Welcome to our dedicated page for Momentus news (Ticker: MNTS), a resource for investors and traders seeking the latest updates and insights on Momentus stock.
Momentus Inc. (MNTS) is a pioneering company in the commercialization of space, specializing in in-space transportation and infrastructure technology. With a seasoned team of aerospace, propulsion, and robotics engineers, Momentus has developed a highly efficient and cost-effective in-space transport system utilizing advanced plasma water propulsion technology. The company offers critical services in the new space economy, including Space Transportation, Satellite as a Service, and In-Orbit Servicing.
Momentus has established significant partnerships with industry giants such as Lockheed Martin and NASA, as well as various private satellite companies, government agencies, and research organizations. These collaborations underscore the company's strategic importance and operational capabilities in the space sector.
One of Momentus's notable projects is the Vigoride™ transport system, which is designed to carry satellites and hosted payloads between orbits. The first Vigoride™ launch was scheduled for December 2020, marking a significant milestone in the company's journey toward enhancing space infrastructure.
Momentus Inc. continues to push the boundaries of space technology, ensuring sustainable and efficient in-space operations. For investors and stakeholders, the company represents a crucial player in the ongoing expansion of the space economy, offering innovative solutions that cater to the growing demand for space services.
Momentus Inc. (NASDAQ: MNTS) has released its fifth Mission Update for the Vigoride mission launched on May 25. Since the last update on August 3, the company successfully deployed additional payloads, including the SelfieSat, which will capture images of Earth. Momentus has now deployed eight customer satellites in low Earth orbit and plans to continue deploying remaining payloads. The company has agreements with SpaceX for further Vigoride launches throughout 2023, reflecting its ongoing efforts to expand in-space infrastructure services.
Momentus Inc. (NASDAQ: MNTS) announced its participation in two major space events: the World Satellite Business Week from September 12-16 and the International Astronautical Congress from September 18-22, both in Paris, France. CEO John Rood will discuss in-space logistics on September 14. Momentus aims to promote its vision for space infrastructure, focusing on last-mile delivery and sustainability solutions. The company successfully launched its Vigoride vehicle earlier this year and plans another launch in November.
Momentus Inc. (NASDAQ: MNTS) has granted inducement awards to 30 new employees, totaling 1,269,645 restricted stock units (RSUs) worth approximately $2.55 million, based on a share price of $2.01 as of August 22, 2022. These awards are designed to attract talent and are contingent on the employees' continued service, featuring a three- or four-year vesting schedule. Momentus focuses on in-space infrastructure services, including transportation and payload hosting, powered by its innovative water plasma propulsion technology.
Momentus Inc. (NASDAQ: MNTS) has announced a service agreement with LuxSpace to transport its Triton-X small satellite platform aboard a Vigoride Orbital Transfer Vehicle in 2023. This mission aims to demonstrate key Triton-X subsystems. LuxSpace's CEO highlighted the importance of the launch for validating technologies within the Triton-X product line. Momentus CEO expressed commitment to support LuxSpace, emphasizing the role of hosted payloads in providing operational efficiency. The Triton-X platform is designed for small LEO satellites, leveraging over 15 years of heritage from previous designs.
Momentus Inc. (NASDAQ: MNTS) reported its Q2 2022 financial results, marking significant milestones in its space services initiative. The company has cleared regulatory hurdles and successfully launched its Vigoride 3 vehicle, deploying seven customer satellites to low Earth orbit. Momentus plans to incorporate lessons learned from this launch into future missions, with additional launches scheduled for late 2022 and beyond. The company aims to reduce its cash burn rate and extend its financial runway into 2023 by cutting overhead and delaying R&D projects.
Momentus (NASDAQ: MNTS), a U.S. commercial space company, will report its financial results for Q2 2022 on August 11, 2022, before U.S. markets open. The company will host a conference call at 12:00 p.m. ET to discuss these results. Participants can join the call by dialing +1 (800) 715-9871 for U.S. callers or +1 (646) 307-1963 for international callers. Additional information will be available on their Investor Relations website.
Momentus (NASDAQ: MNTS), a U.S. commercial space company, reported its fourth Mission Update for the inaugural Vigoride mission initiated on May 25. Since June 29, the company deployed four additional customer satellites, bringing the total to seven, with three remaining onboard. Anomalies were experienced during the initial mission, but the root cause was identified, and corrective actions are in progress. Future launches with SpaceX are planned for November 2022 and beyond, continuing the development of in-space transportation services.
Momentus Inc. (NASDAQ: MNTS) announced the appointment of Krishnan J. Anand as Vice President of Program Management. Anand will focus on enhancing program management practices, ensuring financial and quality objectives are met. His previous experience includes leading program management at Kitty Hawk Corp/Wisk Aero and roles at Lockheed Martin, where he managed a $256M THAAD missile defense project. This strategic hire aims to bolster Momentus's capabilities in commercial space transportation and infrastructure services.
FreeWire Technologies, a leader in ultrafast electric vehicle charging, has announced the appointment of Alex Fishkin as Chief Legal Officer, Elaine Wu as Vice President of Strategic Sourcing & Logistics, and Mark Marosz as Vice President of Quality & Compliance. These strategic hires come amidst growing demand for EV charging solutions and aim to enhance operations amidst supply chain challenges. FreeWire is also expanding its U.S. operations, driven by the Bipartisan Infrastructure Law, and recently launched a new global headquarters in Newark, CA to accelerate innovation in EV charging.
Momentus Inc. (NASDAQ: MNTS) provided a third Mission Update following the launch of its Vigoride-3 spacecraft on May 25. The vehicle faced operational anomalies including malfunctioning deployable solar arrays, impacting power and communications. Despite these challenges, two customer satellites were successfully deployed on May 28. However, the company has expressed decreased confidence in deploying additional satellites as communication issues persist. Momentus plans further Vigoride launches later this year, intending to implement lessons learned from the current mission.
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