The contracts represent the highest value orders for Rocket
Lab’s separation systems to date
Rocket Lab USA, Inc. (Nasdaq: RKLB) (“Rocket Lab” or “the
Company”), a leading launch and space systems company, has been
awarded two contracts worth a total of $14 million to provide
satellite separation systems for companies building Space
Development Agency’s (SDA) Tranche 1 Transport Layer (T1TL)
satellites. Rocket Lab will supply more than 80 total Lightband
Separation Systems (Lightbands) to prime contractor Lockheed Martin
and another undisclosed customer, both of whom are manufacturing
satellites for the SDA’s Tranche 1 Transport Layer.
Lightbands are separation systems that are used to attach
satellites to rockets and release them in space once the rocket
reaches its intended orbit. Rocket Lab’s separation systems were
designed by Planetary Systems Corp, which was acquired by the
Company in 2021, and have a 100% mission success rate across more
than 140 missions. Compared to typical clamp band separation
systems, Rocket Lab’s Lightbands are lighter weight, have a lower
profile, shock and tip-off rate, and have attained the highest
Technology Readiness Level by the US Government.
Part of the National Defense Space Architecture (NDSA), SDA’s
Transport Layer will provide assured, resilient, low-latency
military data and connectivity worldwide to the full range of
warfighter platforms. T1TL consists of a mesh network of 126
optically-interconnected space vehicles and will form the initial
warfighting capability tranche of the NDSA.
“The Tranche 1 Transport Layer will provide crucial capabilities
for the National Defense Space Architecture and we’re proud to be
delivering the separation systems that will deploy these spacecraft
precisely and accurately,” said Brad Clevenger, Vice President of
Space Systems. “Being selected by not one but two companies
building spacecraft for the SDA’s Transport Layer is a real vote of
confidence in our Lightbands which have delivered 100% mission
success for more than 100 separations on orbit.”
Previously, Rocket Lab’s Lightbands has been used on NASA
International Space Station and Space Shuttle missions, on all
major U.S. and international rockets.
The Lightbands are a part of Rocket Lab’s vertically-integrated
Space Systems offering that also includes the in-house manufactured
and operated spacecraft, satellite dispensers, and satellite
components such as reaction wheels and star trackers, solar panels,
and flight software.
+ ABOUT Rocket Lab
Founded in 2006, Rocket Lab is an end-to-end space company with
an established track record of mission success. We deliver reliable
launch services, spacecraft components, satellites and other
spacecraft and on-orbit management solutions that make it faster,
easier and more affordable to access space. Headquartered in Long
Beach, California, Rocket Lab designs and manufactures the Electron
small orbital launch vehicle and the Photon satellite platform and
is developing the large Neutron class launch vehicle. Since its
first orbital launch in January 2018, Rocket Lab’s Electron launch
vehicle has become the second most frequently launched U.S. rocket
annually and has delivered 152 satellites to orbit for private and
public sector organizations, enabling operations in national
security, scientific research, space debris mitigation, Earth
observation, climate monitoring, and communications. Rocket Lab’s
Photon spacecraft platform has been selected to support NASA
missions to the Moon and Mars, as well as the first private
commercial mission to Venus. Rocket Lab has three launch pads at
two launch sites, including two launch pads at a private orbital
launch site located in New Zealand, and a second launch site in
Virginia, USA which is expected to become operational in 2022. To
learn more, visit www.rocketlabusa.com.
+ FORWARD-LOOKING STATEMENTS
This press release may contain certain “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995, Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. All statements, other than statements of historical facts,
contained in this release, including statements regarding our
expectations of financial results for the third quarter of 2022,
strategy, future operations, future financial position, projected
costs, prospects, plans and objectives of management, are
forward-looking statements. Words such as, but not limited to,
“anticipate,” “aim,” “believe,” “contemplate,” “continue,” “could,”
“design,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,”
“possible,” “potential,” “predict,” “project,” “seek,” “should,”
“suggest,” “strategy,” “target,” “will,” “would,” and similar
expressions or phrases, or the negative of those expressions or
phrases, are intended to identify forward-looking statements,
although not all forward-looking statements contain these
identifying words. These forward-looking statements are based on
Rocket Lab’s current expectations and beliefs concerning future
developments and their potential effects. These forward-looking
statements involve a number of risks, uncertainties (many of which
are beyond Rocket Lab’s control), or other assumptions that may
cause actual results or performance to be materially different from
those expressed or implied by these forward-looking statements.
Many factors could cause actual future events to differ materially
from the forward-looking statements in this release, including
risks related to the global COVID-19 pandemic; risks related to
government restrictions and lock-downs in New Zealand and other
countries in which we operate that could delay or suspend our
operations; delays and disruptions in expansion efforts; our
dependence on a limited number of customers; the harsh and
unpredictable environment of space in which our products operate
which could adversely affect our launch vehicle and spacecraft;
increased congestion from the proliferation of low Earth orbit
constellations which could materially increase the risk of
potential collision with space debris or another spacecraft and
limit or impair our launch flexibility and/or access to our own
orbital slots; increased competition in our industry due in part to
rapid technological development and decreasing costs; technological
change in our industry which we may not be able to keep up with or
which may render our services uncompetitive; average selling price
trends; failure of our launch vehicles, spacecraft and components
to operate as intended either due to our error in design in
production or through no fault of our own; launch schedule
disruptions; supply chain disruptions, product delays or failures;
design and engineering flaws; launch failures; natural disasters
and epidemics or pandemics; changes in governmental regulations
including with respect to trade and export restrictions, or in the
status of our regulatory approvals or applications; or other events
that force us to cancel or reschedule launches, including customer
contractual rescheduling and termination rights; risks that
acquisitions may not be completed on the anticipated time frame or
at all or do not achieve the anticipated benefits and results; and
the other risks detailed from time to time in Rocket Lab’s filings
with the Securities and Exchange Commission (the “SEC”), including
under the heading “Risk Factors” in Rocket Lab’s Annual Report on
Form 10-K for the fiscal year ended December 31, 2021, which was
filed with the SEC on March 24, 2022, and elsewhere (including that
the impact of the COVID-19 pandemic may also exacerbate the risks
discussed therein). There can be no assurance that the future
developments affecting Rocket Lab will be those that we have
anticipated. Except as required by law, Rocket Lab is not
undertaking any obligation to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20221109005986/en/
+ Rocket Lab Media Contact Morgan Bailey media@rocketlabusa.com
+1 714-613-2072
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