The Space Robotics Laboratory of Tohoku University has been developing multiples of microsatellites for years and has gathered experiences in their development, verification, integration, and operation. SRL has recently started development of model-based simulation, verification and integration environment to realize rapid and cost-effective development of reliable micro-satellites. The conceptual design and its functionality have been verified through the real-life micro-satellite project RISESAT, which is a 50kg class international scientific micro-satellite. The developed environment can be utilized in different configurations depending on requirements in each satellite development phase. This environment is designed to be modular and very flexible and can be utilized for other micro-satellites and possibly even much smaller space system projects in the future.