Space Pioneer, a private Chinese rocket company, has announced the completion of hundreds of millions RMB Series A round of financing.
The funds will be used primarily for the full-system thermal test drive of its "Sky Fire" series of HCP rocket engines, the first flight, and the production of the "Sky Dragon" series of liquid launch vehicles.
The investment was led by ZJU Joint Innovation Investment, which is the company's second financing over 100 million yuan in six months.
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Space Pioneer, founded in 2019, is an advanced aerospace propulsion system supplier and aerospace vehicle provider. Its main business is the development of room temperature green HCP liquid propellant, and the development of aerospace vehicles. HCP rocket engine and HCP launch vehicle.
HCP is a new generation of rocket propellant, which is low-cost, non-toxic, and non-polluting, with wide temperature storage, multiple re-ignition, and deep variable thrust.
According to Kang Yonglai, founder of Space Pioneer, commercial space launches pursue low cost, high reliability, and the ability to quickly form scale launches.
"The task for private rocket companies at this stage is not only to pursue new breakthroughs in technology and performance but also to choose the technology path in light of the commercial market's need to improve launch efficiency and reduce launch costs," Kang Yonglai said, adding, "HCP is the path Space Pioneer has chosen and will be able to provide fast, inexpensive, reliable and mass launch services to satellite users."
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Currently, Space Pioneer has completed the full-system thermal test vehicle for the Sky Fire 1 HCP liquid rocket motor and the full-system thermal test vehicle for the Sky Fire 2 liquid rocket motor. "The development of the Sky Fire III liquid rocket motor is progressing well and the full system thermal test vehicle will be completed later this year.
Kang Yonglai also said that the Sky Dragon 1 liquid launch vehicle will be ready for its maiden flight in 2021, with a design capacity of more than three tons, and will recruit satellite cooperation payloads from around the world.
In addition, Space Pioneer has already entered into hundreds of millions of RMB in launch cooperation agreements with several satellite Internet development companies.
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