Rocket Lab Establishes Australian Subsidiary to Support Rapidly Growing National Space Sector
February 28 2023 - 04:21PM
Business Wire
Rocket Lab USA, Inc. (Nasdaq: RKLB) (“Rocket Lab” or “the
Company”), a global leader in launch services and space systems,
today announced it has established a new wholly-owned subsidiary,
Rocket Lab Australia, to explore opportunities to support the
expansion of Australia’s national space capabilities.
The Australian Government has set a goal to triple the size of
the Australian space sector from an estimated AUD$4 billion in 2016
to AUD$12 billion and create an additional 20,000 jobs by 2030. To
help facilitate this growth, the Australian Government has
committed more than AUD$2 billion to the civil space sector since
2018 for programs spanning Earth Observation, satellite
infrastructure, high-tech manufacturing, and support for NASA’s
Moon to Mars Artemis Program. The Australian Government has also
committed AUD$17 billion above and beyond this civil space
investment for the development of Defence space capabilities as
part of the 2020 Force Structure Plan to maintain and upgrade
existing space capabilities, as well develop new capabilities to
solve problems domestically and service global partners. The Five
Eyes intelligence alliance between Australia, Canada, New Zealand,
the United States, and the United Kingdom is one such example of
Australia’s global partnerships. With the establishment of Rocket
Lab Australia, the Company now expands its support of the alliance
with operations in all but one of the participating countries.
“Australia has an accomplished history in the space sector
having developed strong capabilities in Earth observation, space
tracking and satellite operations. Coupled with Australia’s renewed
focus on industrial capability and advanced manufacturing, the
industry is now poised for an era of rapid expansion driven by new
technology, a growing demand for space enabled data, private
investment, and a significantly increased funding commitment from
the Australian Government,” said Rocket Lab founder and CEO Peter
Beck. "Rocket Lab has already played a key role in supporting
Australia’s rapid growth in space by flying several commercially
developed Australian satellites on Electron, as well as having
launched national security payloads developed in partnership with
Australia’s Department of Defence. Our space systems technology has
also featured on Australian missions, enabling Australian
technology already relied upon by the nation. By building on our
deep expertise and proven heritage as a global leader in launch and
space systems, Rocket Lab is well positioned to advance Australia’s
capabilities in space. We have people on the ground already and we
look forward to exploring opportunities where they make strategic
sense for us as a business, and where we can truly strengthen
Australia’s position in the global space sector.”
+ IMAGES & VIDEO CONTENT
www.flickr.com/photos/rocketlab/
+ 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, satellite manufacture, spacecraft components, 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, the Photon satellite platform and the
Company is developing the large Neutron launch vehicle for
constellation deployment. 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 155
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 third
launch pad in Virginia. 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 fourth 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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+ ROCKET LAB MEDIA CONTACT Murielle Baker media@rocketlabusa.com
+64 27 538 9040
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