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
|
|
|
|
news links
|
|
Tuesday, March 10
Firefly Delays Alpha Launch Attempt at Vandenberg Due to Sensor Reading
Noozhawk — 7:32 am ET (1132 GMT) Monday’s launch of Firefly Aerospace’s Alpha Flight 7 test flight Monday evening scrubbed
KEYT-TV Santa Barbara, CA — 7:32 am ET (1132 GMT) DoW announces death of USASMDC Soldier
US Army — 7:31 am ET (1131 GMT) Seventh US service member killed is identified as Army Space Brigade sergeant
AP — 7:30 am ET (1130 GMT) A Dark Matter
Business Standard — 7:25 am ET (1125 GMT) |
