Company Announces Completion of Mission Concept
Review Program Milestone
Virgin Galactic Holdings, Inc. (NYSE: SPCE) (“Virgin Galactic”),
a vertically integrated aerospace and space travel company, which
includes its manufacturer of advanced air and space vehicles, The
Spaceship Company (“TSC”), announced today the first stage design
scope for the build of its high speed aircraft design, and the
signing of a non-binding Memorandum of Understanding (MOU) with
Rolls-Royce to collaborate in designing and developing engine
propulsion technology for high speed commercial aircraft. This
follows the successful completion of its Mission Concept Review
(“MCR”) program milestone and authorization from the Federal
Aviation Administration’s (“FAA”) Center for Emerging Concepts and
Innovation to work with Virgin Galactic to outline a certification
framework. This marks an exciting step forward in Virgin Galactic’s
development of a new generation of high speed aircraft, in
partnership with industry and government leaders, with a focus on
customer experience and environmental sustainability.
Rolls-Royce is a leader in the cutting-edge technologies that
deliver clean, safe and competitive solutions to the planet’s vital
power needs. Rolls-Royce has a proven record of delivering high
Mach propulsion, powering the only civil-certified commercial
aircraft (Concorde) capable of supersonic flight.
George Whitesides, Chief Space Officer, Virgin Galactic said,
“We are excited to complete the Mission Concept Review and unveil
this initial design concept of a high speed aircraft, which we
envision as blending safe and reliable commercial travel with an
unrivalled customer experience. We are pleased to collaborate with
the innovative team at Rolls-Royce as we strive to develop
sustainable, cutting-edge propulsion systems for the aircraft, and
we are pleased to be working with the FAA to ensure our designs can
make a practical impact from the start. We have made great progress
so far, and we look forward to opening up a new frontier in high
speed travel.”
“We are excited to partner with Virgin Galactic and TSC to
explore the future of sustainable high speed flight,” said
Rolls-Royce North America Chairman & CEO Tom Bell. “Rolls-Royce
brings a unique history in high speed propulsion, going back to the
Concorde, and offers world-class technical capabilities to develop
and field the advanced propulsion systems needed to power
commercially available high-Mach travel.”
The Mission Concept Review, which included representatives from
NASA, is an important program milestone at which the Virgin
Galactic high speed team confirmed that, based on the research and
analysis work completed, its design concept can meet the high-level
requirements and objectives of the mission. Previously, NASA signed
a Space Act Agreement with Virgin Galactic to collaborate on high
speed technologies.
The basic parameters of the initial high speed aircraft design
include a targeted Mach 3 certified delta-wing aircraft that would
have capacity for 9 to 19 people at an altitude above 60,000 feet
and would also be able to incorporate custom cabin layouts to
address customer needs, including Business or First Class seating
arrangements. The aircraft design also aims to help lead the way
toward use of state-of-the-art sustainable aviation fuel.
Baselining sustainable technologies and techniques into the
aircraft design early on is expected to also act as a catalyst to
adoption in the rest of the aviation community.
The MCR concluded that the team can progress to the next phase
of design, consisting of defining specific system architectures and
configurations, and determining which materials to use in the
design and manufacturing of the aircraft. The team will also work
to address key challenges in thermal management, maintenance,
noise, emissions, and economics that routine high speed commercial
flights would entail.
The design philosophy of the aircraft is geared around making
high speed travel practical, sustainable, safe, and reliable, while
making customer experience a top priority. Virgin Galactic is
designing the aircraft for a range of operational scenarios,
including service for passengers on long-distance commercial
aviation routes. The aircraft would take off and land like any
other passenger aircraft and be expected to integrate into existing
airport infrastructure and international airspace around the
world.
Virgin Galactic is working closely with international regulatory
communities to ensure compliance with safety and environmental
standards. Last week the FAA’s Center for Emerging Concepts and
Innovation reviewed the project direction and authorized FAA
resources to work with the Virgin Galactic team to begin to outline
a certification framework during the pre-project guidance phase.
Virgin Galactic believes that working together with regulators and
industry leaders such as Rolls Royce and Boeing will support the
mission to broaden and transform global travel technologies, with a
focus on customer experience.
About Virgin Galactic
Virgin Galactic is a vertically-integrated aerospace and space
travel company, pioneering human spaceflight for private
individuals and researchers, as well as a manufacturer of advanced
air and space vehicles. Using its proprietary and reusable
technologies and supported by a distinctive, Virgin-branded
customer experience, it is developing a spaceflight system designed
to offer customers a unique, multi-day, transformative experience.
This culminates in a spaceflight that includes views of Earth from
space and several minutes of weightlessness that will launch from
Spaceport America, New Mexico. Virgin Galactic and The Spaceship
Company believe that one of the most exciting and significant
opportunities of our time lies in the commercial exploration of
space and the development of technology that will change the way we
travel across the globe in the future. Together we are opening
access to space to change the world for good.
Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of federal securities laws with respect to
Virgin Galactic Holdings, Inc. (the “Company”), including
statements regarding the Company’s design and development of
commercial aircraft for high-speed travel. These forward-looking
statements generally are identified by words such as “believe,”
“project,” “expect,” “anticipate,” “estimate,” “intend,”
“strategy,” “future,” “opportunity,” “plan,” “may,” “should,”
“will,” “would,” and similar expressions. Forward looking
statements are predictions, projections and other statements about
future events that are based on current expectations and
assumptions and, as a result, are subject to risks and
uncertainties. Many factors could cause actual future events to
differ materially from the forward-looking statements in this
presentation, including but not limited to the factors, risks and
uncertainties regarding the Company’s business described in the
documents filed by the Company from time to time with the
Securities and Exchange Commission (the “SEC”). These filings
identify and address other important risks and uncertainties that
could cause the Company’s actual events and results to differ
materially from those contained in the forward-looking statements.
Forward-looking statements speak only as of the date they are made.
Readers are cautioned not to put undue reliance on forward-looking
statements, and, except as required by law, the Company assumes no
obligation and does not intend to update or revise these
forward-looking statements, whether as a result of new information,
future events, or otherwise.
About Rolls-Royce Holdings plc
1. Rolls-Royce pioneers cutting-edge technologies that deliver
clean, safe and competitive solutions to meet our planet’s vital
power needs.
2. Rolls-Royce aims to become net zero carbon in its operations
by 2030 and, more fundamentally, set an ambition to play a leading
role in enabling the sectors in which we operate to reach net zero
carbon by 2050 through the development of new products and
technologies.
3. Rolls-Royce has customers in more than 150 countries,
comprising more than 400 airlines and leasing customers, 160 armed
forces, 70 navies, and more than 5,000 power and nuclear
customers.
4. In 2019, Rolls-Royce invested $1.81 billion on research and
development. We also support a global network of 29 University
Technology Centers – including Purdue University, Virginia Tech and
the University of Virginia in the U.S. – which position Rolls-Royce
engineers at the forefront of scientific research.
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For Investor Relations inquiries please contact:
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For Rolls-Royce media inquiries please contact: Don
Campbell, Director of Communications Rolls-Royce North America
Email: Donald.Campbell@rolls-royce.com Mobile: (703) 689-1525
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