Projected to be 90 minutes in length, the races will be between proposed Rocket Racer planes that use liquid oxygen
and either kerosene or ethanol fuel with a burn time of four minutes.
Each rocket plane is expected to cost less than US $1 million.
The airplanes are based on the Velocity airframe - derived from a commercially-available kit plane that traces its design heritage to the
which has been modified to accept rocket power and custom avionics.
The first prototype flew on October 26, 2007 at the Mojave Spaceport.