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Exos completed the Pathfinder Launch on August 25, 2018 from Spaceport America. It was the first step in validating the SARGE SRLV that was flown and recovered for reuse. Exos gathered critical flight data that enabled advancing the design and setting them up for continued reuse of their SARGE vehicle.
,,,The “Mission 1” test flight of the SARGE reusable system will carry the commercial payloads flown under the programs listed below. A successful launch will further solidify the company’s plan to use this technology as the design basis of their Jaguar orbital launch vehicle with reusable first stage capable of carrying 100kg to Low Earth Orbit (200-400km).
The link provides the list of payloads. For their orbital rocket their plan seems straightforward and brilliant. Build a simple suborbital rocket that lands by parachute gently enough so that it can be reused. While using that commercially also use it as the testbed for building an orbital rocket whose first stage would also land by parachute.
This approach puts them in direct competition with Blue Origin and Virgin Galactic for the suborbital business, and likely at a much cheaper price than either. And if the plan works to orbit, it also positions them to be a strong competitor in the smallsat orbital rocket business, being the first with a reusable vertically launched rocket.