Aerospace startup Vector — a US company developing small rockets to send small satellites into orbit — announced on Friday it is pausing operations due “to a significant change in financing.” The company’s CEO, Jim Cantrell, has also left and been replaced by John Garvey, one of the company’s co-founders.
Those abrupt changes for the company come just a few days after Vector received its first launch contract from the US Air Force valued at $3.4 million. Now, the company says it will try to figure out how to move forward. “A core team is evaluating options on completing the development of the company’s Vector-R small launch vehicle, while also supporting the Air Force and other government agencies on programs such as the recent ASLON-45...
