Rocket Lab Selected to Provide Venture Class Launch Services for NASA

Rhea-AI Summary

Rocket Lab has been selected by NASA as one of twelve companies to provide launch services for the agency's Venture-Class Acquisition of Dedicated and Rideshare (VADR) missions. This initiative offers new opportunities for science and technology payloads while enhancing the growing U.S. commercial launch market. The VADR program has a total budget of $300 million for launch contracts over five years, allowing for a range of payload deliveries, contributing to NASA's research and technology development.

Positive

• Selected by NASA for VADR missions, indicating strong market position.
• VADR program budget of $300 million opens multiple opportunities for future contracts.

Negative

• None.

Rocket Lab among companies selected to provide launch services for the agency’s Venture-Class Acquisition of Dedicated and Rideshare (VADR) missions, providing new opportunities for science and technology payloads and fostering a growing U.S. commercial launch market.

LONG BEACH, Calif.--(BUSINESS WIRE)-- Rocket Lab USA, Inc. (“Rocket Lab” or the “Company”) (Nasdaq: RKLB), a leading launch provider and space systems company, has today announced that it has been selected by NASA as one of twelve companies to provide launch services for the agency’s Venture-Class Acquisition of Dedicated and Rideshare (VADR) missions, providing new opportunities for science and technology payloads and fostering a growing U.S. commercial launch market. VADR is a five-year program with a maximum total budget for $300 million in launch contracts.

Rocket Lab Electron Launch Vehicle Featuring NASA Meatball (Photo: Business Wire)

Rocket Lab founder and CEO, Peter Beck says the Rocket Lab team is proud to be selected by NASA once again to provide launch services for the nation’s science and technology payloads. “We are absolutely thrilled to be selected by NASA to support VADR missions, continuing our heritage of delivering a reliable ride to space for the agency’s small satellites as both dedicated and rideshare missions. NASA’s Launch Services Program plays a crucial role in growing the U.S launch industry by ensuring resilient space access and we could not be prouder to play a role in that,” said Mr. Beck.

The VADR contracts will provide NASA with a broad range of Federal Aviation Administration-licensed commercial launch services capable of delivering payloads ranging from CubeSats to Class D missions to a variety of orbits, contributing to NASA’s science research and technology development.

Managed by NASA’s Launch Services Program, the VADR acquisition builds on NASA’s previous procurement efforts including the Venture Class Launch Services (VCLS) contracts, which are fostering development of new, small launch vehicles for NASA payloads. Rocket Lab launched the first VCLS mission in December 2018, successfully deploying 13 educational satellites to orbit from the Electron launch vehicle. The VADR contract joins a growing list of upcoming Rocket Lab missions for NASA:

• CAPSTONE – Mission to the Moon: In February 2020, NASA selected Rocket Lab to provide launch services and a Photon spacecraft bus for CAPSTONE (the Cislunar Autonomous Positioning System Technology Operations and Navigation Experiment), a satellite created by Advanced Space that will serve as the first spacecraft to test a unique, elliptical lunar orbit as a precursor for Gateway and other Artemis elements.
• ESCAPADE – Mission to Mars: In June 2021, Rocket Lab was awarded a subcontract by the University of California Berkeley Space Sciences Laboratory (UCBSSL) to design two Photon spacecraft for a scientific mission to Mars. ESCAPADE is being developed under NASA’s Small Innovative Missions for Planetary Exploration (SIMPLEx) program in the Science Mission Directorate (SMD). The missionwill see two Photon spacecraft orbit Mars, supporting UCBSSL’s mission to understand the structure, composition, variability, and dynamics of Mars' unique hybrid magnetosphere.
• ACS3 – Solar Sail: In October 2021, Rocket Lab was selected to launch NASA’s Advanced Composite Solar Sail System (ACS3) on the Electron launch vehicle. NASA’s ACS3 technology demonstration uses composite in its novel, lightweight booms that deploy from a CubeSat to support a solar sail. Data obtained from the ACS3 demonstration will guide the design of future larger-scale composite solar sail systems that could be used for space weather early warning satellites, near-Earth asteroid reconnaissance missions, or communications relays for crewed exploration missions.

About Rocket Lab

Founded in 2006, Rocket Lab is an end-to-end space company with an established track record of mission success. We deliver reliable launch services, spacecraft components, satellites and other spacecraft and on-orbit management solutions that make it faster, easier and more affordable to access space. Headquartered in Long Beach, California, Rocket Lab designs and manufactures the Electron small orbital launch vehicle and the Photon satellite platform and is developing the Neutron 8-ton payload class launch vehicle. Since its first orbital launch in January 2018, Rocket Lab’s Electron launch vehicle has become the second most frequently launched U.S. rocket annually and has delivered 109 satellites to orbit for private and public sector organizations, enabling operations in national security, scientific research, space debris mitigation, Earth observation, climate monitoring, and communications. Rocket Lab’s Photon spacecraft platform has been selected to support NASA missions to the Moon and Mars, as well as the first private commercial mission to Venus. Rocket Lab has three launch pads at two launch sites, including two launch pads at a private orbital launch site located in New Zealand, one of which is currently operational, and a second launch site in Virginia, USA which is expected to become operational in 2022. To learn more, visit www.rocketlabusa.com.

Forward-Looking Statements

This press release may contain certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. These forward-looking statements are based on Rocket Lab’s current expectations and beliefs concerning future developments and their potential effects. These forward-looking statements involve a number of risks, uncertainties (many of which are beyond Rocket Lab’s control), or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including risks related to the global COVID-19 pandemic; risks related to government restrictions and lock-downs in New Zealand and other countries in which we operate that could delay or suspend our operations; delays and disruptions in expansion efforts; our dependence on a limited number of customers; the harsh and unpredictable environment of space in which our products operate which could adversely affect our launch vehicle and spacecraft; increased congestion from the proliferation of low Earth orbit constellations which could materially increase the risk of potential collision with space debris or another spacecraft and limit or impair our launch flexibility and/or access to our own orbital slots; increased competition in our industry due in part to rapid technological development and decreasing costs; technological change in our industry which we may not be able to keep up with or which may render our services uncompetitive; average selling price trends; failure of our launch vehicles, satellites and components to operate as intended either due to our error in design in production or through no fault of our own; launch schedule disruptions; supply chain disruptions, product delays or failures; design and engineering flaws; launch failures; natural disasters and epidemics or pandemics; changes in governmental regulations including with respect to trade and export restrictions, or in the status of our regulatory approvals or applications; or other events that force us to cancel or reschedule launches, including customer contractual rescheduling and termination rights; risks that acquisitions may not be completed on the anticipated timeframe or at all or do not achieve the anticipated benefits and results; and the other risks detailed from time to time in Rocket Lab’s filings with the Securities and Exchange Commission (the “SEC”), including under the heading “Risk Factors” in the prospectus dated October 7, 2021 related to our Registration Statement on Form S-1 (File No. 333-259757), which was filed with the Securities and Exchange Commission pursuant to Rule 424(b) on October 7, 2021 and elsewhere (including that the impact of the COVID-19 pandemic may also exacerbate the risks discussed therein). There can be no assurance that the future developments affecting Rocket Lab will be those that we have anticipated. Except as required by law, Rocket Lab is not undertaking any obligation to update or revise any 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/20220127005965/en/

+ Rocket Lab Media Contact

Morgan Bailey

media@rocketlabusa.com

+64 27 538 9039

Source: Rocket Lab USA, Inc.

FAQ

What is the significance of Rocket Lab's selection for VADR?

Rocket Lab's selection for NASA's VADR indicates its strong competitive position in the commercial launch market and potential for increased revenue.

How much is the VADR program budget?

The VADR program has a total budget of $300 million for launch contracts over five years.

What types of payloads will Rocket Lab be launching under the VADR contracts?

Rocket Lab will provide launch services for a wide range of payloads, including CubeSats and Class D missions.

When did Rocket Lab launch the first mission under the VCLS contracts?

Rocket Lab launched the first VCLS mission in December 2018, successfully deploying 13 satellites.

What are some of the notable missions Rocket Lab has been contracted for?

Rocket Lab has been contracted for notable missions including CAPSTONE to the Moon and ESCAPADE to Mars.