New President And CEO Also Announced
The Rocket Racing League announced the closing of a $5.5
million dollar financing round Friday, ensuring the next phase of
development of the league. It also announced the appointment of a
new President & CEO and the commencement of manufacturing
activities for its next generation Rocket Racer.
The financing round, lead by Augustus Ventures Limited and
America's Cup winner Bill Koch, puts the League on track for
execution of its plans to launch the world's first interactive
sport pitting pilot against pilot in manned rocket powered
airplanes competing through a Raceway-in-the-Sky.
Leading the Rocket Racing League in this next phase of growth is
aviator, gaming and simulation "serial entrepreneur" Ramy Weitz.
Mr. Weitz has been a director of the Rocket Racing League on behalf
of Equalia Capital SA from inception in 2005, and is also a leading
aviator actively piloting some of the world's most advanced
aircraft in operation today. Mr. Weitz takes over from
Granger Whitelaw who will remain actively involved as Co-Founder,
director and advisor to the League during this next important phase
of growth. "I have enjoyed leading the company for the past 4 years
and look forward to handing the day to day operations over to my
friend Ramy," said Granger Whitelaw, Co-Founder. "Ramy has a
fantastic technology background and is a perfect choice for us as
we focus on building the next phase of Rocket Racing and I am
excited to help him do it."
July 2009 also marks the kick-off of the manufacture of the
League's next generation Rocket Racer, an advanced design based
upon the current ships already built, flown and FAA-certified in
2008, in a collaborative partnership with Armadillo Aerospace of
Rockwall, Texas and Velocity, Inc., of Sebastian, Florida.
"I am honored to begin my new role at Rocket Racing, having
served for the past three years as a Director. With a renewed focus
on our technology development and rollout of the newly designed
Rocket Racers, I believe we will soon deliver an exciting new sport
to our fans everywhere," said Ramy Weitz, Rocket Racing's newly
appointed CEO.
"The successful close of this financing round during a down
economy is validation of the League's business plan and its
ability to hit key milestones as we move closer to the launch of
this new and exciting sport," said Dr. Peter H. Diamandis, Rocket
Racing League co-founder and Chairman of the Board. "The Board
fully supports Ramy's near-term focus on technology development and
demonstration. I personally look forward to his leadership
which will take the Rocket Racing League into its operational and
revenue stage of growth."