There's a new player in the bustling world of "commercial space," although the "space" part is a matter of definition.

A Tucson, Arizona-based start-up plans to use a helium balloon to lift big-ticket customers in a pressurized capsule to around 98,000 feet. That's a journey to the edge of space, if not into space as traditionally defined.

The passengers would ascend for 1½ hours before spending two hours admiring the world from on high. Then the capsule would be disconnected from the balloon and begin a free fall, but a parafoil above the capsule would become increasingly effective in the thickening air and the capsule would glide to the surface, landing on skids.