Rocket Lab vehicle fails to reach orbit, loses payload of satellites

A rocket from small-satellite launch firm Rocket Lab failed to reach orbit minutes after a successful liftoff from New Zealand on Saturday, the company said, losing its payload of seven small satellites it had intended to carry to space. "An issue was experienced today during Rocket Lab's launch that caused the loss of the vehicle," the company said on Twitter, adding more information will be shared as available.

A rocket from small-satellite launch firm Rocket Lab failed to reach orbit minutes after a successful liftoff from New Zealand on Saturday, the company said, losing its payload of seven small satellites it had intended to carry to space.

"An issue was experienced today during Rocket Lab's launch that caused the loss of the vehicle," the company said on Twitter, adding more information will be shared as available. "We are deeply sorry to the customers on board Electron," the Auckland, New Zealand-based company said. "The issue occurred late in the flight during the 2nd stage burn."

Rocket Lab is one of a growing group of launch companies looking to slash the cost of sending shoebox-sized satellites to low Earth orbit, building smaller rockets and reinventing traditional production lines to meet a growing payload demand.