An artist's illustration of the difference in size between the company's Terran 1 rocket, to the left, and the planned Terran R rocket. Relativity Space
Relativity Space, the 3D-printing rocket builder, is making another big bet: Developing a fully reusable rocket, designed to match the power and capability of SpaceX's workhorse Falcon 9 rockets.
Called Terran R, the reusable rocket is "really an obvious evolution" from the company's Terran 1 rocket, Relativity CEO Tim Ellis told CNBC – the latter of which Relativity expects to launch for the first time later in 2021.
"It's the same architecture, the same propellant, the same factory, the same 3D printers, the same avionics and the same team," Ellis said.
"I've always been a huge fan of reusability. No matter how you look at it – even with 3D printing, and dropping the cost, and [increasing the] automation of a launch vehicle – making it reusable has got to be part of that future," Ellis added.
Terran R is the first of several new initiatives that Ellis expects Relativity to unveil in the year ahead, with the company having raised more than $680 million since its founding five years ago. Just like Terran 1, Relativity will build Terran R with more than 90% of the parts through additive manufacturing – utilizing the world's largest 3D printers as what Ellis calls "the factory of the future."
Relativity, valued at $2.3 billion, ranks as one of the most valuable private space companies in the world. Its investors include Tiger Global Management, Fidelity, Baillie Gifford , Mark Cuban and more.
The factory floor of Relativity's new headquarters in Long Beach, California. Relativity Space
Ellis emphasized that – even with Terran R's announcement – Relativity is "very focused on getting Terran 1 to first launch," which he said is still on track to happen later this year.
And the company plans to keep Terran 1 long term as Ellis believes "it's a great product."
"We're not pulling a 'Falcon 1 to Falcon 9' change," Ellis said, noting how Elon Musk's SpaceX originally was building and planning to operate a smaller rocket.
Taking on the dominant Falcon 9 A composite image showing a Falcon 9 rocket booster lifting off and a few minutes later landing back near the launchpad. SpaceX
Terran R represents an expansion of Relativity's offerings in the launch marketplace.