STC was a relatively late entrant to the X-Prize line-up, having joined in December 2003. STC is based in Forks, Washington State, USA. The rocket in the picture is the "Rubicon 1", which was STC's  X-Prize vehicle. The vehicle is powered by a cluster of seven solid-fuelled rockets, which are activated in pairs. The vehicle is described as "almost fully reusable". The X-Prize rules do allow a certain percentage of non-reusability, which Rubicon meets. No programme for the full X-Prize attempt has been announced by STC, so far. STC have a funding shortfall of some $180,000, having raised $240,000.

On August 8th Rubicon 1 was test-fired with a dummy "pilot" on board. The intention was to climb to 20,000 feet and then operate the parachute for a splashdown a few miles off shore. Forks is some 8km inshore of Washington State's western coast. Unfortunately, one of the two SRBs malfunctioned on take-off, causing the total loss of Rubicon after climbing only a few hundred feet. The operators only just failed to deploy the parachute in time to save the vehicle.

Following an appeal for funding, shortly afterwards, Spacefleet was pleased to be able to help and has purchased stock in STC to the value of $27,000, sufficient for Rubicon 2 to be built. Further booster tests were planned, to check that modifications will have eliminated the fault (an over-pressurization) that led to the destruction of Rubicon 1. A new test ascent to 20,000 feet was to have been carried out, followed by an unmanned ascent to 100km with the full complement of boosters. STC would then have carried out an extensive series of 100km test flights with the aim of obtaining a FAA license to carry passengers.

However, after a long struggle to find funding for their project. STC have finally admitted defeat. The directors have found themselves regular jobs in the aerospace industry in the USA and the company has now been wound up.

Spacefleet Ltd now has some worthless STC share certificates, which it bought with around 2/3 of its available capital, but that's business, isn't it? It seemed like a good idea at the time.