Smallsat rocket startup ABL raises $200 million in anticipation of 1st launch
Capitalism in space: With its first test launch of its rocket scheduled for mid-December, the smallsat rocket startup ABL has raised $200 million in investment capital, in addition to the $170 million it had raised in March.
Dan Piemont, president and co-founder of ABL, told SpaceNews that the company still has most of the $170 million it raised in March, describing the new round as “somewhat opportunistic and driven by insider interest.” Much of the additional funding, though, will go to scale up production of its RS1 vehicle that is nearing its first launch. “We have received large orders for RS1 and will need to scale faster than we previously planned to meet the demand,” he said, with more than 75 launches under contract. “Our investors have seen the incredible demand for RS1 and want to make sure we have all the resources we need to serve it. We updated our operating plan accordingly, and you’ll see that in the form of more launch sites, more facilities, more machines and larger production crews next year.”
ABL is one of seven rocket companies — the others are Virgin Orbit, Astra, Firefly, Relativity, Aevum, and Blue Origin — that had planned a first test launch in ’21. Of those, Virgin Orbit has had two successful orbital launches, while Astra and Firefly have attempted orbital launches but failed. Blue Origin’s first launch of its New Glenn rocket has been delayed to next year, but it is questionable it will occur then. The launch dates for Relativity and Aevum remain unannounced.
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Capitalism in space: With its first test launch of its rocket scheduled for mid-December, the smallsat rocket startup ABL has raised $200 million in investment capital, in addition to the $170 million it had raised in March.
Dan Piemont, president and co-founder of ABL, told SpaceNews that the company still has most of the $170 million it raised in March, describing the new round as “somewhat opportunistic and driven by insider interest.” Much of the additional funding, though, will go to scale up production of its RS1 vehicle that is nearing its first launch. “We have received large orders for RS1 and will need to scale faster than we previously planned to meet the demand,” he said, with more than 75 launches under contract. “Our investors have seen the incredible demand for RS1 and want to make sure we have all the resources we need to serve it. We updated our operating plan accordingly, and you’ll see that in the form of more launch sites, more facilities, more machines and larger production crews next year.”
ABL is one of seven rocket companies — the others are Virgin Orbit, Astra, Firefly, Relativity, Aevum, and Blue Origin — that had planned a first test launch in ’21. Of those, Virgin Orbit has had two successful orbital launches, while Astra and Firefly have attempted orbital launches but failed. Blue Origin’s first launch of its New Glenn rocket has been delayed to next year, but it is questionable it will occur then. The launch dates for Relativity and Aevum remain unannounced.
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.
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