Summary:
Former Google CEO Eric Schmidt is now CEO of Relativity Space, aiming to compete with SpaceX.
Schmidt has made a significant financial investment in the company.
Relativity Space's first rocket, Terran 1, launched in March 2023 but failed to reach orbit.
The company is now focusing on the Terran R, expected to debut in 2026.
Relativity Space aims to establish a sustainable industrial base on Mars.
Eric Schmidt's New Role
Former Google CEO Eric Schmidt has taken the helm as CEO of Relativity Space, a startup with ambitious goals to compete against established giants like SpaceX in the rocket launching industry.
Relativity Space's Terran 1 rocket launches on its first and only flight, in March 2023. The vehicle failed to reach orbit. (Image credit: Relativity Space)
Background on Schmidt
Schmidt, who led Google from 2001 to 2011 and has a net worth of about $33 billion, has also made a significant financial investment in Relativity Space, as reported by The New York Times.
Relativity Space's Ambitious Vision
Founded in 2016 by Tim Ellis and Jordan Noone, both former employees of Blue Origin, Relativity Space aims to revolutionize rocket technology with its 3D-printed rockets. Schmidt takes over from Ellis, who remains on the board.
The Terran 1 and Future Plans
Relativity Space's first rocket, Terran 1, was launched in March 2023, achieving several milestones but ultimately failing to reach orbit. The company has since shifted its focus to the Terran R, a more powerful and partially reusable rocket projected to debut in 2026. The Terran R is designed to be competitive with SpaceX’s Falcon 9, boasting a similar lift capacity of 26 tons to low Earth orbit.
Looking Ahead
Relativity Space has already signed launch agreements worth over $2.9 billion for the Terran R. The company envisions creating a sustainable industrial base on Mars as part of its long-term goals, emphasizing the importance of its current projects on Earth.
For more updates on rocket launches and space exploration, stay tuned!
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