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2mo ago

Eric Schmidt Becomes CEO of Relativity Space as Terran R Rocket Development Advances

The former Google CEO takes a controlling stake in the rocket startup, aiming to challenge SpaceX with a reusable medium-to-heavy lift rocket by 2026.

Image
A Terran 1 rocket in the Transporter Erector at Launch Complex 16 —during a tour of Relativity Space at Cape Canaveral Space Force Station on Tuesday, Dec. 6, 2022. (Ricardo Ramirez Buxeda/Orlando Sentinel)
Relativity Space Terran R
Eric Schmidt was the CEO of Google until 2011. Now he's

Overview

  • Eric Schmidt, former CEO of Google, has been named CEO of Relativity Space, replacing co-founder Tim Ellis, who will remain on the board.
  • Schmidt has made a significant financial investment in the company, securing its financial stability after prior funding challenges.
  • Relativity Space is focusing on the development of its Terran R rocket, a medium-to-heavy lift vehicle designed to compete with SpaceX’s Falcon 9 and Blue Origin’s New Glenn.
  • The company has completed a critical design review for Terran R and begun production, with a first launch targeted for late 2026 at Cape Canaveral.
  • The Terran R will feature a mix of 3D-printed and traditionally manufactured components to accelerate production, with plans for partial reusability in early launches and full reusability in future iterations.