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Jeff Greason, XCOR Aerospace

XCOR Aerospace of Mojave, Calif., recently cleared a significant hurdle in its efforts to develop a two-person suborbital spaceplane called Lynx. It wasn’t a technical milestone, but a financial one. Closing a round of $5 million in equity funding puts the company, led by co-founder Jeff Greason, in position to finish building its first operational Lynx and begin flight tests this year.

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Khaki Mckee, Program Manager, XCOR Aerospace Inc.

Approximately one year from now, XCOR Aerospace plans to begin conducting test flights of the Lynx Suborbital Spacecraft from the Mojave Air and Space Port in California, where the company is based. The Lynx, powered by four liquid oxygen and kerosene-fueled engines, is designed to take off and land horizontally as it carries tourists and research payloads to the edge of space.