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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Technology

Technology

SpinLaunch will launch rocket without fossil fuels

SpinLaunch plans to do just that — launch a rocket from electric spinning

Silicon Valley startup SpinLaunch announced on Thursday that it will launch a rocket into space without the use of fossil fuels – a feat that has never been accomplished. The company claims that it will have its first launch in 2022.

Fossil fuels cost aerospace companies hundreds of thousands of dollars for just one launch. So how does SpinLaunch plan on pulling this off? The details are a bit hazy, as they have not released a detailed report of their technology, but they stated that they can spin a rocket to an extreme speed using electricity, skyrocketing it (pun intended) into orbit.

CEO Jonathan Yaney believes that because of the amount of saved money from electricity, the company will be able to launch multiple launches per day.

Additionally, investors are starting to believe in the company. The startup has raised $40 million from investors such as Airbus Ventures and Google Ventures. In fact, Kleiner Perkins partner Wen Hsieh had this to say about the tech firm:

“SpinLaunch’s unique and proprietary approach to place satellites into low earth orbit is not only highly cost-efficient, but also safe and green…Renewable energy sources such as solar and wind [eliminate] the use of toxic and dangerous rocket fuels.”

If SpinLaunch can pull this off, firms like SpaceX could be in for a world of hurt. Elon Musk already has his hands full with Tesla, and this will only set him back further. There is no better time for the future than today, and young dreamers are capitalizing on that.


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