XCOR Aerospace went into bankruptcy last year. Before such a situation company had very high plans to take tourists to space with the help of its Lynx suborbital vehicle. But after it turned bankrupt, it has been decided to use the assets f the company for a very noble cause: to impart hands-on training to high school and college students with space technology and rockets. In this situation, a non-profit organization named as Build a Plane acquired the assets of the company at a valuation of $1.1 million, as per the court records. This amount was only a bit higher than $1 million as per the bid offered by Space Florida. This company was also one of the biggest creditors of XCOR.
The founder of Build a Plane has the noble plans of using the assets of the company to establish a new school in Lancaster, California. The founder also added that he has plans to bring students all over the country and teach them about the basics of aerospace as well as rocketry. The additional feature will be that the school will be located alongside a properly functioning aerospace company. This will do to ensure that when the students learn about the different aspects of space rocketing in details; simultaneously they will have practical experience in regards to their theoretical knowledge as well.
The partner who is dealing with this project in association with the non-profit organization will be Sage Cheshire Aerospace. It is a Lancaster based company which mainly deals with the fabrication jobs. Both the partners are in search of finding a plot on which the desired school will be built.
This project is the biggest project that the organization, Built A Plane, has undertaken. This project marks their way into the aerospace industry. This organization is associated with more than 15 years in getting commercial companies to donate planes to school students who can thereby learn all the niches of aircraft building, starting from structuring to repairing to refurbishing. Till date, the non-profit organization has placed more than 300 aircraft with different schools as well as aviation clubs.
Last year, this organization increased its scope with the help of Build A Rocket when a donor asked to do so. This offer gave the non-profit organization to enter into the field of rocketing as well. Thus Build A Plane was able to strengthen its position in both the fields.