Rocket Lab announces a reusable rocket and its plans to go public

The California-based space company Rocket Lab has announced a new reusable rocket called Neutron that can compete with SpaceX's Falcon 9 rocket. Standing at double the height (40 meters/131ft) of their Electron rocket, Neutron will be able to carry 8,000 kilograms to orbit. Only the rocket's first stage will be fully reusable, just as in Falcon 9.

Rocket Lab has also announced that it has agreed to go public through a merger with a blank-check firm backed by Vector Capital. With the SPAC merger, Rocket Lab will boast a pro forma valuation of $4.1 billion.

Zoom In: Rocket Lab states that Neutron will launch from an ocean landing platform similar to SpaceX's Falcon 9 booster. The rocket will initially carry the satellite payloads. However, it will also be capable of ISS (International Space Station) resupply and human spaceflight missions. Neutron will launch for the first time in 2024.

Zoom Out: Reusable rockets significantly lower the costs of space transport and commercial space flights. Elon Musk's SpaceX uses its Falcon 9 rockets based on this aim.

Previously On...: A couple of weeks ago, we also covered Relativity Space's announcement to develop a fully reusable 3D-printed rocket called Terran R. Terran R, if successfully created, will be the leader in cost reduction due to its fully reusable design different from Falcon 9 and Neutron.