Jeff Bezos's Blue Origin will not launch its New Glenn rocket this year after a major explosion during testing forced delays, pushing the next launch to January 2027. The company is reconstructing its Florida launchpad following the May anomaly that occurred days before planned Amazon satellite deployment. Severe summer weather and recent flash floods have further complicated the rebuild.
Blue Origin has struggled to keep pace with rival Space X, which underwent a blockbuster IPO in June and has made sharp progress with its Starship rocket. Previously planning 12 New Glenn flights this year, the company now faces significant setbacks. Blue Origin raised $10 billion at a $140 billion post-money valuation earlier this year in its first-ever fundraising.
Coatue led the round, with Bezos investing a further $2 billion, having plowed roughly $28 billion into the space company since its 2000 founding. Josh Parker, an analyst at Capstone, noted the delays were inevitable given the magnitude of the May blast. Dave Limp told employees the company had "accomplished what many thought would take years" and had made strides repairing its Florida site since recovering the New Glenn wreckage.
Blue Origin holds a $3.4 billion NASA contract for an Artemis lunar lander. Amazon has contracts for 24 launches to build its Leo internet business, forcing Blue Origin to rely on United Launch Alliance and Space X for other missions. Blue Origin declined to comment.
Source: Financial Times Companies · Summarized by HeadlinesBriefing