Branson’s Virgin Orbit rockets will soon launch into space from Brazil

Billionaire Richard Branson's Virgin Orbit is opening a branch in Brazil. The space company plans to launch its first rocket from the South American country in 2023, and the announcement sent the company's shares up 12.1%.

RIO DE JANEIRO, BRAZIL - Virgin Orbit, the space company owned by British billionaire Richard Branson, announced on Monday that it has opened a subsidiary in Brazil and received a license from the Brazilian Space Agency (AEB) to operate from the Alcântara (MA) base.

Once all formalities are completed, the company expects to be able to conduct the first launch from Brazil in 2023. The announcement sent shares of the company, which uses a rocket system launched mid-flight from a modified Boeing 747-400 cargo plane, up 12.1 percent at 1:13 p.m. EDT.

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