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CASIC company raises funds for rocket development

20 December 2017

The CASIC Rocket Technology Company, a joint venture (JV) between the China Aerospace Science and Industry Corporation (CASIC) and China Sanjiang Space Group, has raised funds to support the development of dual-use rocket systems.

China’s official Xinhua news agency reported on 19 December that the CASIC Rocket Technology Company, also known as ExSpace, generated CNY1.2 billion (USD181.5 million) through funding agreements with eight private investment firms at the Shanghai United Assets and Equity Exchange.

The chairman of ExSpace, Zhang Di, said the JV’s original shareholders did not participate in the capital raising. “The fund will be mainly invested in the development of Kuaizhou series carrier rockets, the rocket assembly facility and other upstream and downstream commercial space businesses,” he said, according to the Xinhua report.

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