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"Virgin Galactic on Wednesday announced LauncherOne, a new rocket-propelled \"launch vehicle\" designed to deploy satellites at a fraction of the current cost.\nLauncherOne is a rocket that is launched from Virgin Galactic's White Knight Two carrier aircraft. Virgin Galactic claims the new rocket \u2014 which travels at 80,000 mph and can circle the earth in 90 minutes \u2014 will cut the cost of deploying a satellite from the current $30 million to $40 million to $10 million. A maiden flight is expected in 2015 or 2016. The concept is currently being created in Mojave and Pasadena, Calif.\nThe idea of a new commercial satellite launcher isn't new \u2014 Virgin has been mulling the concept since 2009. But the project was superseded in recent years by SpaceShipTwo, a commercial space ship that is expected to offer commercial flights in 2013. \nThe company's CEO, Richard Branson, announced at the Farnborough International Airshow in England on Wednesday that Virgin Galactic has taken deposits from 529 people at a cost of $200,000."^^<http://www.w3.org/2001/XMLSchema#string>
<http://mashable.com/2012/07/11/virgin-galactics-launcherone-aims-to-make-satellite-deployment-cheaper/>