Excerpt:

Space startup SpinLaunch is in talks to lease an 82,000-square-foot warehouse and office building on the Alameda waterfront, according to sources familiar with the discussions.

The Airbus-backed company, which is based in Sunnyvale, was vying for the city-owned Building 530 at 120 W. Oriskany Way against water cooling company Nautilus Data Technologies, Inc., who is no longer in the running for the lease.

Founded in 2015, SpinLaunch aims to develop a cheaper and more environmental way of launching rockets into space, which it claims to do by spinning rockets at high speeds with electricity instead of traditional fuel. It plans to launch for the first time in 2022.

The potential lease comes after a Series A funding round in June that raked in $35 million from Airbus, Kleiner Perkins and GV, the venture capital branch of Alphabet Inc. SpinLaunch declined to comment on discussions.