A European company that seeks to develop orbital spacecraft for cargo, and eventually humans, took a step forward this week with a test flight that saw its "Mission Possible" vehicle power up and fly successfully in orbit before making a controlled reentry into Earth's atmosphere.

However, after encountering an "issue," the Exploration Company lost contact with its spacecraft a few minutes before touchdown in the ocean.

In an update on LinkedIn Tuesday morning, the company characterized the test flight as a partial success—and a partial failure.

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