Rocket Lab USA Acquires Virgin Orbit’s Headquarters in $16.1 Million Deal
Rocket Lab USA, a small satellite launch provider and aerospace manufacturer, has acquired the 144,000-square-foot Long Beach headquarters of now defunct Virgin Orbit in a $16.1 million deal. The purchase also included various on-site machinery and equipment.
Rocket Lab USA Developing Larger Launch Vehicle
Rocket Lab USA is currently developing a larger launch vehicle, the Neutron, at its conveniently located Long Beach headquarters. In a statement regarding the acquisition, Peter Beck, CEO and founder of Rocket Lab, added that the lease of Virgin Orbit provides co-located engineering, manufacturing and testing capabilities for his team.
Virgin Orbit’s Origins
Virgin Orbit was originally established in 2017 as a subsidiary of Virgin Galactic, billionaire Richard Branson’s space tourism venture. The aim was to use a modified Boeing 747 aircraft, known as the Cosmic Girl, to place small satellites in low-Earth orbit. Since its first flight in 2020, only four of its six flights have been successful. The company is set to go public in 2021 and plans to fly up to 750 missions.
Conclusion
Rocket Lab USA’s acquisition of Virgin Orbit’s Long Beach headquarters is a major step in the development of its larger launch vehicle, the Neutron. The lease of Virgin Orbit provides co-located engineering, manufacturing and testing capabilities for the team. Virgin Orbit was originally established in 2017 as a subsidiary of Virgin Galactic, with the aim of using a modified Boeing 747 aircraft to place small satellites in low-Earth orbit. The company is set to go public in 2021 and plans to fly up to 750 missions.