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Eric Schmidt Named CEO of Relativity Space Amid Major Terran R Developments

The former Google CEO takes a controlling stake in the rocket startup as it progresses toward a planned 2026 launch of its medium-lift Terran R rocket.

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 appointed CEO of Relativity Space, succeeding co-founder Tim Ellis, who will remain on the company's board.
  • Schmidt has made a significant financial investment in the company, bringing financial stability after previous fundraising challenges.
  • Relativity Space is advancing its Terran R rocket, completing a critical design review and testing key components, with a first launch targeted for late 2026.
  • The Terran R, designed to rival SpaceX’s Falcon 9, has secured $2.9 billion in customer contracts and aims to support the growing demand for cost-effective launches.
  • The company has shifted away from its earlier focus on 3D printing for certain components, opting for traditional manufacturing methods to expedite production.