Space Pioneer received close 350 million dollars in new investment rounds to support the development of the Tianlong-3 missile, as well as the next generation of carriers and rocket engines.
The received funds will be directed mainly to the preparation for the mass production of rockets and engines, as well as for the development of new generations of these engines and launch vehicles. This initiative aims to advance the development of commercial space technology in China and promote the industrialization of the industry. The company did not provide additional details about its plans for new developments.
Space Pioneer previously created the Tianlong-2 rocket, which runs on kerosene-oxygen fuel, which entered orbit in April 2023 year during a single flight. The company is now nearing a test-orbital launch of the much larger and potentially reusable Tianlong-3, capable of delivering 17-22 tons of cargo into low Earth orbit. Previously, static fire tests were conducted and the launch pad for the rocket was completed at the Jiuquan Spaceport in July.
The announcement of a new generation of engines and rockets shows, that the company plans to create a more powerful medium. Several other Chinese private companies, including Landspace and a number of newer market entrants, have already begun the development of full-flow engines in the staged combustion cycle (FFSC) - technologies, which was put into commercial use by SpaceX with its Starship system and Raptor engines.
The new investment rounds were co-led by Guoyu Gaohua groups, Jigang Group, Orient Asset Management, Shenwan Investment, Bank of China Asset Management, Guiyang Industrial Development Fund, Beijing United Exchange, Hunan Shengli Investment, Hunan Gaoxin Zongheng, Qingshui Huixing and a number of other well-known institutions. It is a combination of state industrial groups, of regional investment funds and private capital corresponds to the general trend of state support for key players in China's commercial space sector.
These events reflect the active support of China's provincial and local governments, which are investing in commercial space development following signals from the central government that the sector is a strategic priority. So, in December, Landspace received 123 millions of dollars in government funding to build its own Zhuque-3 reusable missile, which is being prepared for the first orbital launch at the same Jiuquan Cosmodrome.
Source: https://spacenews.com