XCOR Aerospace announced today it
has successfully acquired an additional $187,500 in equity investments. This
round of investment qualifies the company for a Department of Defense program
that matches private capital four to one up to $750,000. The funds will be
used for development of rocket engine pump technology.
“In the current tight fund-raising environment, it’s a testament to the
company’s strength,” said Rich Pournelle, XCOR’s Director of Investor
Relations. “The rocket engine pump is a critical component in the development
of a reusable suborbital vehicle rather than rockets that are thrown away with
each launch.”
XCOR is privately funded and its current investors include a former
venture capitalist, software industry leaders, and other private investors.
“XCOR is a sound investment because of the accomplishments of their
engineering team and their focus on reusable rocket technology,” said
Montana-based investor Dr. John Jurist. “The company has sound management and
one of the most experienced rocket teams in the business. I firmly believe
XCOR is positioned to be a leader in the development of suborbital vehicles.”
The company will now focus on securing a combination of government
contracts and additional private investment to continue development of a
suborbital vehicle for space tourism, microgravity research and microsatellite
launches. XCOR Aerospace is also expanding its operations and moving into a
10,000 square foot facility located on the Mojave Airport flight line. The
new facility consolidates operations which were spread between several
locations.
XCOR Aerospace is a California corporation located in Mojave, California.
The company is in the business of developing and producing safe, reliable and
reusable rocket engines and rocket powered vehicles. Additional information
about XCOR Aerospace can be found at www.xcor.com .
