESA's cargo capsule contract; see our article on ESA ALADDIN and Nyx.
Inversion Space (USA): flew its first vehicle, Ray, on SpaceX's Transporter-12 rideshare in January 2025; Inversion confirmed separation and on-orbit operation in its technical deep dive. Its next vehicle, Arc, is a reusable space-based delivery vehicle that Inversion says is designed to deliver cargo anywhere on Earth in under an hour. The company focuses on defense customers.
SpaceX Starfall (USA): according to the FAA's final environmental assessment (May 15, 2026), Starfall is a capsule about 0.75 m tall and 3.1 m in diameter that weighs about 2,100 kg and can carry 1,000 kg of payload. It can launch on Falcon 9 or Starship. The assessment covers two Starfall reentries into the Pacific Ocean, which SpaceX wants to use to demonstrate the future transport and delivery of goods through space. Falcon 9 launched the Starfall Demo mission to low Earth orbit on June 23, 2026. Two companies have signed contracts for Starfall missions on Starship: Space Cargo Unlimited plans a one-tonne space factory for 2028, and Exolaunch targets a 2029 mission for microgravity research, in-space manufacturing and return to Earth.

Carrier Space lists return-capable vehicles alongside launch and in-orbit options in the vehicle directory.

How a commercial return mission works

ATMOS publishes a six-step mission flow that illustrates the typical process:

Contract and mission definition
Payload integration and qualification (AIT)
Logistics and launcher integration
In-orbit operations and mission control
Data downlink and monitoring
Controlled reentry and recovery

Varda's process is similar: launch on a commercial rocket, processing in orbit, separation of the capsule from the satellite, then reentry and parachute landing with recovery of capsule and payload for analysis.

Licensing: reentry needs its own permit

Bringing a vehicle back to Earth is a regulated activity. In the United States, commercial reentry requires a license from the FAA under 14 CFR Part 450. In Europe, national space laws apply: ATMOS's licence from Portugal covers reentry, splashdown and recovery in a designated area under Portuguese jurisdiction. Varda has landed capsules both in Utah and in South Australia. For background on licensing, see launch range safety and licensing.

What to check before booking a return mission

Flight heritage: how many capsules have been recovered intact, and whether the heat shield and parachute system have flown.
Payload environment: power, temperature control, data link and the loads during reentry and landing.
Mission duration: how long the capsule stays in orbit before return.
Landing site and recovery time: land or sea landing, and how quickly your payload is handed back.
Licences: whether the provider holds the reentry licence for the planned landing site.
Insurance: what happens if the capsule is lost, as on Mission Possible. See our article on launch insurance and liability.

FAQ

Which companies build reentry capsules?

Commercial developers include Varda Space Industries (W-Series), ATMOS Space Cargo (PHOENIX), The Exploration Company (Nyx), Inversion Space (Ray and Arc) and SpaceX (Starfall).

How fast does a reentry capsule travel?

Varda says its capsule reenters at more than 18,000 miles per hour, faster than Mach 25.

Can I return cargo from orbit without the ISS?

Yes. Free-flying capsules such as Varda's W-Series run their missions independently of space stations and return on their own.

Which companies are making drugs in space?

Varda processes pharmaceuticals in orbit and returns them in its capsules; W-7 is listed as a pharmaceutical mission focused on solubility.

Need to bring something back from orbit? Send a request through Carrier Space.

Sources

Cover image: Apollo 13 spacecraft splashdown in the South Pacific Ocean, April 17, 1970. Credit: NASA (s70-35652).