White Knight 2, "Eve"
During Airventure 2009, Virgin Group, parent of Virgin Galactic announced a strategic partnership with Aabar Investments who will take an equity spake in the space venture, Virgin Galactic. Aabar will acquire a 32% stake in Virgin Galactic for $280M as well as providing $100M for development in satellite launch capabilities. They also intend to construct a spaceport in Abu Dhabi.
Virgin Galactic, the start-up space venture which is to offer sub-orbital rides, displayed White Knight 2, dubbed “Eve,” the mothership designed to carry a hybrid rocket, at Airventure 2009 in Oshkosh, Wisconsin, this weekend. The all composite craft, will climb up to an altitude of 50,000 feet to drop the spacecraft “SpaceShipTwo” for its Mach 3 ascent to 110 kilometers. 300 have paid $20,000 for reservations for the flight and will pay $200,000 for the actual ride.
Sir Richard Branson said, “We are delighted to partner with Aabar in a strategic deal that is a first for Virgin Galactic. The initiative will leverage the solid financial backing of Aabar and the pioneering technology and strong global relationships of Virgin Galactic. This exciting deal is indicative of the interesting and high value investments that mark the UAE’s commercial portfolio.”
The company is an offshoot from the original SpaceShipOne, Ansari X-Prize winner for the first non-government entity to reach outer space, 100 kilometers miles above the ground, twice in two weeks. Scaled Composites, the builder of SpaceShipOne, is also the developer and manufacturer of the Virgin Galactic mothership and spacecraft.
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