Rocket Lab buys Virgin Orbit's assets at auction for US$16m

Rocket Lab launches rockets from launchpads, but Virgin Orbit wanted to launch them from 747s. (Image: Rocket Lab)

Wed, 24 May 2023

Rocket Lab has snapped up some of the remnants of Richard Branson's dream to launch satellites into space from 747 jets. The New Zealand-based space company agreed to pay US$16.1 million (NZ$26m) for some of Virgin Orbit's assets, including the lease on their 13,378 sq metre head office and manufacturing facility on Conant Street in Long Beach, California.Virgin Orbit filed for Chapter 11 bankruptcy in April. Orbit was founded by Richard Branson and was spun-off Virgin Galactic as part of an ill-fated attempt to take the company pu...

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