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Momentus Inc. (NASDAQ: MNTS), a U.S. commercial space company, has secured an agreement with FOSSA Systems to launch a PocketPod as part of their Vigoride mission planned for October 2023. This deployment will include a picosatellite deployer capable of housing eight PocketQube satellites, aimed at providing IoT, Earth Observation, and demonstration services. FOSSA, known for its global IoT connectivity, is set to expand its satellite operations with this collaboration, furthering their constellation of satellites in orbit, which currently totals 13. This partnership underscores Momentus' role in optimizing small satellite missions.
Positive
Agreement to launch PocketPod for FOSSA Systems expands Momentus' business in satellite deployment.
Enhances Momentus' capabilities in in-space infrastructure services.
Continued collaboration with FOSSA supports growth in the IoT satellite market.
Negative
None.
SAN JOSE, Calif.--(BUSINESS WIRE)--
Momentus Inc. (NASDAQ: MNTS) ("Momentus" or the "Company"), a U.S. commercial space company that offers transportation and other in-space infrastructure services, has entered into an agreement to fly a PocketPod for FOSSA Systems ("FOSSA"), a Spanish company that offers global low-power Internet of Things (IoT) connectivity and in-space services through its satellite constellation, on a Vigoride mission targeted to launch in October 2023.
A FOSSA Systems' PocketPod being integrated on a Momentus Vigoride that launched in May 2022. (Photo: Momentus)
Under the agreement with Momentus, FOSSA will be launching a picosatellite deployer with the capacity for 8 PocketQube satellites as part of its launch brokerage capabilities and services. This deployer will house several 250g 5x5x5 cm satellites serving different IoT, Earth Observation, and demonstration platforms for yet-to-be-announced customers. FOSSA already launched four PocketPod deployers in 2022, including PocketPod-3 and PocketPod-4 on Momentus'May 2022 inaugural mission.
"FOSSA Systems continues to use small satellites to bring space-based benefits to Earth," said Momentus Chief Commercial Officer Chris Kinman. "Orbital Service Vehicles, like Vigoride, can help optimize small satellite missions by offering lower launch costs, hosted payload support, and in-space services to optimize and extend missions. We're looking forward to continued cooperation with FOSSA as they use small satellites to create great outcomes."
Momentus and FOSSA Systems recently announced an agreement to deliver FOSSA's latest generation of satellites, FOSSASat FEROX, into low-Earth orbit on two Vigoride Orbital Service Vehicle missions starting in 2023.
"This launch reaffirms our vertical development of space infrastructure, operations and launch. FOSSA Systems already has a constellation of 13 picosatellites in orbit for IoT and other space-related services. With our 80-satellite constellation, we are supporting customers in sectors such as Maritime, Logistics, Infrastructure, or Utilities," said FOSSA Chief Executive Officer Julian Fernandez. "We are happy to continue working with Momentus as a gateway to space."
About Momentus
Momentus is a U.S. commercial space company that offers 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.
About FOSSA
FOSSA Systems is a Spanish company that provides dedicated space services and complete IoT solutions that enable the transmission of information from a device located anywhere on the planet through satellite connectivity. FOSSA provides turnkey solutions for companies of all sizes, from a farmer in Argentina to a corporation that operates a network of thousands of kilometers of oil pipelines, with satellite IoT as its core. FOSSA is pioneering a market that currently has 10 billion connected devices and that it expects to have more than 25 billion by 2025. With their 80-satellite constellation by 2024, they expect to connect millions of devices directly to their network, offering global and real-time direct-to-device LPWAN coverage. FOSSA has verticalized the manufacturing process of satellites, space operations and ground segment services and currently has 13 satellites in orbit.
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 “Risk Factors” in the Proxy Statement/Prospectus filed by the Company on July 23, 2021, 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.
