Founded in 2016, Interstellar Glory (also called I Space) is one of the earliest commercial space companies. It's Hyperbola 1 is the first commercial rocket to reach orbit.
Interstellar was also one of the first companies to perform VTVL, however that is when things started to spiral out of control. Many leaders of I Space left to start their own companies such as CosmoLeap and AstroStone. That is why there has been few news on Hyperbola 3 since then.
On July 25, 2019, I Space successfully launched the Hyperbola 1 rocket. The design is rumored to be based off military missiles. Notably, there are also 4 grid fins located at the rocket's end, a feature unique to missiles.
The rocket has a bad history, with only 4 successes out of 8 total flights.
One positive aspect: After a year of waiting, Interstellar seemingly corrected the problem with Hyperbola just in time for the maiden flight of Hyperbola 3.
On November 2, 2023, I Space conducted its first VTVL test. The vehicle reached a maximum height of 178 meters during this 51 second long flight.
The grid fins were not operational for this flight.
On December 10, 2023, just over a month after the first test, I Space conducted its second VTVL test. This time, the vehicle flew to a maximum altitude of 340 meters and landed 50 meters horizontally during its 63 second flight.
The grid fins were also not operational for this flight.
There was initially a smaller Hyperbola 2 planned but Interstellar has planned to skip over that (similar to Deep Blue and them skipping over Nebula 1).
Payload Capacity of 7700 kilograms
On December 20, 2024, Interstellar conducted the first engine testing for JD-2, the engine that will be used on Hyperbola 3.
First test lasted 20 seconds, and another two lasted for 100 seconds at varying intensities.
https://www.china-in-space.com/i/153611108/ispace-fires-jd-multiple-times
On January 22, 2025, Interstellar revealed they had recently completed the propellant tank for Hyperbola 3. This was tested in the following cryogenic tests.
https://www.china-in-space.com/i/155453789/ispace-welds-meter-long-propellant-tank
On April 17th, 2025, Interstellar conducted a cryogenic test of Hyperbola 3's propellant tank.
https://www.china-in-space.com/i/161789146/hyperbola-performs-cryogenic-testing
On July 12th, 2025, Interstellar conducted a second cryogenic test of Hyperbola 3's propellant tank.
On August 5th 2025, it was revealed that the drone-ship for Hyperbola 3 has been completed.
The name of the ship is 清澜 (Qinglin), or calm waves.
https://www.china-in-space.com/i/170220665/ispace-launches-booster-recovery-ship
Although I Space had an early start with both expendable rockets and VTVL, it seems like the momentum has disappeared. The bad reputation of Hyperbola 1 has harmed investment. Leadership left to join other companies or make their own. Interstellar as a whole is not really transparent about its work on Hyperbola 3 or maybe it really does not have any information to give.
It seems like something changed within the company in late 2024 because 2025 has been a big year in terms of progress on Hyperbola 3.