Chinese pseudo-company raises $207 million
The Chinese pseudo-company Space Pioneer announced yesterday that it has raised an additional $207 million from Chinese investment sources during its most recent funding round, bringing the total amount it has raised to $552 million.
Space Pioneer—full name Beijing Tianbing Technology Co., Ltd—announced the funding worth more than 1.5 billion yuan ($207 million) June 6. At least 15 investors participated in the funding, including a mix of private equity and state-linked investment vehicles.
These include state-linked Wuxi Chuangfa, CCTV Fund, CITIC Securities Investment, Hefei Ruicheng and SDIC Taikang, and private equity and investment firms Bohua Capital Management, Guoyu Gaohua, Deyue Investment and more.
The company is developing its Tianlong-3 reusable rocket, essentially a copy of SpaceX’s Falcon 9. It already has completed one launch of its Tianlong-2 expendable rocket, using government engines.
Readers!
Please consider supporting my work here at Behind the Black. Your support allows me the freedom and ability to analyze objectively the ongoing renaissance in space, as well as the cultural changes -- for good or ill -- that are happening across America. Fourteen years ago I wrote that SLS and Orion were a bad ideas, a waste of money, would be years behind schedule, and better replaced by commercial private enterprise. Only now does it appear that Washington might finally recognize this reality.
In 2020 when the world panicked over COVID I wrote that the panic was unnecessary, that the virus was apparently simply a variation of the flu, that masks were not simply pointless but if worn incorrectly were a health threat, that the lockdowns were a disaster and did nothing to stop the spread of COVID. Only in the past year have some of our so-called experts in the health field have begun to recognize these facts.
Your help allows me to do this kind of intelligent analysis. I take no advertising or sponsors, so my reporting isn't influenced by donations by established space or drug companies. Instead, I rely entirely on donations and subscriptions from my readers, which gives me the freedom to write what I think, unencumbered by outside influences.
You can support me either by giving a one-time contribution or a regular subscription. There are four ways of doing so:
1. Zelle: This is the only internet method that charges no fees. All you have to do is use the Zelle link at your internet bank and give my name and email address (zimmerman at nasw dot org). What you donate is what I get.
2. Patreon: Go to my website there and pick one of five monthly subscription amounts, or by making a one-time donation.
3. A Paypal Donation or subscription:
4. Donate by check, payable to Robert Zimmerman and mailed to
Behind The Black
c/o Robert Zimmerman
P.O.Box 1262
Cortaro, AZ 85652
You can also support me by buying one of my books, as noted in the boxes interspersed throughout the webpage or shown in the menu above.
The Chinese pseudo-company Space Pioneer announced yesterday that it has raised an additional $207 million from Chinese investment sources during its most recent funding round, bringing the total amount it has raised to $552 million.
Space Pioneer—full name Beijing Tianbing Technology Co., Ltd—announced the funding worth more than 1.5 billion yuan ($207 million) June 6. At least 15 investors participated in the funding, including a mix of private equity and state-linked investment vehicles.
These include state-linked Wuxi Chuangfa, CCTV Fund, CITIC Securities Investment, Hefei Ruicheng and SDIC Taikang, and private equity and investment firms Bohua Capital Management, Guoyu Gaohua, Deyue Investment and more.
The company is developing its Tianlong-3 reusable rocket, essentially a copy of SpaceX’s Falcon 9. It already has completed one launch of its Tianlong-2 expendable rocket, using government engines.
Readers!
Please consider supporting my work here at Behind the Black. Your support allows me the freedom and ability to analyze objectively the ongoing renaissance in space, as well as the cultural changes -- for good or ill -- that are happening across America. Fourteen years ago I wrote that SLS and Orion were a bad ideas, a waste of money, would be years behind schedule, and better replaced by commercial private enterprise. Only now does it appear that Washington might finally recognize this reality.
In 2020 when the world panicked over COVID I wrote that the panic was unnecessary, that the virus was apparently simply a variation of the flu, that masks were not simply pointless but if worn incorrectly were a health threat, that the lockdowns were a disaster and did nothing to stop the spread of COVID. Only in the past year have some of our so-called experts in the health field have begun to recognize these facts.
Your help allows me to do this kind of intelligent analysis. I take no advertising or sponsors, so my reporting isn't influenced by donations by established space or drug companies. Instead, I rely entirely on donations and subscriptions from my readers, which gives me the freedom to write what I think, unencumbered by outside influences.
You can support me either by giving a one-time contribution or a regular subscription. There are four ways of doing so:
1. Zelle: This is the only internet method that charges no fees. All you have to do is use the Zelle link at your internet bank and give my name and email address (zimmerman at nasw dot org). What you donate is what I get.
2. Patreon: Go to my website there and pick one of five monthly subscription amounts, or by making a one-time donation.
3. A Paypal Donation or subscription:
4. Donate by check, payable to Robert Zimmerman and mailed to
Behind The Black
c/o Robert Zimmerman
P.O.Box 1262
Cortaro, AZ 85652
You can also support me by buying one of my books, as noted in the boxes interspersed throughout the webpage or shown in the menu above.
Readers: the rules for commenting!
No registration is required. I welcome all opinions, even those that strongly criticize my commentary.
However, name-calling and obscenities will not be tolerated. First time offenders who are new to the site will be warned. Second time offenders or first time offenders who have been here awhile will be suspended for a week. After that, I will ban you. Period.
Note also that first time commenters as well as any comment with more than one link will be placed in moderation for my approval. Be patient, I will get to it.