Isar Aerospace, founded in 2018 by three students at a German university, successfully launched a privately developed rocket into low-Earth orbit Saturday from a Norwegian spaceport inside the Arctic Circle.

The two-stage rocket, named Spectrum, became the first fully commercial launch vehicle in Europe to reach orbit. With Saturday's success, Isar is the clear leader among a pack of several European launch startups vying to inject some competition into Europe's stagnant launch market.

Isar's 92-foot-tall (28-meter) Spectrum rocket lifted off at 4:12 pm EST (20:12 UTC) Saturday from Andøya Spaceport in northern Norway, where it was 10:12 pm local time and the final bluish hues of daylight faded from the late summer sky. Seven minutes later, the rocket was in orbit.

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