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XCOR Secures Equity Investment
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. Related LinksSpaceDaily Search SpaceDaily Subscribe To SpaceDaily Express 
Boeing Wins Contracts For Advanced Electric Propulsion Technology
St Louis - Apr 15, 2003Boeing has been awarded three new contracts under NASA's In-Space Propulsion Technologies program for the development of advanced xenon ion propulsion technologies. |
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