SpaceX

Finally, the SpaceX Falcon has successfully launched after three previous failures. This craft is basically “a two stage rocket powered by liquid oxygen and liquid kerosene capable of lifting about 450 kg into low orbit at a cost of about $7 million.” Video after the break.

SpaceX’s Falcon 1 rocket successfully entered low Earth orbit yesterday, making it the first privately funded liquid fuel rocket to reach orbit with a payload.

[via OhGizmo]