Boeing has confirmed that it is investing US$20
million in Virgin Galactic, a vertically integrated human
To date, Virgin Galactic has invested $1 billion
of capital to build reusable human spaceflight systems designed to
enable significantly more people to experience space.
In July, the company announced its intent to become a
publicly-listed entity via a business combination with Social
Capital Hedosophia Holdings Corp. The Boeing investment will be in
return for new shares in Virgin Galactic and is therefore
contingent on the closing of that transaction, which is expected
to close in Q4 2019, and any such investment
will be in the post-business combination company.
"Boeing's strategic investment facilitates our
effort to drive the commercialization of space and broaden
consumer access to safe, efficient, and environmentally
responsible new forms of transportation," said Brian Schettler,
senior managing director of Boeing HorizonX Ventures. "Our work
with Virgin Galactic, and others, will help unlock the future of
space travel and high-speed mobility."
The investment brings together two companies
with extensive experience in the space industry.
is a pioneer of commercial human space flight and is the first and
only company to have put humans into space in a vehicle built for
commercial service, having built and flown a Mach 3 passenger
vehicle. Through its manufacturing and development capabilities,
Virgin Galactic can design, build, test, and operate a fleet of
advanced aerospace vehicles.
Boeing has unsurpassed experience
transporting people to orbit and building and operating large
structures in that challenging environment. A part of every U.S.
manned space program, Boeing serves as NASA's prime contractor for
the International Space Station (ISS) and is preparing the new,
reusable, Starliner space capsule for launch to the ISS.
"This is the beginning of an important
collaboration for the future of air and space travel, which are
the natural next steps for our human spaceflight program," said
Sir Richard Branson, founder of Virgin Galactic. "Virgin Galactic
and Boeing share a vision of opening access to the world and
space, to more people, in safe and environmentally responsible