Saturday, November 22, 2008

Joint Venture -

ROCKET RACING, INC., ARMADILLO AEROSPACE CREATE JOINT VENTURE FOR SPACE TRAVEL AT SPACEPORT AMERICA
LAS CRUCES, NM – A new joint venture announced between Rocket Racing, Inc., and
Armadillo Aerospace has a goal of making private space flight more affordable than ever, and
doing it from New Mexico’s Spaceport America. The companies plan to build a fleet of
reusable Vertical Take-Off and Landing (VTOL) vehicles that will give passengers a 360-
degree view of weightless flight for a target price of $100,000 or less. The companies plan to
fly an initial manned prototype in 2009, with manned flights to space in 2010.

The New Mexico Spaceport Authority (NMSA) is pleased that the companies intend to use
Spaceport America as their base of operations with manufacturing and office headquarters at
the Las Cruces, NM airport. “The dream of private spaceflight is growing closer to reality
every day,” said NMSA Executive Director Steve Landeene, “And this joint venture between
two established companies that have helped pioneer commercial spaceflight means that the
future is quickly approaching.” There have been several commercial launches for various
clients from the site of Spaceport America since April 2007, and roadwork to the site is well
underway. The architectural firm of URS Foster + Partners have created a design for the
hangar and terminal facility, and the site layout and design are essentially done.

Under the terms of the agreement, Armadillo Aerospace will develop the reusable launch
vehicle and provide support on the ground. Rocket Racing Technology Development, a
separate subsidiary of Rocket Racing, Inc., will provide business and operational management
for the venture, as well as financing for initial research and development. Granger Whitelaw,
CEO of Rocket Racing, Inc., said that, “The price of space is coming down to earth… Human
beings will be treated to the most stellar views in the galaxy.”

Spaceport America holds great promise for New Mexico’s economic future and has been
working closely with leading aerospace firms such as Lockheed Martin, UP Aerospace,
Virgin Galactic, Microgravity Enterprises and Payload Specialties. With planning moving
along rapidly, the NMSA currently projects that licensed vertical launches should begin in
the first quarter of 2009 and that the terminal and hangar facility for horizontal launches
should be completed by 2010.