Rocket Lab CEO: ‘a year and a half slog’ due to coronavirus

Many companies in the space industry have seen operations grind to a crawl in the past two months because of the coronavirus crisis, a problem compounded by frozen venture capital that used to be readily available.

Worse, Rocket Lab CEO Peter Beck told CNBC that this is only the “early days” of the crisis for an industry that saw a boom time over the past decade. While he remains hopeful that some creative and well-funded companies may continue pushing forward, Beck warned that this “is going to be a really challenging time.”

Read more at CNBC:

Statement on COVID-19

This is an extremely challenging time for startup companies as COVID-19 has forced many to halt operations or close down completely. It has taken a tremendous toll on the financial and investment markets which makes it nearly impossible for early-stage companies to raise funding at a critical time when they need it. We are not immune to these circumstances, but we have been proactive and are positioned to ride out the storm.

First, we have implemented work-at-home for everyone regardless of state or country. By a coincidence of timing, our work is currently focused on design, simulation and software, all of which can be effectively performed at home.

Second, our near-term hiring plan, implemented prior to the coronavirus crisis, targets early May for new hires to start. While this date will likely slip due to conditions, we have been able to grow our team over the past month. We believe that this will help set the stage for rapid growth once financial stresses begin to ease.

Finally, I would like to acknowledge the personal toll that the pandemic is taking on people’s lives. Most of us know people who have fallen ill or even passed away. We fear for our own health as well as that of our friends and families. Many fear for the future as much as anything else. As they say, “this too shall pass”. Even so, there will be a long recovery ahead presenting its own challenges and for those who lose their lives, there is no positive outcome.

However, we will recover. We will persevere and welcome the day we will feel the satisfaction of moving ahead and building the future that we always have and continue to envision. That’s where my focus lies and the efforts of everyone at Phoenix Launch Systems. Even during this difficult time, we are moving forward and will continue to do so through and beyond this time of crisis.

Spaceport Azores

@PhoenixLaunch has signed a letter of support and intent to a consortium competing to develop a new spaceport in the Azores. We see this as an ideal location for SSO launches in future years and are excited by the potential.

NIAC Phase I proposal

We have submitted Phase A of our proposed study for a reconfigurable interplanetary surface return vehicle to the NASA NIAC Phase I solicitation. Looking forward to the feedback.

Executive Summary – 2019 NewSpace Business Plan Competition

Overview:  Phoenix Launch Systems, Inc. (DUNS # 117025293) was founded in January 2019 and is dedicated to developing responsive launch solutions and products for the nanosatellite industry.

What We Offer: Our business strategy relies on three core components – launch services, cubesat hardware and software – which allow us to provide a true turnkey, end-to-end space utilization solution to the problem of high launch prices with long lead times and lack of flexibility for the customer. Our solution is focused on the reusable three-stage Phoenix dedicated nanosatellite launch vehicle and cubesat hardware product line. Continue reading “Executive Summary – 2019 NewSpace Business Plan Competition”

NewSpace Conference 2019 Presentation

We’re back from the NewSpace Conference in Seattle and our pitch in the NewSpace Business Plan Competition. We received a lot of positive feedback and conference attendees had a lot of questions for our CEO over the three day event. Some key aspects of our business model received a “thumbs up” from those in the know, which makes us feel really great about our direction. Below  are most of the slides from our presentation. Please feel free to download the presentation here

Continue reading “NewSpace Conference 2019 Presentation”