Terran Orbital Awarded $4.7 Million Contract by European Space Agency

Rhea-AI Summary

Terran Orbital's subsidiary, Tyvak International, has been chosen as a prime contractor by the European Space Agency for a $4.7 million contract to develop a nanosatellite for a proximity operations and in-orbit servicing mission. The nanosatellite will perform maneuvers around Space Rider, allowing for technology demonstration and research in various fields. Tyvak International will develop the nanosatellite in partnership with Italian industries and research institutions.

Positive

• Tyvak International selected as prime contractor for $4.7 million contract with the European Space Agency
• Nanosatellite will demonstrate unprecedented in-orbit servicing capabilities
• Partnership with Italian industries and research institutions

Negative

• None.

Terran Orbital’s wholly-owned international subsidiary will develop a satellite for a proximity operations and in-orbit servicing mission for the European Space Agency

BOCA RATON, Fla.--(BUSINESS WIRE)-- Terran Orbital Corporation (NYSE: LLAP) (“Terran Orbital” or the “Company”), a global leader in satellite-based solutions primarily serving the aerospace and defense industries, today announced its wholly-owned international subsidiary, Tyvak International s.r.l., has been chosen as a prime contractor under a $4.7 million or €4.5 million contract by the European Space Agency (ESA) for a proximity operations and in-orbit servicing mission that will deploy a nanosatellite spacecraft from Space Rider, the European uncrewed robotic laboratory.

Space Rider is an uncrewed robotic laboratory about the size of two minivans. At the end of its mission, Space Rider will return to Earth with its payloads to be unloaded and refurbished for another flight. Photo Credit: European Space Agency (ESA)

The deployed nanosatellite will perform proximity operations maneuvers around Space Rider, demonstrating unprecedented in-orbit servicing capabilities. Space Rider will allow technology demonstration, and benefit research in pharmaceutics, biomedicine, biology, and physical science. At the end of its mission, Space Rider will return to Earth with its payloads and land on a runway to be unloaded and refurbished for another flight. Tyvak International develops the nanosatellite to be onboarded and deployed at any time during the experimental Phase in orbit, on one of the ESA’s Space Rider flight missions, paving the way for future recurring servicing missions.

This contract is in partnership with a consortium of Italian industries and research institutions, including Polytechnic University of Turin, the University of Padova, and StellarProject SRL.

“Terran Orbital is honored to be selected once again for a prime contract with the European Space Agency,” said Marc Bell, Terran Orbital Co-Founder, Chairman, and Chief Executive Officer. “Using space technology for research in areas such as proximity operations and in-orbit servicing will be a huge benefit for our partners and the protection of precious and strategic orbital assets. I am excited to see Tyvak International s.r.l. in the forefront.”

About Terran Orbital

Terran Orbital is a leading manufacturer of satellite products primarily serving the aerospace and defense industries. Terran Orbital provides end-to-end satellite solutions by combining satellite design, production, launch planning, mission operations, and on-orbit support to meet the needs of the most demanding military, civil, and commercial customers. Learn more at www.terranorbital.com.

Disclaimer: Please note that the view expressed herein can in no way be taken to reflect the official opinion of the European Space Agency.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231025521213/en/

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Investor Relations Contact

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949-202-8476

Source: Terran Orbital

FAQ

What is the contract value for Tyvak International?

The contract value for Tyvak International is $4.7 million.

What will the nanosatellite do?

The nanosatellite will perform proximity operations maneuvers around Space Rider, demonstrating in-orbit servicing capabilities.

Who are Tyvak International's partners in this project?

Tyvak International is partnering with Italian industries and research institutions, including Polytechnic University of Turin, the University of Padova, and StellarProject SRL.