Space Firm Founded by Billionaire Paul Allen Sold to New Owner

A new family of launch vehicles including air-launch system, medium-lift rockets and a reusable space cargo plane, are seen in this artist's rendering image released by Stratolaunch Systems Corp, the space company of billionaire Microsoft co-founder Paul Allen, based in Seattle, Washington, U.S., on August 20, 2018. Courtesy Stratolaunch/Handout via REUTERS

SEATTLE—Stratolaunch Systems Corp., the space company founded by late billionaire and Microsoft Corp. co-founder Paul Allen, said on Oct. 11 it was continuing operations after transitioning ownership, but did not name the new owner.

The company, a unit of Allens privately-held investment vehicle Vulcan Inc, had been developing a fleet of launch vehicles, including the worlds largest airplane by wingspan, to send satellites and eventually humans into space.

Allen, who founded Seattle-based Stratolaunch in 2011, died at age 65 in October.

Reuters reported in May that the company was exploring the sale of its assets and intellectual property while in the process of closing operations. It had slashed headcount.

“Stratolaunch LLC has transitioned ownership and is continuing regular operations,” a spokeswoman said by e-mail.

It declined to provide details beyond the short announcement, which also said its “near-term launch vehicle development strategy” focuses on testing reusable rocket-powered vehicles and associated flight services.

It said the company would continue operations under the new owner with a mission that “will bring the carrier aircraft test and operations program fully in-house.”

Allens Stratolaunch had been compared to other space ventures backed by billionaires, including Richard Bransons Virgin Orbit, which is developing a similar but smaller high-altitude launch system to cash in on growing demand for ferrying small sRead More – Source