Rocket startup IRocket mergers with investment company
The rocket startup IRocket has now gone public by merging with the special purpose acquisition company (SPAC) BPGC, with the latter committing $400 million in investment capital in the merged company.
Innovative Rocket Technologies Inc. (iRocket), a next-generation reusable space rocket developer, and BPGC Acquisition Corp. (BPGC), a special purpose acquisition company sponsored by The Hon. Wilbur Ross, the 39th U.S. Secretary of Commerce with more than 55 years of private equity and investment banking experience, and BPGC Management LP, an independent private equity firm dedicated to opportunistic buyouts and special situations transactions in the global industrials, materials and chemicals sectors, jointly announced today that they have entered into a definitive Merger Agreement and Plan of Merger dated July 22, 2025, in connection with the previously-announced letter of intent.
Upon closing, the combined company will operate under the name iRocket Technologies Inc. and the parties will plan to list the combined company on Nasdaq.
The press release at the link makes a lot of very ambitious claims about the company’s proposed rocket, claims that so far appear to be nothing more than nice PowerPoint graphics.
iRocket’s Shockwave launch vehicle is uniquely designed for recovery and reuse of all of its stages. Just as airplanes fly multiple flights, iRocket will Recondition, Reload, and Relaunch™ its rockets in under 24 hours. iRocket’s patented liquid rocket engines will maintain high efficiency through descent as well as ascent. iRocket’s engines will be fueled with sustainable liquid oxygen and methane, which burns cooler, imparts less stress on components, and further supports iRocket’s unique 24-hour turn-around time. Being on a leading edge with its rocket engine expertise, iRocket is also developing solid rocket motors that will transform boosters, missiles, and interceptors.
The company has been around since 2018, yet as far as I can determine has never launched anything. One would hope that something real will begin to finally happen with this infusion of significant new capital.
The rocket startup IRocket has now gone public by merging with the special purpose acquisition company (SPAC) BPGC, with the latter committing $400 million in investment capital in the merged company.
Innovative Rocket Technologies Inc. (iRocket), a next-generation reusable space rocket developer, and BPGC Acquisition Corp. (BPGC), a special purpose acquisition company sponsored by The Hon. Wilbur Ross, the 39th U.S. Secretary of Commerce with more than 55 years of private equity and investment banking experience, and BPGC Management LP, an independent private equity firm dedicated to opportunistic buyouts and special situations transactions in the global industrials, materials and chemicals sectors, jointly announced today that they have entered into a definitive Merger Agreement and Plan of Merger dated July 22, 2025, in connection with the previously-announced letter of intent.
Upon closing, the combined company will operate under the name iRocket Technologies Inc. and the parties will plan to list the combined company on Nasdaq.
The press release at the link makes a lot of very ambitious claims about the company’s proposed rocket, claims that so far appear to be nothing more than nice PowerPoint graphics.
iRocket’s Shockwave launch vehicle is uniquely designed for recovery and reuse of all of its stages. Just as airplanes fly multiple flights, iRocket will Recondition, Reload, and Relaunch™ its rockets in under 24 hours. iRocket’s patented liquid rocket engines will maintain high efficiency through descent as well as ascent. iRocket’s engines will be fueled with sustainable liquid oxygen and methane, which burns cooler, imparts less stress on components, and further supports iRocket’s unique 24-hour turn-around time. Being on a leading edge with its rocket engine expertise, iRocket is also developing solid rocket motors that will transform boosters, missiles, and interceptors.
The company has been around since 2018, yet as far as I can determine has never launched anything. One would hope that something real will begin to finally happen with this infusion of significant new capital.