Rocketplane emerges from bankruptcy, keeps reaching for moon

The remnants of Rocketplane Kistler, which was once based in Oklahoma City, sold at auction for $25,000. But company officials say they’re still in the space race, and still want to fly from the Oklahoma Spaceport at Burns Flat.

BY JENNIFER PALMER Published: January 13, 2013
Advertisement
;

Rocketplane’s chief executive officer, George French, hasn’t stopped reaching for the moon.

His space companies, and French personally, have been through bankruptcy. The remnants of Rocketplane Kistler, which claimed an $18 million tax credit while based in Oklahoma City, sold at auction for $25,000.

The buyer, Craig...

Oklahoman subscribers have access to this article. Unlock it below.

What is this? Learn more.

NewsOK.com has disabled the comments for this article.

Timeline

2001: California-based Rocketplane is one of seven companies nationwide that signs a “gentleman’s agreement” to come to the Oklahoma Spaceport under a new law allowing tax credits for companies investing in Oklahoma’s space industry.

2003: Rocketplane qualifies for an $18 million tax credit in Oklahoma.

2004: Rocketplane sells the tax credit and uses the proceeds to set up shop and hire employees. It also releases specifications of its XP spacecraft and says it can take tourists into space by 2006 for just under $100,000 each.

2005: Rocketplane pushes launch date to 2007 and raises the ticket price to $200,000. Former NASA astronaut John Herrington joins the staff.

2006: Rocketplane merges with Kistler Aerospace Corp. and receives a $207 million NASA contract to develop a rocket-powered vehicle to reach orbital space. The Oklahoma Spaceport receives approval from the Federal Aviation Administration.

2007: NASA drops its deal with Rocketplane after the company fails to raise enough private funding.

2008: Herrington resigns as Rocketplane pilot.

2009: Rocketplane abandons its office at Will Rogers World Airport and relocates to Wisconsin.

2010: Rocketplane files for Chapter 7 bankruptcy in Wisconsin, as does CEO George French.

2011: The remnants of Rocketplane Kistler sell for $25,000 at an auction in Green Bay, Wis.

Trending Now


AROUND THE WEB

  1. 1
    Report: Caron Butler close to two-year deal with Detroit Pistons
  2. 2
    It’s harder to be a poor student in the U.S. than in Russia
  3. 3
    Man fatally stabbed in west Tulsa early Sunday
  4. 4
    How brain imaging can be used to predict the stock market
  5. 5
    Bridenstine tours Fort Sill, satisfied with facility's transparency
+ show more