Relativity Space has a new boss. Eric Schmidt, the former CEO of Google, who led the tech giant from 2001 to 2011 (and until 2017 with parent company Alphabet), has taken a majority stake in the space startup that was struggling to find the financial resources needed to build its first rocket.
In his career, Eric Schmidt notably orchestrated Google's IPO in 2004, and oversaw the company's expansion into services like Gmail, Maps, Android, and YouTube. Since his departure, he has particularly focused on artificial intelligence and defense as a government advisor. His technological investments have now pushed him towards the world of aerospace, like Elon Musk and Jeff Bezos.
A rocket competing with the Falcon 9
Based in Long Beach, California, Relativity Space made a name for itself in 2023 with a first launcher mainly manufactured by 3D printing. Today, his teams are working on "Terran R", a competitor to SpaceX's Falcon 9, which is supposed to be able to send 33.5 tons into low orbit, including 23.5 tons if the first stage is reused.
"Today marks an important new chapter with the appointment of Eric Schmidt as CEO of Relativity, while providing substantial financial support," commented the startup's co-founder, Tim Ellis. "I know there is no one more tenacious or more passionate to advance this dream." A dream that will have to ride a trend: that of megaconstellations, and the growing need for launchers to propel satellites into low orbit.
"We are not afraid to change"
The arrival of Eric Schmidt should give a new boost of popularity to the startup that has lost its aura since its project with Terran R took it away from its initial objective of a rocket developed by 3D printing. "At Relativity Space, we are not afraid to change and pivot where "We need it," the company's CTO Kevin Wu said in a video posted to the startup's YouTube channel.
As Ars Technica reporter Eric Berger noted, Relativity Space has been notably quiet over the past six months. But everything should accelerate this year, with a first version of the rocket, and a first launch from Cape Canaveral in Florida, in 2026 at the earliest. On this occasion, the objective will not be to recover the first stage on Earth, but to make it fall "gently" into the Atlantic Ocean.
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