Momentus Announces Second Services Agreement with CUAVA

Rhea-AI Summary

Momentus Inc. (NASDAQ: MNTS) has entered an agreement with the Australian Research Council Training Centre for CubeSats, Uncrewed Aerial Vehicles, and their Applications (CUAVA) to transport the Waratah Seed WS-1 CubeSat to low-Earth orbit in October 2023. This mission aims to provide space access for NSW-based Australian space startups to demonstrate their technologies. The Waratah Seed mission is supported by the NSW Government and is Australia's first rideshare initiative, set to deliver a 6U CubeSat platform for testing in low-Earth orbit.

Positive

• Agreement with CUAVA enhances Momentus's position in the Australian space market.
• Supports local startups by offering technology demonstration opportunities.
• First rideshare mission in Australia signifies growing market potential.

Negative

• None.

SAN JOSE, Calif.--(BUSINESS WIRE)-- Momentus Inc. (NASDAQ: MNTS) ("Momentus" or the "Company"), a U.S. commercial space company that plans to offer transportation and other in-space infrastructure services, today announced an agreement with the Australian Research Council Training Centre for CubeSats, Uncrewed Aerial Vehicles, and their Applications (CUAVA) for the transportation of the Waratah Seed WS-1 CubeSat to low-Earth orbit in October 2023.

Illustration of Waratah Seed WS-1 CubeSat in space. Photo Credit: CUAVA

The Waratah Seed WS-1 mission will carry payloads from the winners of a competition to support NSW-based Australian space start-up companies in demonstrating their technology in space and gaining spaceflight heritage. The Waratah Seed WS-1 mission will also carry commercial clients with the final manifest expected to be announced soon.

Momentus signed its first services agreement with CUAVA earlier this year to fly the CUAVA-2 CubeSat.

“We’re happy to continue to grow our relationship with CUAVA and support the Waratah Seed mission that provides space access to a new generation of innovators,” said Momentus Chief Executive Officer John Rood. “Space infrastructure services can enable expanded access to space and optimize the use of space, and we’re looking forward to supporting Australia’s first rideshare mission as it seeks to bring new ideas and technologies to the space economy.”

Waratah Seed

Waratah Seed is Australia's first rideshare mission, an Australian-built industry and commercially focused CubeSat. Supported by the NSW Government through their Space Industry Development program, Waratah Seed's mission is to deliver a 6U CubeSat platform providing spaceflight opportunities in low-Earth orbit to test and prove function and capability.

The Waratah Seed Consortium is a partnership between CUAVA, centered at the University of Sydney, ACSER at the University of NSW, Saber Astronautics, Delta-V NewSpace Alliance, Macquarie University, and the University of Technology Sydney.

CUAVA

CUAVA is the Australian Research Council Training Centre for CubeSats, UAVs and their Applications, centered at the University of Sydney. CUAVA aims to fundamentally change the capabilities and applications of CubeSats to create major commercial value with wide applications.

"We are very excited to have signed two launch contracts with Momentus that will see both our rideshare satellite WS-1 and the CUAVA-2 CubeSat go into space in 2023,” said Director of Waratah Seed and CUAVA Professor Iver Cairns. “Working with Momentus has been very productive and enjoyable, despite the many challenges in developing a complex pilot project like the Waratah Seed."

About Momentus

Momentus is a U.S. commercial space company that plans to offer in-space infrastructure services, including in-space transportation, hosted payloads and in-orbit services. Momentus believes it can make new ways of operating in space possible with its in-space transfer and service vehicles that will be powered by an innovative water plasma-based propulsion system that is under development.

Forward-Looking Statements

This press release contains certain statements which may constitute “forward-looking statements” for purposes of the federal securities laws. Forward-looking statements include, but are not limited to, statements regarding Momentus or its management team’s expectations, hopes, beliefs, intentions or strategies regarding the future, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, and are not guarantees of future performance. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of Momentus’ control. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to risks and uncertainties included under the heading “Risk Factors” in the Annual Report on Form 10-K filed by the Company on March 9, 2022, as such factors may be updated from time to time in our other filings with the Securities and Exchange Commission (the "SEC"), accessible on the SEC’s website at www.sec.gov and the Investor Relations section of our website at investors.momentus.space. 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, except as required by law, the Company 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221219005836/en/

Investors

Darryl Genovesi at investors@momentus.space

Media

Jessica Pieczonka at press@momentus.space

Source: Momentus Inc.

FAQ

What is the Waratah Seed WS-1 mission by Momentus?

The Waratah Seed WS-1 mission is a CubeSat project aimed at transporting payloads for Australian space startups to demonstrate their technologies in low-Earth orbit.

When is the Waratah Seed WS-1 CubeSat scheduled to launch?

The CubeSat is scheduled to launch in October 2023.

Who is Momentus partnering with for the Waratah Seed mission?

Momentus is partnering with the Australian Research Council Training Centre for CubeSats (CUAVA) for the mission.

How does the Waratah Seed mission benefit Australian startups?

The mission provides space access for NSW-based Australian startups to test and prove their technologies in space.

What is the significance of the Waratah Seed mission for Momentus?

It represents Momentus's expansion into the Australian market and supports its strategy of offering transportation and in-space infrastructure services.