A date has been given for the first rocket developed by a private company to launch into orbit in Germany. Founded as a start-up in Munich and backed by many investors, including Airbus and Earlybird, Isar Aerospace aims to represent Germany in the space race.

Daniel Metzler, co-founder and CEO of Isar, said they had half a billion euros worth of investments, 95% from private firms.

The rocket, which is 27 meters long and is scheduled to carry more than a ton of cargo, is working to fly at least 20 flights a year into orbit.

Isar said they used 3D printers to cut costs and produce 40% of rocket engines.

Private companies are becoming more and more common in the space race. On May 30, 2020, the U.S. National Aeronautics and Space Administration (NASA) and SpaceX sent astronauts into orbit in collaboration.