Friday, September 18, 2009

Rocket Racing League Closes Multi-Million Dollar Financing

The Rocket Racing League® today announced the closing of a $5.5 million dollar financing round, 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, led 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.”

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