On Friday, Switzerland-based and Russian-owned ocean-faring rocket launcher Sea Launch AG confirmed that its latest launch attempt was a bust. Forty seconds after lifting off from the company's floating launch platform aboard a Ukrainian Zenit-3SL rocket, a Boeing -built Intelsat 27 spacecraft lost contact with its ground controllers, "indicating a loss of mission."

At this time, Sea Launch has no explanation for what went wrong but says it is forming an ad hoc Failure Review Oversight Board "to determine the root cause of the incident."

Since beginning operations in 1999, Sea Launch has made nearly three dozen launch attempts. Friday's incident was only the fourth such failure in 14 years of operation, but it was enough to push the company below a 90% success rate.

The article A No-Go for Sea Launch originally appeared on Fool.com.

Fool contributor Rich Smith and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.


Increase your money and finance knowledge from home

Introduction to Value Investing

Are you the next Warren Buffett?

View Course »

Small Cap Investing

Learn now to invest in small companies the right way.

View Course »

Add a Comment

*0 / 3000 Character Maximum