Beal aerospace tried to build a really cheap satellite launch system based on hydrogen peroxide and kerosene that could probably have undercut all other launch systems, including, noteably, the Russian launchers. However the billionaire's business failed whilst achieving most of the important technical goals.
Founder and CEO, Andrew Beal stated when he folded this company:
"The most insurmountable risk is the desire of the U.S. government and NASA to subsidize competing launch systems, NASA has embarked on a plan to develop a 'second-generation' launch system that will be subsidized by U.S. taxpayers and that will directly compete with the private sector."
"We find it inexcusable and intolerable that NASA intends for these subsidized systems to additionally compete for non-human-rated missions, including cargo for the space station and commercial satellite missions."
"Unfortunately, development of a reliable low-cost system is simply not enough to insure commercial viability, there will never be a private launch industry as long as NASA and the U.S. government choose and subsidize launch systems."
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