Virgin announces billion-dollar Saudi investment in space companies
Posted: Sun, Oct 29, 2017, 11:43 AM ET (1543 GMT)
Saudi Arabia's sovereign wealth fund has agreed to invest $1 billion into the Virgin Group's space companies. The agreement, announced Thursday and at this point still a non-binding memorandum of understanding, would have the Public Investment Fund of Saudi Arabia invest $1 billion in Virgin Galactic, Virgin Orbit and The Spaceship Company in exchange for a "significant" but minority stake. The funding would accelerate current suborbital and orbital vehicle programs and support Virgin's long-term plans for point-to-point high-speed travel. It also includes "the possibility to develop a space-centric entertainment industry" in Saudi Arabia.
Saudi Arabia's sovereign wealth fund has agreed to invest $1 billion into the Virgin Group's space companies. The agreement, announced Thursday and at this point still a non-binding memorandum of understanding, would have the Public Investment Fund of Saudi Arabia invest $1 billion in Virgin Galactic, Virgin Orbit and The Spaceship Company in exchange for a "significant" but minority stake. The funding would accelerate current suborbital and orbital vehicle programs and support Virgin's long-term plans for point-to-point high-speed travel. It also includes "the possibility to develop a space-centric entertainment industry" in Saudi Arabia.
| <<previous article | next article>> |
|
news in brief
|
|
NASA releases report on Starliner crewed test flight problems
Posted: Sun, Feb 22 11:45 AM ET (1645 GMT) |
|
news links
|
|
Saturday, February 28
Firefly set to launch Alpha rocket from Vandenberg Space Force Base on Saturday
KSBY-TV San Luis Obispo, CA — 9:38 am ET (1438 GMT) Firefly Aerospace Alpha Rocket Ready for Return to Flight at Vandenberg
Noozhawk — 9:37 am ET (1437 GMT) Space Command offers bonuses for Huntsville move
Axios — 9:35 am ET (1435 GMT) Firefly Alpha FLTA007 “Stairway to Seven” set for launch from California coast
NasaSpaceFlight.com — 9:34 am ET (1434 GMT) Rocket Lab Delays Neutron Flight To Late 2026 After Test Failure
Aviation Week — 9:33 am ET (1433 GMT) |
