Momentus Signs Launch Services Agreements With SpaceX

Rhea-AI Summary

Momentus Inc. (NASDAQ: MNTS) has secured multiple launch agreements with SpaceX, establishing a flight schedule through 2023. These agreements include slots for the upcoming Transporter missions, enhancing Momentus' launch cadence as it prepares to introduce its Vigoride orbital transfer vehicle. The company is currently completing testing phases for Vigoride, including Thermal Vacuum Testing and vibration testing. The inaugural flight is expected to occur in June 2022, pending government approvals.

Positive

• Secured multiple launch agreements with SpaceX for upcoming missions.
• Establishes a regular launch cadence for Vigoride services.
• Completed Thermal Vacuum Testing (TVAC) for the Vigoride spacecraft.

Negative

• Inaugural flight subject to government licenses and approvals, which may not be guaranteed.

Launch reservations establish targeted flight schedule through 2023

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, recently announced that it has signed multiple launch agreements with Space Exploration Technologies Corp. ("SpaceX").

These agreements, first announced during the Company's March earnings call, reserve slots for Momentus on four upcoming SpaceX Transporter missions, including the Transporter-6 mission targeted for October 2022, Transporter-7 targeted for January 2023, Transporter-8 targeted for April 2023 and Transporter-9 targeted for October 2023. These slot reservations are in addition to a Launch Services Agreement signed in 2021 for the SpaceX Transporter-5 mission targeted for launch in June 2022.

"Our agreements with SpaceX establish a regular launch cadence for Momentus as we bring our initial services to market," said Momentus CEO John Rood. "We'll use these flight opportunities to demonstrate the capabilities of our Vigoride orbital transfer vehicle, deliver customers to orbit, and continue the development of new technologies to expand our service offerings at lower costs."

Momentus plans to fly its inaugural Vigoride demonstration flight on the upcoming SpaceX Transporter-5 mission, pending receipt of appropriate government licenses and approvals.

In preparation for this flight, the Vigoride spacecraft recently completed Thermal Vacuum Testing (TVAC), which closely simulates the space environment. The Momentus team is now conducting follow-on testing of specific vehicle components to address the few anomalies found during TVAC testing. Vigoride is also undergoing preparation for vibration testing to verify that all systems are ready for the launch environment. Vibration testing is the final phase of the ground test campaign before the vehicle is shipped to the launch service provider for flight.

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 planned in-space transfer and service vehicles that will be powered by an innovative water plasma-based propulsion system that is under development. The Company anticipates flying its first Vigoride vehicle to Low Earth Orbit on a third-party launch provider as early as June 2022, subject to receipt of appropriate government licenses and approvals, for which there is no assurance such licenses and approvals will be received, if at all.

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, plans 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 events, performance or results. The words “may,” “will,” “anticipate,” “believe,” “expect,” “continue,” “could,” “estimate,” “future,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “aim,” “strive,” “predict,” “project,” “should,” “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 neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions.

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 in the “Risk Factors” section of Momentus’ registration statement, 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. These filings identify and address other important risks and uncertainties that could cause the Company’s actual events and results to differ materially from those contained in the forward-looking statements. 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/20220406006137/en/

Investors

Darryl Genovesi at investors@momentus.space

Media

Jessica Pieczonka at press@momentus.space

Source: Momentus Inc.

FAQ

What new agreements has Momentus signed with SpaceX?

Momentus has signed multiple launch agreements with SpaceX, reserving slots for upcoming Transporter missions through 2023.

When is Momentus' first Vigoride flight scheduled?

The first Vigoride flight is targeted for June 2022, pending government approvals.

What tests has the Vigoride spacecraft completed?

The Vigoride spacecraft has completed Thermal Vacuum Testing and is preparing for vibration testing.

What is the significance of the launch agreements for Momentus?

The launch agreements establish a regular launch cadence, allowing Momentus to enhance its service offerings and technology development.

What risks are associated with Momentus' inaugural flight?

The inaugural flight is contingent on receiving necessary government licenses and approvals, which may not be guaranteed.