Aerospace firm Vector—a US startup designing tiny rockets to send tiny satellites into space—last week declared that it is pausing business owing “to an important alteration in financing.” Jim Cantrell, the firm’s CEO, has also left and been restored by one of the firm’s co-founders, John Garvey.
Those abrupt alterations for the firm followed just a few days after Vector got its first launch deal from the US Air Force capitalized at $3.4 Million. Now, the firm claims that it will try to know how to shift forward. “A core team is examining options on finishing the development of the firm’s Vector-R small launch blast off the vehicle, while also supporting the government agencies and Air Force on projects such as the latest ASLON-45 award,” Vector claimed to the media in an interview.
One of the members of the team that assisted to create SpaceX in 2002, Cantrell, has been controlling Vector since it was first created in 2016. This new business was one of many firms making an effort to capitalize on the tiny satellite revolution, by developing vehicles devoted to blasting off comparatively small spacecraft into space. The two major rockets Vector aimed to design were the Vector-H and Vector-R, allegedly able of blasting off between 60 Kilograms (132 Pounds) and 290 Kilograms (640 Pounds) into space, respectively.
On a related note, Rocket Lab (the small satellite launcher) earlier claimed that it is following the footsteps of SpaceX with plans to make its rockets recyclable. But Rocket Lab will not be landing its rockets in the same manner as Falcon 9. Rather, the firm aims to catch its vehicles in mid-air using a helicopter after they have fallen back to the ground. Rocket Lab declared these plans last week in Utah at the Small Satellite Conference. The firm claims the objective is to elevate the frequency of blast-offs of its major rocket, dubbed as the Electron.