Raphael Thys
An artist’s rendering shows Radian’s reusable space plane. (Radian Aerospace Illustration)
More than five years after its founding, Renton, Wash.-based Radian Aerospace is emerging from stealth mode and reporting a $27.5 million seed funding round to support its plans to build an orbital space plane.
The round was led by Boston-based Fine Structure Ventures, with additional funding from EXOR, The Venture Collective, Helios Capital, SpaceFund, Gaingels, The Private Shares Fund, Explorer 1 Fund, Type One Ventures and other investors.
Radian has previously brought in pre-seed investments, but the newly announced funding should accelerate its progress.
One of the company’s investors and strategic advisers, former Lockheed Martin executive Doug Greenlaw, said Radian was going after the “Holy Grail” of space access with a fully reusable system that would provide for single-stage-to-orbit (SSTO) launches.
It’ll take much more than $27.5 million to grab the grail: In the late 1990s, NASA spent nearly a billion dollars on Lockheed Martin’s X-33 single-stage-to-orbit concept before the project was canceled in 2001. But Radian’s executives argue that technological advances have now brought the SSTO vision within reach.
“What we are doing is hard, but it’s no longer impossible thanks to significant advancements in materials science, miniaturization and manufacturing technologies,” Livingston Holder, Radian’s co-founder and chief technology officer, said today in a news release.
Holder was part of the U.S. Air Force’s Manned Spaceflight Engineer program in the 1980s — and went on to become a program manager at Boeing, focusing on reusable space systems. The design for Radian’s space plane was inspired by Boeing’s 1970s-era concept for a Reusable Aerodynamic Space Vehicle, or RASP.
For the past few years, Radian has been working on rocket engine development at its Renton headquarters and at a testing facility near Bremerton, Wash. Ars Technica reported that the liquid-fueled engine is designed to provide about 200,000 pounds of thrust, and that the space plane would be powered by three of the engines. The current design would support carrying up to five people and 5,000 pounds of cargo into orbit, Ars Technica reported.