NZ startup Rocket Lab makes space travel feasible

New Zealand tech is again blowing up headlines world wide, but this time, you could say it’s soaring to new heights.

Rocket Lab, an Auckland based company started by Peter Beck, has designed a rocket that costs only $5 million USD ($5.84 million NZD). Although that figure is well out of most of our budgets, this is a 95% reduction of the average cost of sending a rocket to space, which is $133 million USD.

Currently, the biggest obstacle that’s hindering increased space travel is the sheer cost of it, but Rocket Lab’s Electron rocket will open up new possibilities and opportunities at an incredibly low price.

In an interview with NZ Herald, Peter Beck said that over 30 companies worldwide have already made commitments to purchase the Electron.

With a new round of funding in their pocket from Khosla Ventures, K1W1, and a $25 million Government grant, the company is now looking to hire 30 rocket engineers to build and develop the electrons.

Words can’t really do this accomplishment justice, but this video by Rocket Labs comes pretty close.

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