TUSCON, Ariz., July 20, 2016 /PRNewswire/ -- Vector Space Systems, a micro satellite space launch company comprised of new-space industry veterans from SpaceX, Virgin Galactic, McDonnell Douglas and Sea Launch, today announced it has finalized the acquisition of Garvey Spacecraft Corporation. As part of the acquisition, Garvey Spacecraft Corporation Founder and CEO John Garvey joins Vector Space Systems as Chief Technology Officer.
Founded in May 2016, Vector Space Systems was formed to connect space startups with affordable launch-enabling platforms and vehicles for accessing space at a cost and schedule never before possible. The acquisition allows Vector Space Systems to accelerate its mission of fostering innovation to spark growth in the space commerce industry through reliable and frequent launch opportunities.
"Through the extensive knowledge, designs, hardware, flight experience and flight prototypes acquired from Garvey Spacecraft Corporation, Vector Space Systems has seen accelerated success within just three months of its founding, positioning us as the leading launch vehicle for the microsatellite industry," said Jim Cantrell, CEO and co-founder of Vector Space Systems. "Vector Space Systems and Garvey Spacecraft Corporation share a common vision of space commerce growth, and by joining forces, we now have a team of experienced space veterans, cutting edge proven designs and prototype vehicles which have accelerated our time to first orbital launch to only 2 years from today, down from the typical 5-7 years from a clean sheet vehicle design."
Vector Space Systems has already begun engine-level static fire testing and is working toward the start of sub-orbital test flights that will pathfind operations and manifest key technology experiments in Q3 2016, followed by large-scale sub-orbital test flights in 2017 and orbital launches in 2018.
Garvey Spacecraft Corporation specializes in aerospace research to develop advanced space technologies and launch vehicle systems. Since the firm's founding in 2000, it has provided engineering, technical support, project management and hardware prototyping services to NASA, DARPA, the Air Force and multiple commercial customers with the long-term goal of building and operating a commercially-viable nanosat launch vehicle (NLV). Vector Space systems will inherit the NLV design as its first launch vehicle, the "Vector 1," while leveraging Garvey Spacecraft's propulsion technologies, successful advancement and flight track-record, as well as decades of research and development required for Vector Space System's micro satellite launch vehicle.
"The Garvey Spacecraft team is excited to share its engineering capabilities, advanced designs and technology and decades of launch vehicle operation experience with Vector Space Systems," Garvey said. "By combining resources, Vector Space Systems will bring to market a powerful launch platform, leveraging years of development and research to complete our original vision of a purpose built commercial nanosat launch vehicle. Even in the short time we have been working together, we have been able to expand our capabilities and make significant progress on a number of key technical and operational fronts."
About Garvey Spacecraft Corporation
Garvey Spacecraft Corporation (GSC) is an aerospace R&D company that focuses on the development of advanced space technologies and launch vehicle systems. Our long-term strategic goal is the development and operation of a commercially-viable nanosat launch vehicle (NLV). For more information, visit www.garvspace.com/index.html
About Vector Space Systems
Vector Space Systems is a disruptive space innovator that connects space startups with affordable and reliable launch enabling platforms and vehicles at a cost point never before possible for accessing space. For more information, visit www.vectorspacesystems.com.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/vector-space-systems-completes-acquisition-of-garvey-spacecraft-corporation-to-enhance-micro-satellite-launch-capabilities-300301053.html
SOURCE Vector Space Systems