Saudi Arabia’s non-binding agreement to invest $1 billion in Richard Branson’s three space companies is part of a broader set of ventures that includes Branson’s Virgin Group investing in a new mega city on the Red Sea and suborbital space tourism flights from the Saudi capital.
“Branson has become the first international investor to commit to involvement in the Red Sea Project and nearby Al Ola/Madain Saleh, another prime site for the development of tourism, both domestic and international,” the Saudi government proudly announced on Oct. 1, more than three weeks before the space deal was unveiled.
The nonbinding memorandum of understanding involving $1 billion in investment from Saudi Arabia is Richard Branson’s latest success in obtaining financial support from governments for his Virgin Group’s space companies.
The table below shows funding invested directly into the group’s space ventures and indirectly for infrastructure.
VIRGIN GROUP SPACE COMPANIES — DIRECT & INDIRECT GOVERNMENT INVESTMENT
Custom built spaceport named Spaceport America constructed on 18,000 acres of land — Virgin Galactic signed 20 year lease to serve as anchor tenant
Government-owned sovereign wealth fund Aabar Investments obtained 31.6 percent share of Virgin Galactic — plans for a spaceport where SpaceShipTwo would fly in Dubai — future commitment of $100 million more when Virgin Galactic developed viable plan for small-satellite booster (LauncherOne)
Aabar Investments increased share of Virgin Galactic to 37.6 percent
Under non-binding MOU, government-run Public Investment Fund (PIC) would obtain undisclosed share of three Virgin Group space companies: Virgin Galactic, Virgin Orbit and The Spaceship Company — Virgin Group to maintain majority ownership
PIC has an option to invest nearly a half-billion more in Virgin Group space services
RIYADH, Saudi Arabia, October 26, 2017 — The Public Investment Fund (PIF) of Saudi Arabia and Virgin Group (Virgin), have signed a non-binding Memorandum of Understanding (MoU) for a partnership under which PIF intends to invest approximately $1 billion into Virgin Galactic, The Spaceship Company and Virgin Orbit, with an option for $480 million of future additional investment in space services.
The morning of Dec. 3, 2016, began like so many others in Mojave. The first rays of dawn gave way to a brilliant sunrise that revealed a cloudless, clear blue sky over California’s High Desert.
This was hardly newsworthy. For most of the year, Mojave doesn’t really have weather, just temperatures and wind speeds. It had been literally freezing overnight; the mercury was at a nippy 28º F (-2.2º C) at 4 a.m. As for Mojave’s famous winds – an enemy of roofs, trees and big rigs, but the lifeblood of thousands of wind turbines that cover the landscape west of town – there really weren’t any. It was basically a flat calm.
NASA has released a document listing the 1,206 active Space Act Agreements (SAAs) the agency has with commercial companies, non-profit organizations and state and local governments.
From that list, I’ve extracted agreements with individual companies. Below you will find tables listing SAAs that NASA has signed with Virgin Group companies, Moon Express and NanoRacks. There is also a fourth table that has SAAs with a number of companies and organizations that we follow on Parabolic Arc.
SAAs come in three varieties: reimburseable, non-reimburseable and funded. Under reimburseable agreements, a company or organization will pay NASA for its services. No money exchanges hands under non-reimburseable agrements. And under funded agreements, NASA pays the company to perform work or provide services. (The space agency made substantial use of SAA’s in the Commercial Crew Program.)
Video Caption: Yesterday in Denver, The Spaceship Company’s chairman Doug Shane spoke at Boom’s unveil of its XB-1 Supersonic Demonstrator, a subscale prototype of the Boom supersonic passenger airliner. The Spaceship Company is a proud partner of Boom Supersonic and will provide engineering and manufacturing services, along with flight test support and operations. Doug introduced a congratulatory message from Sir Richard Branson.
President Barack Obama has signed into law a measure that will help the nation’s growing legion of spaceports fight the encroachment of obstacles such as transmission lines that could endanger suborbital spacecraft.
The measure, sponsored by House Majority Leader Kevin McCarthy (R-Calif.), was inspired by a problem experienced by the Mojave Air and Space Port, which is in the Congressman’s district. A utility company built extra tall transmission towers near the airport, sparking safety concerns among officials there.
It was raining in the desert. It was coming down in buckets.
A cold, hard rain was slamming against the windows of the house. The first real rain since….I couldn’t even remember. That’s how rare rain is out here. Months and months go by with little or no rainfall.
Video Caption: On September 8, 2016, our new SpaceShipTwo — VSS Unity — took to the skies for the first time. This is first ever flight of a vehicle built by our manufacturing organization, The Spaceship Company.
In this video, Mike Moses–our Senior Vice President of Operations, and a NASA veteran who oversaw dozens of successful flights to space–helps explain this flight and how it fits into the context of our full testing program.
With Virgin Galactic President Steve Isakowitz heading out the door for the Aerospace Corporation, CEO George Whitesides has made an interim appointment in the meantime.
“I have asked Tim Buzza, the program director of LauncherOne, to step up and lead our LauncherOne enterprise as we search for Steve’s successor. Tim joined Virgin Galactic in 2014, and has led the overall program management of LauncherOne since early 2015. Prior to joining Galactic, Tim served as the Vice President of Launch and Test at SpaceX, in addition to prior leadership roles at Boeing and McDonnell Douglas. Tim will be supported by our Senior Vice President of Business Development and Advanced Concepts, Barry Matsumori, who was previously SpaceX’s Senior Vice President of Sales and Business Development, as well as key roles at Qualcomm, Space Systems Loral and General Dynamics.”
HUNTSVILLE, Ala., (U.S. Space & Rocket Center PR) — The U.S. Space & Rocket Center® is pleased to announce the selection of three outstanding individuals who make up the 2016 class of the Space Camp® Hall of Fame: Jason Hopkins, an aerospace engineer and business development specialist at Masten Space Systems and a former NASA Fellow; Dr. Amy Kaminski, Senior Policy Advisor, Office of the Chief Scientist, NASA; and George Whitesides, CEO of Virgin Galactic and The Spaceship Company.
In honor of the 30th anniversary of its release, the Rocket Center is also inducting the cast of “Space Camp,” a movie that launched the dream of attending Space Camp for thousands of children. Larry B. Scott, who played Rudy Tyler in the movie, will accept the induction of the cast into the Space Camp Hall of Fame.
Richard Branson’s Virgin Group is partnering with a start-up company called Boom on the production of a new Mach 2.2 commercial airliner. The deal will involve work by Virgin Galactic and its subsidiary, The Spaceship Company.