NASA Selects Virgin Orbit to Provide Future Launch Services Through VADR Contract
January 27 2022 - 10:44AM
Business Wire
Virgin Orbit announced today its selection by NASA’s Launch
Services Program to provide launch services for the agency’s
Venture-Class Acquisition of Dedicated Rideshare (VADR) missions.
The fixed-price indefinite-delivery/indefinite-quantity contract
will leverage commercial satellite launch practices, and together
with the flexibility afforded by Virgin Orbit’s LauncherOne system
enables more efficient launch timelines, mission-tailored orbits,
and competitive costs.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20220127005783/en/
(Photo: Business Wire)
“This contract award is a great step forward for commercial
space,” said Dan Hart, CEO of Virgin Orbit. “The VADR contract
vehicle now provides a platform for NASA to more easily contract
for flights on our LauncherOne service. That means it will be
easier than ever for us to work with NASA to provide targeted and
economic access to space, maximizing the science gains from their
small satellite missions and enabling ever greater technological
innovation.”
Virgin Orbit has already launched thirteen satellites to space
for NASA through programs like the Venture Class Launch Services
program and the CubeSat Launch Initiative. In a similar spirit the
VADR acquisition will build on that foundation. The contract has a
five-year ordering period with a maximum total value of $300
million and will be managed by the Launch Services Program at the
agency's Kennedy Space Center in Florida.
NASA’s selection of Virgin Orbit as a VADR launch provider comes
fresh off the company’s third successful launch in under twelve
months, wherein it brought its unblemished count of successfully
deployed satellites to 26. Having already proven out the
LauncherOne system, reached new orbital inclinations never before
possible from the West Coast, and even launched through inclement
weather, Virgin Orbit is now scaling up its flight rate to
accommodate the high demand seen from commercial customers, the
national security community, the international community and,
through programs like VADR, the US civil space community.
About Virgin Orbit
Virgin Orbit (Nasdaq: VORB) operates one of the most flexible
and responsive space launch systems ever built. Founded by Sir
Richard Branson in 2017, the company began commercial service in
2021, and has already delivered commercial, civil, national
security, and international satellites into orbit. Virgin Orbit’s
LauncherOne rockets are designed and manufactured in Long Beach,
California, and are air-launched from a modified 747- 400 carrier
aircraft that allows Virgin Orbit to operate from locations all
over the world in order to best serve each customer’s needs. Learn
more at www.virginorbit.com and visit us on LinkedIn, on Twitter
@virginorbit, and on Instagram @virgin.orbit.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains certain forward-looking statements
within the meaning of the federal securities laws. These
forward-looking statements generally are identified by the words
“believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,”
“strategy,” “future,” “opportunity,” “plan,” “may,” “should,”
“will,” “would,” “will be,” “will continue,” “will likely result,”
and similar expressions. Forward-looking statements are
predictions, projections and other statements about future events
that are based on current expectations and assumptions and, as a
result, are subject to risks and uncertainties. Many factors could
cause actual future events to differ materially from the
forward-looking statements in this press release. Forward-looking
statements speak only as of the date they are made. Readers are
cautioned not to put undue reliance on forward-looking statements,
and Virgin Orbit assumes no obligation and does not intend to
update or revise these forward-looking statements, whether as a
result of new information, future events, or otherwise. Virgin
Orbit gives no assurance that it will achieve its expectations.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220127005783/en/
Media Enquiries Alison Patch, Senior Director of
Communications +1 (949) 616-2504 Alison.Patch@Virginorbit.com
Press@virginorbit.com
Virgin Orbit (NASDAQ:VORB)
Historical Stock Chart
From Apr 2024 to May 2024
Virgin Orbit (NASDAQ:VORB)
Historical Stock Chart
From May 2023 to May 2024