By Evan Ackerman

SpaceX’s Falcon 1 rocket successfully entered low Earth orbit yesterday, making it the first privately funded liquid fuel rocket to reach orbit with a payload. The Falcon 1 is a two stage rocket powered by liquid oxygen and liquid kerosene capable of lifting about 450 kg into low orbit at a cost of about $7 million. Since it’s not designed or owned or operated by the government, it’s supposed to be much more efficient in getting stuff up into space. I’d like to say it’s more reliable, too, but that remains to be seen… Although after today’s brilliant performance, I wouldn’t hesitate to send my humidifiers and USB hubs and lamps back where they belong.

[ SpaceX ]

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