Intuitive Machines Bolsters Orbital Services Business Line With $719 Million NASA Award

Rhea-AI Summary

Intuitive Machines announced that NASA awarded a contract to Space & Technology Solutions, a joint venture led by the company in collaboration with KBR. This contract, valued at up to $719 million, spans five years and is aimed at supporting the Joint Polar Satellite System and NASA’s Exploration and In-space Services.

CEO Steve Altemus emphasized the contract's strategic significance, allowing Intuitive Machines to aid NASA in critical technology development for the orbital servicing market. The contract will support the NASA GSFC Engineering and Technology Directorate in its mission operations, satellite development, and data distribution.

Positive

• NASA awarded Intuitive Machines a contract worth up to $719 million.
• Contract supports critical technology development for NASA's orbital servicing market.
• CEO highlighted the contract's strategic importance for the company's future.

Negative

• None.

HOUSTON, April 18, 2023 (GLOBE NEWSWIRE) -- Intuitive Machines, Inc. (Nasdaq: LUNR, LUNRW) (“Intuitive Machines” or the “Company”), today announced The National Aeronautics and Space Administration (“NASA”) awarded Space & Technology Solutions, the DBA for Space Networks Solutions LLC, a joint venture led by Intuitive Machines with KBR (NYSE: KBR), a cost-plus-fixed-fee indefinite-delivery, indefinite-quantity contract meant to support work related to the Joint Polar Satellite System, NASA’s Exploration and In-space Services. The single-award contract has a five-year base performance period and a maximum ordering value of $719 million.

“Humanity’s advancement into the solar system is built upon more than a decade of innovation under NASA’s OMES contract, and Intuitive Machines intends to continue that legacy,” said Steve Altemus, Chief Executive Officer of Intuitive Machines. “This win is of strategic importance, allowing Intuitive Machines to support NASA in designing, developing, and demonstrating critical technology required to support the emerging orbital servicing market, and a validation of the Company’s experience in spacecraft development, autonomous systems, and near-space communications. We look forward to collaborating with NASA to push the boundaries of what’s possible in space.”

The NASA OMES III contract’s principal purpose is to support the NASA GSFC Engineering and Technology Directorate (ETD). ETD is an end-to-end science mission operation that is instrumental in designing missions, building satellites and instruments, operating, and controlling spacecraft, and acquiring and distributing data to the worldwide science community.

About Intuitive Machines

Intuitive Machines is a diversified space company focused on space exploration. Intuitive Machines supplies space products and services to support sustained robotic and human exploration to the Moon, Mars, and beyond. Intuitive Machines’ products and services are offered through its four business units: Lunar Access Services, Orbital Services, Lunar Data Services, and Space Products and Infrastructure. For more information, please visit intuitivemachines.com.

Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release include but are not limited to: statements regarding our first mission to the Moon, including the expected timing thereof. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this press release, words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “strive,” “would,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. 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, including, but not limited to: our ability to adequately market our products and services, and to develop additional products and product offerings; our ability to manage our growth effectively, including through acquisitions; failure to maintain and protect our reputation; our ability to attract, develop, and retain capable management, editors, and other key personnel; our ability to grow market share in our existing markets or any new markets we may enter; our ability to respond to and adapt to changes in technology and consumer behavior; failure to successfully identify and integrate acquisitions, or dispose of assets and businesses; our ability to raise financing in the future and to comply with restrictive covenants related to long-term indebtedness; our ability to maintain and protect our intellectual property; and adverse global economic conditions; and the risk factors, forward-looking statements and challenges and uncertainties described in our 2022 10-K , and other public filings and press releases, which are accessible on the SEC's website at www.sec.gov and the Investors section of our website at www.investors.intuitivemachines.com.

These forward-looking statements are based on information available as of the date of this press release and current expectations, forecasts, and assumptions, and involve a number of judgments, risks, and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities laws.

Contacts

For investor inquiries:

investors@intuitivemachines.com

For media inquiries:

press@intuitivemachines.com

FAQ

What is the contract value awarded to Intuitive Machines by NASA?

The contract awarded to Intuitive Machines by NASA has a maximum value of $719 million.

How long is the contract period for Intuitive Machines with NASA?

The contract period for Intuitive Machines with NASA is five years.

What is the purpose of the NASA OMES III contract awarded to Intuitive Machines?

The purpose of the NASA OMES III contract is to support the design, development, and operation of missions and satellites.

What other company is involved in the joint venture with Intuitive Machines for the NASA contract?

KBR is the other company involved in the joint venture with Intuitive Machines for the NASA contract.

What does Intuitive Machines focus on as a space company?

Intuitive Machines focuses on space exploration, supplying space products and services for robotic and human exploration.