Press Release
Press Release
Press Contacts: Erik Cummins, Matt Hyams, Olivia Thomas
03.04.20
HOUSTON—A team of Pillsbury Insolvency & Restructuring lawyers led by partner Hugh Ray III and counsel Jason Sharp and working with Shaun Martin of Winter Harbor LLC, advised Vector Launch in the sale of a satellite and satellite technology patents.
“This is just the first step in the sales process,” Ray said. “We are now marketing the rocket fabrication, design, and testing assets, including working equipment and erector-launchers. We look forward to a competitive and robust bidding process.”
Vector Launch’s engineering facility is located in Huntington Beach, California and the fabrication facility is in Tucson, Arizona. Vector uses a patented propylene propellant mixture that has been tested on rocket motors in the desert near Tucson.
An August 2019 test of one of the rocket engines was successful at thrust for over two minutes. Click here to watch.
Vector had positioned itself to provide revolutionary satellite launch possibilities and was still in product development when the equity funding was lost and the company was forced into bankruptcy. Now the key assets of the company are up for sale.