Space tourism company Virgin Galactic Holdings said it has opened a testing site in Irvine.
The company (NYSE: SPCE) will use the facility to test its Delta spaceship before it’s even built, greatly cutting down on the need for extended flight testing.
The site is located in an industrial park near the Santa Ana (5) Freeway and the San Diego (405) Freeway, Virgin Galatic said.
Shares in Virgin Galactic jumped 10% to $1.05 apiece for a market cap of $428 million after the announcement.
Earlier this month, the company said it plans to launch its next commercial space flight, Galactic 07, as early as June 8.
The production timeline for Virgin Galactic’s Delta fleet remains on track for commercial service to launch in 2026, according to the company.
