Two entrepreneurs with a love of space have joined forces to create a company that will take passengers to space.

Geoff Sheerin, President of Canadian Arrow and Dr. Chirinjeev Kathuria have announced that they have joined forces to form a new corporation called PLANETSPACE that will complete construction and testing of its first suborbital rocket called the Canadian Arrow. The goal of the company is to make space flight available to the public within 24 months.

PLANETSPACE expects to fly almost 2,000 new astronauts in the first five years of flying and generate revenue from suborbital flights of USD $200 million in the fifth year. Fares will start at USD $250,000 for a suborbital flight, including fourteen days training.

Canadian Arrow has completed a number of increasingly powerful engine tests, as well as a successful drop test of the space capsule and recovery system. Canadian Arrow’s most recent engine test achieved 50,000 pounds of thrust, demonstrating Canadian Arrow’s ability to achieve suborbital flight and making it the most powerful liquid propellant rocket engine ever built and tested in Canada. Canadian Arrow has also filed for patents on its rocket vehicle and engine modifications.

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