Boeing to invest in Virgin Galactic
Posted: Sat, Oct 12, 2019, 8:06 PM ET (0006 GMT)
Boeing announced Tuesday it will make a small but strategic investment in Virgin Galactic. Boeing HorizonX Ventures will invest $20 million in Virgin Galactic once its merger with special-purpose acquisition company Social Capital Hedosophia closes later this quarter. The companies said in a statement that they will "work together to broaden commercial space access and transform global travel technologies," but offered few specifics about those plans. Both companies have expressed an interest in high-speed passenger transportation, with Virgin noting in investor presentations it sees "supersonic and hypersonic vehicles that drastically reduce travel time for point-to-point travel" as one long-term opportunity for the company.
Boeing announced Tuesday it will make a small but strategic investment in Virgin Galactic. Boeing HorizonX Ventures will invest $20 million in Virgin Galactic once its merger with special-purpose acquisition company Social Capital Hedosophia closes later this quarter. The companies said in a statement that they will "work together to broaden commercial space access and transform global travel technologies," but offered few specifics about those plans. Both companies have expressed an interest in high-speed passenger transportation, with Virgin noting in investor presentations it sees "supersonic and hypersonic vehicles that drastically reduce travel time for point-to-point travel" as one long-term opportunity for the company.
Related Links:
| <<previous article | next article>> |
|
news in brief
|
|
NASA to launch Nancy Grace Roman Space Telescope in September
Posted: Sat, Apr 25 10:54 AM ET (1454 GMT) |
|
news links
|
|
Friday, May 1
FCC Adopts New Satellite Spectrum Sharing Rules
Broadband Breakfast — 6:04 am ET (1004 GMT) New FCC Rules Could Mean 'Sevenfold' Capacity Increase for Starlink
PC Magazine — 6:03 am ET (1003 GMT) Space Command moves into first Redstone building
Axios — 6:01 am ET (1001 GMT) Sierra Space Elects Retired Lieutenant General John E. Shaw to Board of Directors
PR Newswire — 6:01 am ET (1001 GMT) Spacecom Takes Operational Control of Facility in Alabama
US Dept. of Defense — 6:01 am ET (1001 GMT) |
