Momentus Enters Into Collaboration Agreement with Lodestar Space for Robotics in Space

Rhea-AI Summary

Momentus Inc. (NASDAQ: MNTS) has entered into a Collaboration Agreement with Lodestar Space to integrate a robotic arm onto a Momentus Vigoride Orbital Service Vehicle (OSV). This project aims to develop capabilities for inspecting, protecting, and repairing vital assets beyond Earth. Lodestar Space received a £800,000 grant from the UK Space Agency to fund the development of a platform-agnostic modular robotic arm for dynamic space operations.

Momentus will support the project by providing information on Rendezvous and Proximity Operations and Docking (RPOD), mission operations, and spacecraft operations. This collaboration represents another unique project for Momentus and its flight-proven Vigoride spacecraft, furthering the company's position in commercial satellite buses and in-space infrastructure services.

Positive

• Collaboration with Lodestar Space to integrate robotic arm onto Vigoride OSV
• Potential expansion of Momentus' in-space service capabilities
• Involvement in a UK Space Agency funded project worth £800,000

Negative

• None.

Space Technology Analyst

This collaboration between Momentus and Lodestar Space marks a significant step in advancing robotic capabilities for in-space operations. The integration of Lodestar's robotic arm onto Momentus' Vigoride OSV could potentially revolutionize satellite maintenance and repair missions. The £800,000 grant from UKSA underscores the project's importance and potential impact on the space industry.

The development of platform-agnostic modular robotic arms could lead to more versatile and cost-effective space missions. This technology could extend the lifespan of satellites, reduce space debris and enable more complex in-orbit operations. However, the success of this project hinges on overcoming significant technical challenges, including the complexities of Rendezvous and Proximity Operations and Docking (RPOD) in the harsh space environment.

For investors, this collaboration could position Momentus as a key player in the growing market for in-space services, potentially leading to new revenue streams and increased market share. However, the long development cycle and high risks associated with space technologies should be carefully considered.

Financial Analyst

While this collaboration agreement is promising, its immediate financial impact on Momentus (NASDAQ: MNTS) is likely The company's involvement appears to be primarily in a supporting role, providing information and expertise rather than direct funding or revenue generation. However, the long-term potential could be significant if the project leads to commercial applications.

Investors should note that Momentus, as a provider of in-space infrastructure services, is operating in a high-risk, high-reward sector. The company's ability to capitalize on this collaboration and translate it into tangible financial benefits will be crucial. Key metrics to watch include R&D expenses, potential future revenue streams from robotic arm missions and any changes in the company's contract backlog.

Given the early stage of this project and the inherent uncertainties in space technology development, I would categorize this news as cautiously positive for Momentus' long-term prospects, but with short-term financial impact.

SAN JOSE, Calif.--(BUSINESS WIRE)-- Momentus Inc. (NASDAQ: MNTS) ("Momentus" or the "Company"), a provider of satellite buses and in-space infrastructure services including in-space transportation, hosted payloads, and other in-orbit services, entered into a Collaboration Agreement with Lodestar Space to integrate a robotic arm onto a Momentus Vigoride Orbital Service Vehicle (OSV).

Momentus will work with Lodestar Space to define the requirements to integrate and perform a robotic arm mission on a Vigoride Orbital Service Vehicle. Lodestar Space received a United Kingdom Space Agency (UKSA) grant of £800,000 to fund the development of a platform-agnostic modular robotic arm to perform contact dependent dynamic space operations. The project is intended to develop a capability to inspect, protect and repair vital assets beyond Earth. Momentus will support the project with information on concepts around Rendezvous and Proximity Operations and Docking (RPOD), mission operations, and information on spacecraft operations.

This is another unique project for Momentus and our flight-proven Vigoride spacecraft. We look forward to collaboration with the UK’s Lodestar Space to support the development of advanced robotic capabilities for cutting-edge in-space operations.

About Momentus Inc.

Momentus is a U.S. commercial space company that offers commercial satellite buses and in-space infrastructure services including in-space transportation, hosted payloads, and other in-orbit services.

About Lodestar Space Ltd.

Lodestar Space is a London-based company developing an integrated hardware and software suite to provide critical physical and dexterous manipulation for protecting, inspecting, and repairing space assets. Safeguarding national security today and enabling large scale in-orbit construction for tomorrow.

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 the expected closing of the offering and fulfillment of customary closing conditions, 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 June 6, 2024, as such factors may be updated from time to time in our other filings with the Commission, accessible on the Commission’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/20240913488180/en/

Investors: investors@momentus.space



Media: press@momentus.space

Source: Momentus Inc.

FAQ

What is the purpose of Momentus' collaboration with Lodestar Space?

Momentus is collaborating with Lodestar Space to integrate a robotic arm onto a Momentus Vigoride Orbital Service Vehicle (OSV) for inspecting, protecting, and repairing vital assets in space.

How much funding did Lodestar Space receive for the robotic arm project?

Lodestar Space received a £800,000 grant from the United Kingdom Space Agency (UKSA) to fund the development of a platform-agnostic modular robotic arm for dynamic space operations.

What specific support will Momentus (MNTS) provide in this collaboration?

Momentus will provide information on Rendezvous and Proximity Operations and Docking (RPOD), mission operations, and spacecraft operations to support the integration of the robotic arm onto the Vigoride Orbital Service Vehicle.

What are the potential applications of the robotic arm being developed by Lodestar Space and Momentus (MNTS)?

The robotic arm is intended to perform contact-dependent dynamic space operations, including inspecting, protecting, and repairing vital assets beyond Earth.