Abstract: Rocket propulsion or rapid response gas generation systems and methods are disclosed in which a novel one component, single tank storable, low toxicity, low detonation sensitivity liquid monopropellant containing a mixture of aqueous 70% hydrogen peroxide, alcohol, and water is catalytically decomposed with an iridium based catalyst. The resulting rapidly formed gaseous decomposition products consisting substantially of carbon dioxide and water vapor are used for rocket propulsion, satellite propulsion, divert attitude control systems for interceptor missiles, and other power control systems where a re-start capability is desired.