As the prime contractor, Rocket Lab will
design, build, test, and operate the Tranche 2 Transport Layer-Beta
satellites for SDA’s Proliferated Warfighter Space Architecture
(PWSA)
Rocket Lab USA, Inc. (Nasdaq: RKLB) (“Rocket Lab” or “the
Company”), a leading provider of space launch services and advanced
satellite technology, today announced it has been selected by and
is under contract with the Space Development Agency (SDA) to design
and build 18 Tranche 2 Transport Layer-Beta Data Transport
Satellites (T2TL - Beta).
Rocket Lab will act as prime contractor for the $515 million USD
firm-fixed price agreement, leading the design, development,
production, test, and operations of the satellites, including
procurement and integration of the payload subsystems. The contract
establishes Rocket Lab’s position as a leading satellite prime
contractor, providing supply chain diversity to the Department of
Defense (DoD) through vertical integration. The contract comprises
$489 million base plus $26 million of incentives and options and
will be carried out by Rocket Lab National Security (RLNS), the
Company’s wholly owned subsidiary created to serve the unique needs
of the U.S. defense and intelligence community and its allies.
The SDA is procuring satellites in two-year "tranches" to build
out a proliferated constellation in LEO to deliver needed
space-based capabilities to the joint war fighter. The T2TL – Beta
satellites, part of the Tranche 2 program, will be integrated into
SDA’s Transport Layer to provide assured, resilient, low-latency
military data and connectivity worldwide to meet DoD needs.
“This contract marks the beginning of Rocket Lab’s new era as a
leading satellite prime. We’ve methodically executed on our
strategy of developing and acquiring experienced teams, advanced
technology, manufacturing facilities, and a robust spacecraft
supply chain to make this possible. It’s exciting to now be
delivering this capability for government and commercial customers
alike,” said Rocket Lab founder and CEO, Peter Beck. “SDA’s
acquisition approach favors speed, schedule certainty, and
affordability to deliver next-generation space capabilities to the
nation. We’ve proven Rocket Lab is capable of delivering this
across our launch and spacecraft programs and we look forward to
delivering it for SDA.”
All 18 satellites will integrate subsystems and components built
in-house by Rocket Lab, including solar panels, structures, star
trackers, reaction wheels, radio, flight software, avionics, and
launch dispenser. This high degree of vertical integration gives
Rocket Lab a rare level of control over supply chain, enabling
efficiencies and certainty on cost, schedule and quality. The
satellites will be built at Rocket Lab’s advanced spacecraft
development and manufacturing complex within the Company’s Long
Beach headquarters. The facility includes a 12,000 sq. ft.
cleanroom and 40,000 sq. ft. of streamlined production & test
facilities designed to support constellation class manufacturing
and satellite assembly, integration and test for commercial, civil
and national security customers. The satellites are scheduled for
launch in 2027.
As a leading provider of advanced spacecraft and components,
Rocket Lab has a backlog of more than 40 satellites in development
and production. Rocket Lab satellite technology and components have
been integrated into more than 1,700 satellite missions
globally.
Conference Call Information
Rocket Lab will host a conference call for investors at 2 p.m.
PT (5 p.m. ET) today to discuss the SDA contract.
The live webcast and a replay of the webcast will be available
on Rocket Lab’s Investor Relations website:
https://investors.rocketlabusa.com/events-and-presentations/events
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+ 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, 2022, 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.
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+ Rocket Lab Media Contact Morgan Bailey
media@rocketlabusa.com
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