NASA Invests $1B To Build The First Commercial Spaceships

Law360, New York (August 3, 2012, 6:45 PM EDT) -- NASA on Friday announced three contracts worth $1.1 billion to companies vying to transport American astronauts to the International Space Station, kicking off a program that aims to complete the development of three privately-owned spacecraft and create a new private space industry capable of safely transporting humans to low orbit.

The contracts represent the third phase of NASA's Commercial Crew Program, which seeks to develop contractor-owned space taxis that replace the space shuttle's ability to take humans into low Earth orbit while NASA focuses on a...
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