MOSCOW, June 7. /TASS/. S7 Space suspended the project to create a light carrier rocket, S7 Group told TASS on Tuesday.

"Due to a lack of opportunity to raise funding, the project to create a light-class carrier rocket has been suspended," the press service said.

The company said that was the reason why it let go some of its staff - 30 people out of more than 100 - in June. "Still, S7 Space continues to operate in some areas, such as additive and welding technologies where work is underway," it said.

In September 2020, the S7 research and development center said that in 2019 it had begun the creation of a light-class carrier rocket with a reusable stage. It said the company could later use the research to build a larger, medium-class carrier rocket for launching from the Sea Launch Cosmodrome.

In January, Arseny Kisarev, director of the company's technological development department, told TASS that there were plans to test the tanks of the rocket in a third-party laboratory in 2022.