Kistler eyes SAR, Taiwan for rocket-launch test funds

United States-based Kistler Aerospace is looking to Hong Kong and Taiwan to help raise US$145 million to begin test flights of its re-usable rocket launcher.

Kistler has developed a transportable two-stage launcher, the K-1, that will parachute back to Earth after delivering a satellite into low-earth orbit (LEO). The technology will slash costs and make commercial satellite programmes more viable.

Kistler chairman Robert Wang, who was raised in Hong Kong, said the company needed $45 million to complete the first of two launch-tower facilities in Australia and $100 million for final assembly of its fleet of rockets.

Its first rocket is now 80 per cent complete and a test launch has been scheduled for the start of next year.

The firm has already secured $1.3 billion in launch contracts - $100 million in firm commitments - while the remainder is subject to a successful test launch.

A year ago when Mr Wang last visited Asia to raise funds, Hong Kong and Taiwan investors - including well-known local billionaires Li Ka-shing and Lee Shau-kee - invested about $50 million for the start-up.

Recently, Northrop Grumman, a US aerospace firm responsible for the K-1 rocket's development, injected $30 million in Kistler with a further $30 million to be invested as part of Kistler's last round of financing. It also holds an option to invest a further $120 million.