Rocket Lab to Celebrate CHIPS Act Funding Preliminary Agreement in Albuquerque

Rhea-AI Summary

Rocket Lab USA (Nasdaq: RKLB), a leader in launch services and space systems, announced a preliminary agreement under the U.S. CHIPS and Science Act. The agreement will be celebrated at Rocket Lab’s facility in Albuquerque, New Mexico, on July 15, 2024. This investment aims to expand Rocket Lab's space-grade solar cell manufacturing, creating over 100 jobs. The event will feature remarks from several prominent government officials, including U.S. Senators Martin Heinrich and Ben Ray Luján, New Mexico Governor Michelle Lujan Grisham, and U.S. Deputy Secretary of Commerce Don Graves. Media check-in is at 9:00 a.m. MT at Rocket Lab's Albuquerque facility.

LONG BEACH, Calif.--(BUSINESS WIRE)-- Rocket Lab USA, Inc. (Nasdaq: RKLB) (“Rocket Lab” or “the Company”), a global leader in launch services and space systems, will welcome government and community leaders at its space-grade solar cell manufacturing facility in Albuquerque, New Mexico, on Monday, July 15, 2024, to celebrate Rocket Lab’s signed preliminary agreement under the U.S. CHIPS and Science Act.

The proposed investment would enable Rocket Lab to further expand in New Mexico, creating more the 100 direct manufacturing jobs and increased manufacturing capacity of space-grade solar cells which are important components for national defense and security satellites.

Confirmed Guests: U.S. Senators Martin Heinrich (D-N.M.) and Ben Ray Luján (D-N.M.), New Mexico Governor Michelle Lujan Grisham, U.S. Representative Melanie Stansbury (D-N.M.), and Albuquerque Mayor Tim Keller will be joined by U.S. Deputy Secretary of Commerce Don Graves and White House CHIPS Coordinator Ryan Harper.

Time: Media check-in 9:00 a.m. MT
Location: Rocket Lab, 10420 Research Rd SE Ste 1, Albuquerque, NM 87123
RSVP: https://forms.office.com/g/LPMAZZiaBi

Activities include:

• Remarks from Rocket Lab executive leadership and elected officials
• Media engagement opportunities
• Refreshments

See full announcement here: https://www.businesswire.com/news/home/20240611596553/en/Rocket-Lab-Signs-Preliminary-Terms-to-Receive-up-to-23.9M-in-Funding-Under-the-CHIPS-Act-to-Expand-Production-of-Semiconductors-that-Power-Spacecraft

+ About Rocket Lab

Rocket Lab is a global leader in launch and space systems. Rocket Lab’s Electron launch vehicle is the second most frequently launched U.S. rocket annually and has delivered more than 172 satellites to orbit for commercial and Government partners, including NASA, the U.S. Air Force, DARPA and the NRO. Rocket Lab also delivers proven suborbital hypersonic launch capability with its HASTE launch vehicle. Building on the deep heritage of Electron, Rocket Lab is developing Neutron, an advanced 13-tonne payload class, reusable launch vehicle tailored for constellation deployment and interplanetary missions. Rocket Lab is also a premier supplier of advanced satellites, flight-proven subsystems and spacecraft components. At a component level, Rocket Lab spacecraft technology spans space solar power, composite structures, flight software, star trackers, reaction wheels, separation systems, and more. Rocket Lab satellite technology and components have been integrated into more than 1,700 satellite missions globally. www.rocketlabusa.com.

+ Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward looking statements contained in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding our launch and space systems operations, launch schedule and window, safe and repeatable access to space, Neutron development, operational expansion and business strategy are forward-looking statements. The words “believe,” “may,” “will,” “estimate,” “potential,” “continue,” “anticipate,” “intend,” “expect,” “strategy,” “future,” “could,” “would,” “project,” “plan,” “target,” and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to the factors, risks and uncertainties included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023, 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 www.rocketlabusa.com, which could cause our actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.

+ About CHIPS for America

CHIPS for America is part of President Biden’s economic plan to invest in America, stimulate private sector investment, create good-paying jobs, make more in the United States, and revitalize communities left behind. CHIPS for America includes the CHIPS Program Office, responsible for manufacturing incentives, and the CHIPS Research and Development Office, responsible for R&D programs, that both sit within the National Institute of Standards and Technology (NIST) at the Department of Commerce. NIST promotes U.S. innovation and industrial competitiveness by advancing measurement science, standards, and technology in ways that enhance economic security and improve our quality of life. NIST is uniquely positioned to successfully administer the CHIPS for America program because of the bureau’s strong relationships with U.S. industries, its deep understanding of the semiconductor ecosystem, and its reputation as fair and trusted. Visit https://www.chips.gov to learn more.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240711847976/en/

+ Rocket Lab Media Contact

media@rocketlabusa.com

Source: Rocket Lab USA, Inc.

FAQ

What is Rocket Lab celebrating on July 15, 2024?

Rocket Lab will celebrate a preliminary agreement under the U.S. CHIPS and Science Act at its Albuquerque facility.

How many jobs will the Rocket Lab investment create in Albuquerque?

The investment will create over 100 direct manufacturing jobs.

Which government officials will attend the Rocket Lab event on July 15, 2024?

Attendees include U.S. Senators Martin Heinrich and Ben Ray Luján, New Mexico Governor Michelle Lujan Grisham, and U.S. Deputy Secretary of Commerce Don Graves.

What is the significance of the U.S. CHIPS and Science Act for Rocket Lab?

The U.S. CHIPS and Science Act funding will enable Rocket Lab to expand its manufacturing capacity for space-grade solar cells.

Where is the Rocket Lab event on July 15, 2024, taking place?

The event is at Rocket Lab's space-grade solar cell manufacturing facility at 10420 Research Rd SE Ste 1, Albuquerque, NM 87123.

What time does the Rocket Lab event on July 15, 2024, start?

Media check-in begins at 9:00 a.m. MT.