SpaceX Founder Elon Musk is hoping that 'the third time is a charm' in his attempt to launch America's first private industry rocket program.

The first attempt in November was scrubbed due to a tank fill valve that vented unexpected quantities of liquid oxygen. Without enough liquid oxygen in reserve, the launch was scrubbed and rescheduled for December 19th.

The second attempt in December started out with a stand-down due to high winds. When management decided to delay the launch for 24 hours, technicians started emptying the fuel tanks. Unfortunately, a short circuit in the tank vent valves resulted in a vacuum that distorted the fuel tank walls, and launch #2 was scrubbed.

In an emailed press release, Elon Musk of SpaceXwrote:

As previously reported, we traced the problem to failure of an electronic component in one of the first stage fuel tank pressurization valves. Although we have triple redundant pressure sensors and dual redundant pressurization valves, when this component shorted, it caused the valve controller board to reboot, effectively eliminating the redundancy.

This is the first time in 3.5 years of hard testing that we have ever seen this happen. Moreover, the component in question has a cycle life and power rating far in excess of the theoretical load that it should see. To address this specific problem, we are replacing the component with one that has a quasi-infinite lifespan and taking a few other steps that will isolate any issue with this component if it goes wrong in the future.

It is worth noting that we would have caught the problem without any damage to the vehicle if we had entered the final countdown sequence as planned. The sucked in tank damage only occurred because we partly drained the fuel tank due to the hold for high winds.

One thing I love about this start up company is their rapid response to adversity, and the efficiency that comes from having someone on the spot to write the check:

Following the problem on Dec. 19, we flew a whole new first stage to Hawaii via C-5 just in time to catch the barge from there to Kwaj a few days before New Year's Eve. The new stage should arrive at Kwaj in about a week, whereupon we will switch it out with the damaged unit, which will be sent back to California for repair. The repair is not particularly difficult or expensive, but can only be done properly in a factory setting.

...and they're damn good at time management:

However, as I mentioned in an earlier update, we are not simply going to address this particular point problem and then merrily jump back into a countdown sequence. Throughout January, the SpaceX team will be doing another full review of vehicle systems, including propulsion, structures, avionics, software and ground support systems. We will be conducting additional engine tests, stage separation tests and avionics tests to once again attempt to flush out any issues. Even if we find nothing, the exercise is worthwhile.

Plus, they have a sense of humor, and aren't afraid of being 'on the spot' innovative: