Space News reported last month that US-based XCOR Aerospace (
www.xcor.com) had filed for bankruptcy.
The company, which was working on rocket engines and a sub-orbital space-plane for nearly 20 years, had its headquarters in Midland (Texas) and facilities in Mojave (California); in recent weeks, it had been seeking new investors that would keep it ‘alive’.
Michael Blum, who took over as chief executive at the end of June, said in October that XCOR had only a few weeks to reach an agreement or it would run out of money.
Last month, he said: “Our effort to find a financial future for XCOR has not succeeded.”
He said the company had discussions with several potential partners, including one that involved joining a consortium led by a “large aerospace firm” working to develop space access systems in the UK.
XCOR was founded in 1999 by four former employees of Rotary Rocket Co, after that company, which was developing a re-usable launch vehicle called Roton, changed propulsion systems.
XCOR developed a number of engines, including versions flown on a modified Long-EZ airplane called EZ-Rocket, but it is probably best known in the industry for the Lynx.
This sub-orbital space-plane (announced in 2008) was designed to carry a pilot and a ‘spaceflight participant’. It was designed to take off from a runway under rocket power and fly a suborbital arc before gliding back to a runway.
However, XCOR was never able to complete the initial prototype of Lynx, and the company announced last year that it was laying off about half of its employees and shelving work on Lynx to focus on an engine project under a contract with United Launch Alliance.
At the end of June, XCOR said it was laying off the rest of its employees due to “adverse financial conditions,” before rehiring a few as contractors.
Despite the XCOR situation, Mr Blum is optimistic about the future of the industry in general, saying: “The advent of entrepreneurial endeavours has led to significant cost reductions in recent years.
“This trend will continue, and low-cost access to space for humans will arrive. I am certain of this.”