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Poland’s SatRev Signs On for Future Virgin Orbit Flights
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
Virgin Orbit (NASDAQ: VORB) has entered a follow-on launch services agreement with Polish satellite manufacturer SatRev for additional satellite launches in 2023 and beyond. This agreement allows SatRev to launch 500 kg of payload across multiple launches from various international sites, including Mojave Air and Space Port. Virgin Orbit has successfully launched four of SatRev's satellites already. Both companies express excitement for future collaborations, with SatRev aiming to expand its satellite constellation for improved earth observation capabilities. This partnership emphasizes cost-effective access to space and innovative satellite technology.
Positive
Follow-on launch services agreement increases potential revenue from SatRev.
Successful launch of four SatRev satellites demonstrates operational capability.
Strengthened partnership may enhance Virgin Orbit's market presence in satellite launches.
Negative
None.
LONG BEACH, Calif.--(BUSINESS WIRE)--
Virgin Orbit (NASDAQ: VORB) and Poland-based satellite manufacturer SatRev announced a follow-on launch services agreement (LSA) for additional launches of SatRev’s satellites in 2023 and beyond.
This new agreement provides SatRev with the flexibility to launch 500 kg over multiple launches to a variety of different orbital planes from the Mojave Air and Space Port in California, USA and/or from other international launch sites as they come online with mission requirements. Four satellites built by SatRev have already been delivered to Low Earth Orbit by Virgin Orbit’s LauncherOne system onboard missions Tubular Bells and Above the Clouds. The parties anticipate launching a new batch of SatRev’s satellites as soon as 2023.
Virgin Orbit CEO Dan Hart said, “The team at SatRev continues to advance the frontiers of what is possible to accomplish with a constellation of smaller, more affordable satellites. SatRev has been a great collaborator, and we are excited by what the future holds as they expand their constellation and continue to bring top-notch space services to their international customer base. We’re delighted to build upon the strong foundations of this relationship with our latest launch contract, and we look forward to providing launch services for the SatRev team for many years to come.”
SatRev CEO Grzegorz Zwoliński said, “Today marks a major milestone for SatRev as we officially announce our Launch Service Agreement with Virgin Orbit. This 3-year partnership further solidifies our commitment to providing reliable and cost-effective access to space for our customers. With Virgin Orbit’s proven track record in the industry, we are confident that this collaboration will drive innovation and bring new opportunities for growth. We are excited to work together and bring our shared vision for the future of satellite launch to life.”
STORK is a CubeSat for earth observation and technology testing and built and operated by SatRev from Poland. The STORK 3U CubeSats features SatRev’s Vision-300 imager with a ground resolution of up to 5m. SatRev will soon start deploying ScopeSat, with the revolutionary DeploScope technology, which will enable SatRev to collect high resolution data from 6U CubeSats. The STORK and ScopeSat satellites will form the Real-time Earth Observation Constellation, which will provide multispectral mid- and hi-resolution data with a revisit time of 30 minutes.
ABOUT VIRGIN ORBIT
Virgin Orbit Holdings, Inc (Nasdaq: VORB) operates one of the most flexible and responsive space launch systems ever built. Founded by Sir Richard Branson in 2017, the Company began commercial service in 2021, and has already delivered commercial, civil, national security, and international satellites into orbit. Virgin Orbit’s LauncherOne rockets are designed and manufactured in Long Beach, California, and are air-launched from a modified 747-400 carrier aircraft that allows Virgin Orbit Holdings, Inc to operate from locations all over the world in order to best serve each customer’s needs. Learn more at www.virginorbit.com and visit us on LinkedIn, on Twitter@virginorbit, and on Instagram @virgin.orbit.
ABOUT SATREV
SatRev is a Polish company established in 2016 to develop the Real-time Earth Observation Constellation and become the largest worldwide operator of EO satellites. The Company aims to deliver 1,024 nanosatellites to the Low Earth Orbit by 2030 to provide round-the-clock Earth Observation, complete manufacturing and management of the satellites, as well as compliance monitoring, and on-site engineering consulting. For more, please visit www.satrev.space.
This press release contains certain forward-looking statements within the meaning of the federal securities laws. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to the ability of Virgin Orbit Holdings, Inc. (“Virgin Orbit” or the “Company”) to access sources of capital; its ability to grow market share in the developing space economy; market acceptance of its current and planned products and services and ability to achieve sufficient production volumes, as well as the factors, risks and uncertainties included in the Company’s Quarterly Report on Form 10-Q for the period ended Sept. 30, 2022 as well as in the Company’s subsequent filings with the Securities and Exchange Commission (the “SEC”), accessible on the SEC’s website at www.sec.gov and the Investor Information section of the Company’s website at www.virginorbit.com. 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 Virgin Orbit 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. Virgin Orbit gives no assurance that it will achieve its expectations.
