Boeing Takes $20 Million Stake in Virgin Galactic

By Jesse Sokolow on 8 October 2019
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Boeing said it is investing $20 million in Virgin Galactic, a company that is preparing to take travelers into space as early as next year.

“We are excited to partner with Boeing to develop something that can truly change how people move around the planet and connect with one another,” said George Whitesides, Virgin Galactic’s CEO.

The two plan to build what they term a safe and sustainable space ecosystem that will facilitate innovation in suborbital, hypersonic, and low Earth orbit flight.

Boeing will make the investment through its HorizonX Ventures arm to join the space startup founded by U.K. billionaire Richard Branson.

Boeing said the investment “will drive the commercialization of space and broaden consumer access to safe, efficient, and environmentally responsible new forms of transportation,” and “unlock the future” of space travel and high-speed mobility.

(Photo: Accura Media Group)

Accura News

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