In their own words: "Armadillo Aerospace is a small research and development team working on computer-controlled hydrogen peroxide rocket vehicles, with an eye towards X-Prize class vehicle development in the coming years.  The team currently consists of a bunch of guys, a girl, and an armadillo named Widget.  Our fearless leader, John Carmack, will lead us to space and, well, outer space". The Armadillo vehicle has a single stage and uses a "monopropellant" fuel, which is 90% hydrogen peroxide (remainder is water). The hydrogen peroxide breaks down to superheated steam and oxygen in the presence of a catalyst.

You wouldn't think that such a system could give much thrust, but, apparently, it does, and Armadillo Aerospace are not the only team to be using this fuel. They are currently carrying out thrust tests on the rocket motors. Drop tests of the parachute system have been carried out, and they are waiting to be granted a licence to carry out their first actual flight tests. In recent months the Armadillo team has carried out a number of hovering tests, originally tethered, later without tether. Only modest heights above the ground have been attempted so far. 

Tests of a novel, three-stage rocket motor, using hydrogen peroxide, catalytically decomposed to oxygen and water, but with the addition of methanol are also planned.

Like Scaled composites, this project has full funding from an interested millionaire.

Click the logo  to go to Armadillo Aerospace's website.