After stepping down as Google’s CEO fifteen years ago, Eric Schmidt has only recently taken on a new leadership role at this level, heading up the nine-year-old aerospace startup Relativity Space. The appointment was reported yesterday by TechCrunch.
Image source: Relativity Space
The topic gained publicity after a New York Times article reported on Schmidt’s purchase of a large stake in the startup, which effectively allowed him to gain control of the company. Relativity Space founder Tim Ellis gave up his position as CEO to Schmidt, but will continue to be involved in the company’s fate as a member of its board of directors.
The Terran R launch vehicle is scheduled for 2026, competing with SpaceX’s Falcon 9 and Falcon Heavy. Even before the first launch of Terran R, Relativity Space has signed contracts with customers worth nearly $3 billion, The New York Times reports. Schmidt, who led Google for a decade, can offer Relativity Space not only extensive management experience but also access to potential investors. This is especially true given that the company had trouble financing its operations last year.
The company uses innovative approaches to building its rockets, including 3D printers, robots, and artificial intelligence. Back in 2023, the first successful flight of the Terran 1 rocket, created with the active use of 3D-printed components, took place. However, the rocket failed to reach Earth orbit, and the company decided to stop further improving it, focusing on the development of its successor, Terran R.