Rocket startup unveils battery-powered engine for small sat launches

April 14, 2015 2:08 PM

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COLORADO SPRINGS, Colo. (Reuters) - Rocket Lab, a privately-held company financed by weapons maker Lockheed Martin Corp and other high-tech investors, on Tuesday said its low-cost Electron launch system for small satellites will be the first rocket powered by batteries.

Chief Executive Peter Beck said the company founded in 2008 to help commercialize the space business, expected to carry out the first flight of its all-composite Electron launch vehicle and the new Rutherford engine before the end of the year.

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