Intuitive Machines Strengthens Lunar Service Capabilities with $116.9 million NASA Lunar Contract Award

Rhea-AI Summary

Intuitive Machines (Nasdaq: LUNR) has been awarded a $116.9 million NASA contract to deliver six science and technology payloads to the Moon's South Pole. This marks the company's fourth CLPS contract for lunar payload delivery and data collection. The mission will include payloads such as:

- LEIA: studying yeast response to lunar conditions
- PROSPECT: a European Space Agency-led drill suite
- LRA: a laser retroreflector array for precise distance measurements
- SEAL: investigating chemical responses of lunar regolith
- MAG: characterizing magnetic fields
- L-CIRiS: exploring surface composition and temperature distribution

Intuitive Machines is currently finalizing its second lunar mission, scheduled for late 2024, while preparing for its third mission.

Positive

• Secured a $116.9 million NASA contract for lunar payload delivery
• Fourth CLPS contract award, demonstrating consistent NASA partnership
• Diversifying payload capabilities with six different scientific instruments
• Progressing on schedule with second and third lunar missions

Negative

• None.

Financial Analyst

This $116.9 million NASA contract is a significant win for Intuitive Machines, bolstering its position in the commercial lunar services sector. The contract's value represents a substantial revenue boost, potentially impacting the company's financial outlook positively. As their fourth CLPS contract, it demonstrates NASA's continued confidence in Intuitive Machines' capabilities, which could attract more investors and partners.

The diverse payload mix, including international collaboration with ESA, suggests a broadening scope of operations that could lead to additional revenue streams and technological advancements. Investors should note the company's progress in lunar delivery, data transmission and autonomous operations, as these capabilities are important for future space exploration and commercialization efforts.

Space Technology Expert

Intuitive Machines' contract to deliver six payloads to the Moon's South Pole is technologically significant. The PROSPECT drill suite is particularly noteworthy, as it could provide important data on lunar volatiles, essential for future resource utilization. The LEIA experiment studying yeast in lunar conditions could have implications for long-term human presence on the Moon.

The inclusion of the Laser Retroreflector Array (LRA) is a strategic move, providing a long-lasting reference point for future lunar missions. This, combined with the SEAL, MAG and L-CIRiS instruments, positions Intuitive Machines at the forefront of lunar science and exploration technology. The company's ability to integrate and deliver these diverse payloads demonstrates its growing technological prowess in the space sector.

Market Research Analyst

This contract strengthens Intuitive Machines' market position in the rapidly growing commercial lunar services industry. As the first commercial company to successfully land on the Moon in 2024, Intuitive Machines has a significant first-mover advantage. The new contract further cements their leadership, potentially attracting more commercial clients beyond NASA.

The company's focus on the three service pillars - delivery, data & analysis and autonomous operations - aligns well with the emerging cislunar economy. This diversified approach could provide multiple revenue streams and mitigate risks associated with a single-focus business model. Investors should watch for how Intuitive Machines leverages this contract to expand its commercial payload services, as indicated by the mention of available mass for non-CLPS payloads.

HOUSTON, Aug. 29, 2024 (GLOBE NEWSWIRE) -- NASA has awarded Intuitive Machines, Inc. (Nasdaq: LUNR, LUNRW) (“Intuitive Machines”) (“Company”), a leading space exploration, infrastructure, and services company, a $116.9 million contract to deliver six science and technology payloads, including one European Space Agency-led drill suite to the Moon’s South Pole. This award will leverage Intuitive Machines’ lunar delivery, data transmission, and autonomous operation capabilities to explore the region targeted for sustained human operations.

“Over the last several years, we’ve witnessed NASA’s successful Artemis I mission and the campaign’s progress toward sustainably returning humans to the surface of the Moon, highlighting the importance of autonomous missions that advance humanity’s understanding of the Moon and the commercial services required to support the industry,” said Intuitive Machines CEO Steve Altemus. “Intuitive Machines looks forward to working closely with the NASA team to deliver mission success once again.”

As part of NASA’s Commercial Lunar Payload Services (CLPS) initiative, this marks Intuitive Machines’ fourth contract award to deliver science and technology payloads and return valuable data while autonomously operating on the surface of the Moon. Commercial payload mass is expected to be available in addition to CLPS payloads, including:

• Lunar Explorer Instrument for Space Biology Applications (LEIA) will deliver yeast to the lunar surface and study its response to radiation and lunar gravity. LEIA is managed by NASA’s Ames Research Center.
• Package for Resource Observation and In-Situ Prospecting for Exploration, Characterization, and Testing (PROSPECT) is a suite of instruments that will extract samples from beneath the lunar surface to identify possible volatiles (water, ice, or gas) trapped at extremely cold temperatures. PROSPECT is led by the European Space Agency.
• Laser Retroreflector Array (LRA) is a collection of eight retroreflectors that enable precision lasers to measure the distance between the orbiting or landing spacecraft to the reflector on the lander. The array is a passive optical instrument and will function as a permanent location marker on the Moon for decades to come. LRA is managed by NASA’s Goddard Space Flight Center.
• Surface Exosphere Alterations by Landers (SEAL) will investigate the chemical response of lunar regolith to the thermal, physical, and chemical disturbances generated during a landing and evaluate contaminants injected into the regolith by the lander. It will give insight into how a spacecraft landing might affect the composition of samples collected nearby. SEAL is managed by NASA’s Goddard Space Flight Center.
• Fluxgate Magnetometer (MAG) will characterize certain magnetic fields to improve the understanding of energy and particle pathways at the lunar surface and is managed by NASA’s Goddard Space Flight Center.
• Lunar Compact Infrared Imaging System (L-CIRiS) will deploy a radiometer – a device that measures infrared wavelengths of light – to explore the Moon’s surface composition, map its surface temperature distribution, and demonstrate the instrument’s feasibility for future lunar resource utilization activities. L-CIRiS is managed by the Laboratory for Atmospheric and Space Physics at the University of Colorado at Boulder.

Intuitive Machines is in the final assembly phase of its second lunar mission and is scheduled to deliver the completed lander to the launch facility in late 2024. In parallel, the Company is continuing work on its third lunar mission and is preparing for systems integration and testing.

About Intuitive Machines

Intuitive Machines is a diversified space exploration, infrastructure, and services company focused on beginning a new economy in cislunar space. In 2024, Intuitive Machines became the first commercial company to land and operate on the lunar surface, which validated the Company’s ability to provide the three service pillars required to commercialize a celestial body: delivery, data & analysis, and autonomous operations in space. The Company empowers its customers to achieve their ambitious visions and commercial goals in space through seamless collaboration with its robust service pillars.

Contacts

For investor inquiries:

investors@intuitivemachines.com

For media inquiries:

press@intuitivemachines.com

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 our lunar missions, including the expected timing of launch and our progress in preparation thereof; our expectations with respect to, among other things, demand for our product portfolio, our submission of bids for contracts; our expectations regarding revenue for government contracts awarded to us; our operations, our financial performance and our industry; our business strategy, business plan, and plans to drive long-term sustainable shareholder value; information regarding our expectations on revenue generation and cash. 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 press release: our factors detailed under the section titled Part I, Item 1A. Risk Factors of our Annual Report on Form 10-K for the fiscal year ended December 31, 2023 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 and the section titled Part II. Item 1A. “Risk Factors” in our most recently filed Quarterly Report on Form 10-Q, and in our subsequent filings with the SEC, which are accessible on the SEC's website at www.sec.gov.

This press release was published by a CLEAR® Verified individual.

FAQ

What is the value of Intuitive Machines' new NASA contract for lunar payload delivery?

Intuitive Machines (LUNR) has been awarded a $116.9 million contract by NASA to deliver six science and technology payloads to the Moon's South Pole.

How many CLPS contracts has Intuitive Machines (LUNR) received from NASA?

This latest award marks Intuitive Machines' fourth contract under NASA's Commercial Lunar Payload Services (CLPS) initiative.

What are some of the payloads Intuitive Machines (LUNR) will deliver to the Moon in this mission?

The payloads include LEIA (studying yeast in lunar conditions), PROSPECT (a drill suite), LRA (laser retroreflector array), SEAL (investigating lunar regolith), MAG (magnetic field characterization), and L-CIRiS (surface composition and temperature mapping).

When is Intuitive Machines (LUNR) scheduled to deliver its second lunar mission lander?

Intuitive Machines is scheduled to deliver the completed lander for its second lunar mission to the launch facility in late 2024.