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The Satellite Applications Catapult and Virgin Orbit (NASDAQ: VORB) have partnered to launch the Amber-1 satellite from the UK later this year. This mission will mark the first orbital launch from a UK spaceport, leveraging Virgin Orbit's LauncherOne. The Amber-1 satellite aims to enhance Maritime Domain Awareness (MDA) by tracking ships globally, aiding governments in combating illegal activities. The project signifies a major milestone for the UK space sector and is a key step in establishing domestic launch capabilities.
Virgin Orbit (Nasdaq: VORB) reported revenue of $7.4 million for the full year 2021, a significant increase from $3.8 million in 2020. The company successfully launched 7 satellites during its Above the Clouds mission on January 13, 2022, marking its third successful launch. As of December 31, 2021, the binding and non-binding backlog reached $575 million, up over 500% from $86 million in 2020. Despite a net loss of $157.3 million, cash reserves improved to $194.2 million, highlighting the company's robust financial position. Virgin Orbit completed its public listing on December 30, 2021.
The Polish Space Agency (POLSA) signed a letter of intent with Virgin Orbit (Nasdaq: VORB) to explore domestic satellite launch capabilities in Poland using the LauncherOne system. This agreement, announced following an official visit by Polish officials to the Virgin Orbit factory, aims to strengthen Poland's space sector and enhance national security through advanced technologies. Virgin Orbit plans to expand its international launch capabilities with upcoming operations in Japan, Brazil, and the UK later this year.
Virgin Orbit (NASDAQ: VORB) announced it will report financial results for Q4 and the full year ending December 31, 2021, on March 29, 2022, after market close. A conference call to discuss these results is scheduled for the same day at 4:30 PM ET. Participants can join via phone or access a live webcast through their investor relations website. A replay will be available until April 12, 2022. Virgin Orbit operates a flexible space launch system, delivering various satellites into orbit since beginning commercial service in 2021.
Virgin Orbit (NASDAQ: VORB) will attend the Deutsche Bank’s 30th Annual Media, Internet & Telecom Conference on March 15 at 3:35 pm ET. CEO Dan Hart is set to present and will participate in one-on-one investor meetings. A live webcast of the presentation will be accessible HERE. Founded by Richard Branson in 2017, Virgin Orbit specializes in responsive space launch solutions.
Virgin Orbit (NASDAQ: VORB) has partnered with Cardiff-based Space Forge to launch the first satellite developed in Wales in summer 2022. This mission will take place from Spaceport Cornwall and aims to test new return capabilities for in-space manufacturing. Space Forge's ForgeStar platform will enable sustainable production of materials in microgravity, potentially reducing CO2 emissions by 75%. The collaboration marks a significant milestone for the UK space industry, highlighting advancements in responsible launch technologies and in-space infrastructure.
Virgin Orbit announced the appointment of Dr. Candace Givens as the new Vice President of Engineering, which aligns with the company's strategy to scale operations amid increasing demand from commercial and government sectors. Dr. Givens brings over 25 years of experience, previously leading remote sensing programs at Northrop Grumman. Her expertise aims to enhance Virgin Orbit's innovative air-launching capabilities, having successfully completed three missions that deployed 26 satellites. This move reflects the ongoing commitment to operational excellence and technological advancement in the space launch industry.
Virgin Orbit has been selected by NASA’s Launch Services Program to provide launch services for VADR missions. This contract is a fixed-price indefinite-delivery/indefinite-quantity agreement, maximizing efficiency with Virgin Orbit’s LauncherOne system. The contract spans five years and has a total value of $300 million. Virgin Orbit has successfully deployed 26 satellites and aims to increase its flight rate to meet growing demands. This selection marks a significant advancement for the company and highlights its capabilities in commercial space operations.
The Sultanate of Oman has partnered with Virgin Orbit (NASDAQ: VORB), SatRevolution, TUATARA, and ETCO for its first deep space mission and satellite launches. The first satellite is set to launch from Cornwall, UK in 2022, with a follow-up deep space mission targeting Q3 2024. The mission aims to gather scientific data on climate change and natural disasters while establishing a sustainable local space ecosystem. This collaboration is aligned with Oman Vision 2040 and includes educational outreach to boost STEM engagement.
Virgin Orbit (Nasdaq: VORB) successfully deployed 7 satellites during its Above the Clouds mission, marking its third launch within a year. The air-launch occurred from Mojave, California, utilizing the 747 aircraft Cosmic Girl, achieving a unique orbit 500km above Earth. This mission included both new and repeat customers like the U.S. Department of Defense. Overall, Virgin Orbit has now launched 26 satellites, expanding capabilities in communications, navigation, and agriculture.
