iRocket has its eye on opportunities beyond US skies.
The New York-based launcher added Paul Stein, former CTO of Rolls-Royce, to its board of directors to help establish a toehold in the UK, the company announced today.
Stein, who also worked for the UK’s Ministry of Defense, plans to advise the company on the technical necessities of running a large aerospace business.
“I hope I can bring some engineering discipline. As we start to commoditize space launch, quality and costs are going to start creeping in even more strongly than they have been in the past,” Stein told Payload.
US backing: To get off the ground, iRocket has received significant financial backing from the US military to develop and test its reusable rocket technology.
- Last year, iRocket signed a $1.8M TACFI contract with Space Systems Command to develop its reusable methalox-fueled rocket engine.
- The company also signed an $18M CRADA agreement with AFRL for exclusive access to test their engines at Edwards Air Force Base.
iRocket aims to have its reusable rocket, Shockwave, launch as early as 2027, with a long-term goal of being able to rapidly launch sats with just a day’s notice, something that’s been an area of focus for the US military.
While government money has helped the company grow thus far, iRocket plans boost their cash stores with a Series A fundraise as early as this year, CEO Asad Malik told Payload.
Global reach: As Europe attempts to stake a larger presence in space and the demand for rides to space grows, Stein’s experience in the UK opens the door for iRocket to join these conversations and potentially launch from European spaceports.
Beyond potential customers, iRocket is also hopeful that Stein can help it build a more robust supply chain.
“The UK has many, many advantages for us with the supply chain bottleneck in the US. The UK has a well-established supply chain network for aerospace and defense companies,” Malik told Payload.
