Kistler Aerospace has raised $1 billion to fire three reusable satellite launchers on test flights from Woomera, South Australia in 2002. A further $500 million funding has been promised by unidentified investors, "subject to formalities to be finalised by December".
The Kistler K-1 booster will provide commercial satellite launch services at lower costs by recovering elements for re-use. The project was launched in 1993 and is expected to generate $1.7 billion in revenues in 12 years.
Test flights were originally planned for 1998, with a first launch in 1999 but fundraising has been difficult. Taiwan China Development Industrial Bank and Northrop Grumman are investors.
Source: Flight International