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00:02German rocket maker Isar Aerospace reached orbit for the first time Saturday, marking
00:07a milestone for Europe's commercial space industry, according to CNBC.
00:11The Munich-based company Spectrum rocket deployed payloads in low-Earth orbit on its
00:16second test flight.
00:17Chief Commercial Officer Stella Guillen said Isar is now focused on scaling production
00:22and launch frequency to meet growing demand.
00:25She said the company has a pipeline worth more than $11.6 billion, though Isar did not
00:31clarify how much represents contracted orders.
00:33The SpaceX rival raised €270 million in June to scale production and expand its global launch
00:40network.
00:41Guillen said Isar ultimately aims to launch hundreds of rockets as Europe works to build
00:46a homegrown commercial launch industry.
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