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Report: Rocketplane contract with NASA in jeopardy


Today's Wall Street Journal is reporting negotiations between Oklahoma-based Rocketplane Kistler and a group of commercial investors have broken down, leaving the company's NASA contract in jeopardy. ...

By Scott Cooper August 22nd, 2007

Today's Wall Street Journal is reporting negotiations between Oklahoma-based Rocketplane Kistler and a group of commercial investors have broken down, leaving the company's NASA contract in jeopardy.

 

The Journal reports the company has failed to secure funding for its rocket ship, intended to transport cargo to and from the International Space Station. NASA had awarded Rocketplane Kistler the contract a year ago which is based on a public-private financing partnership.

 

Rocketplane Kistler was awarded more than $200 million from NASA to build the cargo-carrying rocket, but the company has missed several financing deadlines. NASA had given Rocketplane Kistler $30 million of the contract, but since has suspended all matching funds for the project, according to the article.

 

The newspaper also reported Alliant Techsystems Inc., Rocketplane Kistler's lead contractor for the project, "essentially has halted work on the rocket program, pending resolution of funding issues."- Scott Cooper

 

More Rocketplane coverage:

Ex-Rocketplane chief engineer says funding diverted from tourism vehicle
Rocketplane lays off manager, seeks $500 million
Rocketplane responds
Texas rocket leaves Oklahoma soil, returns 
Rocketplane beat to launch by Texas company 
Another rocket company ready to do business with state

 
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