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XCOR Secures $187,500 Equity Investment
Mojave - Apr 17, 2003 XCOR Aerospace announced Wednesday that it has successfully acquired an additional $187,500 in equity investments. This round of investment qualifies the company for a Department of Defense program that matches private capital four to one up to $750,000. The funds will be used for development of rocket engine pump technology. "In the current tight fund-raising environment, it's a testament to the company's strength," said Rich Pournelle, XCOR's Director of Investor Relations. "The rocket engine pump is a critical component in the development of a reusable suborbital vehicle rather than rockets that are thrown away with each launch." XCOR is privately funded and its current investors include a former venture capitalist, software industry leaders, and other private investors. "XCOR is a sound investment because of the accomplishments of their engineering team and their focus on reusable rocket technology," said Montana-based investor Dr. John Jurist. "The company has sound management and one of the most experienced rocket teams in the business. I firmly believe XCOR is positioned to be a leader in the development of suborbital vehicles." The company will now focus on securing a combination of government contracts and additional private investment to continue development of a suborbital vehicle for space tourism, microgravity research and microsatellite launches. XCOR Aerospace is also expanding its operations and moving into a 10,000 square foot facility located on the Mojave Airport flight line. The new facility consolidates operations which were spread between several locations. CommunityEmail This Article Comment On This Article Related Links SpaceDaily Search SpaceDaily Subscribe To SpaceDaily Express Rocket Science News at Space-Travel.Com
Successful First Test For Vega's Zefiro 9 Engine
Paris, France(ESA) Dec 28, 2005Flames, smoke and a deafening noise accompanied the first firing test of Vega's Zefiro 9 third-stage solid rocket motor. A first examination of the data indicates that everything went well at the test carried out yesterday at Salto de Quirra in southeast Sardinia. |
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