The unmanned rocket named MOMO-3 took off Saturday from a test site in Taiki on the northern Japanese island of Hokkiado.

Japanese aerospace startup Interstellar Technology said its 10-meter (32-foot) craft reached an altitude of about 100 kilometers (60 miles) before splashing down into the Pacific Ocean.

The successful flight lasted about 10 minutes, and came after two failed launches by the same company in 2017 and 2018.

"We proved that our rocket developed with a lot of commercially available parts is capable of reaching space," Interstellar Technology CEO Takahiro Inagawa told a news conference in Hokkaido.

The company said the feat marked the first time a Japanese commercial rocket has been launched into space.

Read more: Japanese companies plan to build moon colonies

The MOMO-3 rocket is only 50 centimeters wide and 10 meters long

The MOMO-3 rocket weighs about 1.15 metric tons and is capable of carrying payloads of up to 20 kilograms (44 pounds) — although it cannot yet send them into orbit.

The Japanese firm is working to develop cheap commercial rockets that can carry small satellites into space. The production of such low-cost craft has become a growing trend in the space business, with US companies, including Elon Musk's SpaceX, leading the field.

Read more: Japan lands rovers on asteroid in historic mission

From colonies on Mars to Hyperloop — Elon Musk's multifarious projects A serial entrepreneur Tech visionary Musk intends to revolutionize transportation, both on earth and in space, and the way humans lead their lives. Over the past two decades, the South African-born American entrepreneur has emerged as one of Silicon Valley's most recognized faces worldwide. Musk was cofounder of Paypal, which was acquired by eBay for $1.4 billion (€1.2 billion) in 2002.

From colonies on Mars to Hyperloop — Elon Musk's multifarious projects Eying space In 2002, Musk founded SpaceX, an aerospace manufacturer and space transport services company currently valued at over $20 billion. He wants to make space travel cheaper and, eventually, enable human life on Mars, thus giving human kind a chance at becoming multi-planetary species.

From colonies on Mars to Hyperloop — Elon Musk's multifarious projects A mission to Mars SpaceX's Falcon and Dragon rocket programs both already deliver payloads into Earth's orbit. The company has said it wants to launch its Mars-bound cargo flight in 2022, followed by the first Mars flight with passengers in 2024.

From colonies on Mars to Hyperloop — Elon Musk's multifarious projects Transforming transportation After founding SpaceX, Musk set up Tesla in 2003 to come up with electric autonomous vehicles and renewable energy solutions. But production bottlenecks have plagued the company, with much of its future banked on the Model 3, its first mid-price, mass-market vehicle.

From colonies on Mars to Hyperloop — Elon Musk's multifarious projects Really big Teslas are coming After the foray into electric cars, Musk last year opened a new chapter in his book of visions as he unveiled the prototype of a futuristic all-electric heavy truck. The vehicle — dubbed the Tesla Semi — is set to go into production in 2019. It would boast 500 miles of range, a battery and motors that will last 1 million miles and cheaper total operating costs than diesel models, Musk claimed.

From colonies on Mars to Hyperloop — Elon Musk's multifarious projects Roofs made of solar tiles Besides running SpaceX and Tesla, Musk has also invested in the solar energy company SolarCity to turn his vision of a solar-powered future into a reality. Musk said houses equipped with Tesla's Solar Roof would feed energy to Powerwall, a sleek storage unit designed to act as an electricity fill-up station for both the house and a Tesla electric car.

From colonies on Mars to Hyperloop — Elon Musk's multifarious projects Dreaming an electric future In 2015, Musk unveiled Powerwall, a home battery unit with a selling price of $3,500 for 10kWh and $3,000 for 7kWh. The Powerwall can be controlled via one's phone, from anywhere. But slow production rates have proved to be a problem.

From colonies on Mars to Hyperloop — Elon Musk's multifarious projects Hyperloop Hyperloop came into global prominence after it was proposed by Musk in 2013. It is viewed as a next-generation transportation system — a "fifth mode" of transport (after planes, trains, cars and boats). It uses magnetically-levitated pods and sealed partial vacuum transit tubes to move people and freight at supersonic speeds estimated to reach over 700 miles per hour (1,127 kilometers per hour).

From colonies on Mars to Hyperloop — Elon Musk's multifarious projects Merging brain with AI In 2016, Musk co-founded Neuralink, a neurotechnology startup that is reportedly trying to create brain-computer interfaces by integrating the human brain with artificial intelligence (AI). The project is currently at an early stage of development. Author: Srinivas Mazumdaru



nm/rc (AP, dpa)

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