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Vector, a micro-launch company founded in 2016 to build small rockets for payloads of up to 60kg, may be in financial trouble, multiple industry sources told Ars on Friday. A spokeswoman for Vector did not comment on that. However, she did confirm the company has parted ways with its chief executive: “Jim Cantrell is no longer with Vector effective today. John Garvey has assumed the role of CEO.”
I wish this story wasn’t so, though I also admit my instincts were telling me things were going sour with the continuing delays in their test launch schedule.
Jim Cantrell was an unusual CEO, always available and open. He generously took me on personal tours of Vector facilities, twice, first in March 2017 and again in January 2019. I wish him well in whatever future endeavors he undetakes.
As for Vector, they need to get off the ground. They had had a substantial head start over many of the other new smallsat rocket companies, but that lead has now evaporated.
More information here. It appears one of their major investors might have pulled out. It also appears they have temporarily suspended operations, shuttering their offices.