HUNTSVILLE, Ala. ó Small launch provider Vector Launch has received a $3.4 million contract from the Air Force Rocket Systems Launch Program office to lift experimental satellites to low Earth orbit.
Hearing rumors that funding fell through today and that Vector closed their doors. Anybody else?
Quote from: Ragmar on 08/09/2019 06:25 pmHearing rumors that funding fell through today and that Vector closed their doors. Anybody else?The key question, if this is true, is why the funding failed - was it missed milestones / deliverables? The CEO of this company was very busy pumping out hype and being the man who invented space, but was he delivering? Peter de Selding was clearly suspicious something was going on a few days ago:-Peter B. de Selding @pbdes Aug 6Robert Cleave, former @LockheedMartin Commercial Launch Services president who joined @vectorlaunch in Sept as chief revenue officer, has left Vector. Now director at 'stealth-mode company start-up focused on those elements that make networks more efficient and secure.'
Tucson launch company Vector says CEO Jim Cantrell is no longer with the company, effective today, and that John Garvey has assumed CEO role.
Jim Cantrell is out as @vectorlaunch chief executive. I have not been able to confirm (well sourced) rumors of serious financial trouble with the micro-launch company. Story imminent.
No surprise. Vector has had a smell of mismanagement for a long time, and a ridiculous cash burn.I have similar impression of Firefly, not as bad as with Vector but some things are feeling strange there. Let's hope I am wrong.
Quote from: PM3 on 08/09/2019 09:57 pmNo surprise. Vector has had a smell of mismanagement for a long time, and a ridiculous cash burn.I have similar impression of Firefly, not as bad as with Vector but some things are feeling strange there. Let's hope I am wrong.That leaves RL which seems safe given its flying and making money, Virgin LauncherOne should fly this year and is well funded but its big OneWeb contract has shrunk.In +1000kg class its Firefly, Relativity and Boeing Phantom Express (XS1). Boeing is funded internally and by Draper, it should fly, how competitive it will be is another story, but is RLV. RL move to RLV may give Firefly and Relativity financial backers doubts given they are both building ELVs. Some of international SLVs should be OK, if nothing else, because there is still strategic importance in having domestic access to space and SLV are cheap compared current big LVs. Expect at least one or two from China and same for Europe.
350 S Toole Avenue Tucson, Arizona 85701 888-346-7778August 9, 2019In response to a significant change in financing, Vector Launch Inc (Vector) announced today that it is undertaking a pause of operations. A core team is evaluating options on completing the development of the companyís Vector-R small launch vehicle, while also supporting the Air Force and other government agencies on programs such as the recent ASLON-45 award.The company plans to make more information available next week. Vector Launch