Intuitive Machines IM-2 Engine Qualification Advances Cargo Class Lander Development
Intuitive Machines (Nasdaq: LUNR) has achieved a significant milestone in its lunar exploration program by qualifying the VR900 engine for its IM-2 lunar mission. This advancement also propels the development of the Company's larger VR3500 engine for cargo-class landers. Key highlights include:
- Successful full-duration hot-fire test of the IM-2 VR900 engine
- Application of design modifications to the larger engine system
- Utilization of environmentally friendly LOx/LCH4 propellant
- Validation of the propulsion system through deep space ignition on IM-1 mission
- Ongoing $30 million Lunar Terrain Vehicle Services Feasibility Assessment
- Potential for $1+ billion contract down select in mid-2025
- Previous successful test-firing of VR3500 cargo class lander engine
- Successful qualification of VR900 engine for IM-2 lunar mission
- Advancement in development of larger VR3500 engine for cargo-class landers
- Validated engine design meets current mission demand and future lunar requirements
- $30 million Lunar Terrain Vehicle Services Feasibility Assessment contract in progress
- Potential for $1+ billion contract down select in mid-2025
- Previous record-breaking test-firing of VR3500 cargo class lander engine
- None.
The qualification of the VR900 engine for the IM-2 lunar mission showcases Intuitive Machines’ engineering prowess and commitment to advancing space exploration technology. The successful full-duration hot-fire test confirms the engine's enhanced performance due to efficient design modifications. The use of environmentally friendly propellants (liquid oxygen and methane) highlights a push towards sustainable space exploration.
From a technical standpoint, the scalability of this engine and its application to larger engines like the VR3500 signifies that Intuitive Machines is capable of supporting a broad range of missions, from small scientific payloads to larger cargo deliveries. Scalability is a significant factor in space missions as it helps in cost management and mission adaptability, making this development impactful for future lunar endeavors. Investors should be aware that the successful application of these design improvements can lead to higher success rates in missions, potentially increasing the company's contract opportunities.
Technical advancements such as these often translate to competitive advantages in the aerospace industry, positioning Intuitive Machines favorably for upcoming contracts, particularly the $1 billion contract expected in mid-2025.
Intuitive Machines' recent advancements in the development of their scalable VR900 engine have strong implications for their market positioning. The successful full-duration hot-fire test not only demonstrates improved engine performance but also underlines the company's capability to innovate and deliver on its technological promises. This positions the company well as a competitive player in the lucrative space exploration market.
The $30 million Lunar Terrain Vehicle Services Feasibility Assessment and the anticipated $1 billion contract opportunity suggest significant revenue potential. These contracts indicate a growing demand for Intuitive Machines' technology and services, which could lead to substantial growth in their market share. Investors should note that securing these contracts will boost the company's credibility and financial stability, encouraging further investment and partnership opportunities.
The use of environmentally friendly propellants is also a notable trend in current aerospace initiatives. With increasing emphasis on sustainability, Intuitive Machines is aligning with industry trends that could attract environmentally conscious investors and stakeholders.
HOUSTON, July 16, 2024 (GLOBE NEWSWIRE) -- Intuitive Machines, Inc. (Nasdaq: LUNR, LUNRW) (“Intuitive Machines”) (“Company”), a leading space exploration, infrastructure, and services company, has qualified the VR900 engine for its IM-2 lunar mission, which also advances the development of the Company’s VR3500 engine for larger cargo class landers.
Designed, 3D-printed, and tested in-house, the IM-2 VR900 engine completed a full-duration hot-fire test that confirmed increased engine performance utilizing efficient design modifications. Intuitive Machines engineers are applying the design modifications and quality processes to its larger engine system while completing the IM-2 mission lander’s final assembly.
The scalable VR900 engine uses an environmentally friendly mix of liquid oxygen and methane (“LOx/LCH4”) to support science and discovery payload deliveries to the Moon. Intuitive Machines first validated the proprietary propulsion system through the first-ever deep space ignition, followed by multiple restarts, repeatedly providing successful spacecraft maneuvers on the IM-1 mission in February 2024.
“From the outset, our goal was to pioneer the industry’s first deep space scalable LOx/LCH4 engine to meet the immediate demand for science and discover-class lunar missions,” said Intuitive Machines CEO Steve Altemus. “This validated engine design meets current mission demand and paves the way for our VR3500 engine for cargo delivery such as lunar terrain vehicles, human spaceflight cargo resupply, and other infrastructure delivery. We believe we’re in a prime position to build on our successful development and apply that technology toward current contracts and future lunar requirements for infrastructure delivery.”
Intuitive Machines is completing a
In 2020, Intuitive Machines successfully test-fired its VR3500 cargo class lander engine, breaking the continuous test duration record of NASA’s Marshall Space Flight Center’s Test Stand 115. Intuitive Machines previously held the record with a 360-second test firing of the same engine. The VR3500 development and testing were performed on contract for a human landing system architecture studies and technology prototypes contract.
About Intuitive Machines
Intuitive Machines is a diversified space exploration, infrastructure, and services company focused on fundamentally disrupting lunar access economics. In 2024, Intuitive Machines successfully landed the Company’s Nova-C class lunar lander, Odysseus, on the Moon, returning the United States to the lunar surface for the first time since 1972. The Company’s products and services are offered through its four in-space business units: Lunar Access Services, Orbital Services, Lunar Data Services, and Space Products and Infrastructure. For more information, please visit intuitivemachines.com.
Contacts
For investor inquiries:
investors@intuitivemachines.com
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Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These statements that do not relate to matters of historical fact should be considered forward-looking. These forward-looking statements generally are identified by the words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “strive,” “would,” “strategy,” “outlook,” the negative of these words or other similar expressions, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include but are not limited to statements regarding: our expectations and plans relating to the Lunar Terrain Vehicle. These forward-looking statements reflect the Company’s predictions, projections, or expectations based upon currently available information and data. Our actual results, performance or achievements may differ materially from those expressed or implied by the forward-looking statements, and you are cautioned not to place undue reliance on these forward looking statements. The following important factors and uncertainties, among others, could cause actual outcomes or results to differ materially from those indicated by the forward-looking statements in this presentation: our reliance upon the efforts of our Board and key personnel to be successful; our limited operating history; our competition from existing or new companies; unsatisfactory safety performance of our spaceflight systems or security incidents at our facilities; any delayed launches, launch failures, significant increases in the costs related to launches of satellites and lunar landers, and insufficient capacity available from satellite and lunar lander launch providers; risks associated with commercial spaceflight, including any accident on launch or during the journey into space; risks associated with the handling, production and disposition of potentially explosive and ignitable energetic materials and other dangerous chemicals in our operations; our reliance on a limited number of suppliers for certain materials and supplied components; failure of our products to operate in the expected manner or defects in our products; counterparty risks on contracts entered into with our customers; failure to comply with various laws and regulations relating to various aspects of our business and any changes in the funding levels of various governmental entities with which we do business; our failure to protect the confidentiality of our trade secrets and know how; our failure to comply with the terms of third-party open source software our systems utilize; our ability to maintain an effective system of internal control over financial reporting, and to address and remediate material weaknesses in our internal control over financial reporting; the U.S. government’s budget deficit and the national debt, as well as any inability of the U.S. government to complete its budget process for any government fiscal year, and our dependence on U.S. government contracts and funding by the government for the government contracts; our failure to comply with U.S. export and import control laws and regulations and U.S. economic sanctions and trade control laws and regulations; uncertain global macro-economic and political conditions and rising inflation; our history of losses and failure to achieve profitability and our need for substantial additional capital to fund our operations; the fact that our financial results may fluctuate significantly from quarter to quarter; the risk that our business and operations could be significantly affected if it becomes subject to any securities litigation or stockholder activism; our public securities’ potential liquidity and trading; and other public filings and press releases other factors detailed under the section titled Part I, Item 1A. Risk Factors of our Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”), the section titled Part I, Item 2, Management’s Discussion and Analysis of Financial Condition and Results of Operations, which are accessible on the SEC's website at www.sec.gov and the Investors section of our website at http://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.
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FAQ
What engine did Intuitive Machines (LUNR) qualify for its IM-2 lunar mission?
What type of propellant does the VR900 engine use?
When did Intuitive Machines (LUNR) complete the first-ever deep space ignition of its propulsion system?
What is the value of the Lunar Terrain Vehicle Services Feasibility Assessment contract that Intuitive Machines (LUNR) is working on?
When is the expected down select for the $1+ billion contract mentioned in the Intuitive Machines (LUNR) press release?
