New Agreement Will Significantly Lower the
Cost of Access to Space, Accelerate Production of Shooting Star™
Cargo Modules as Part of the Expanding Dream Chaser® Spaceplane
Franchise
Sierra Space and Spirit AeroSystems, Inc. [NYSE: SPR] today
announced the formation of a long-term strategic partnership
intended to accelerate access to a vibrant commercial space economy
of the future.
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the full release here:
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Sierra Space and Spirit AeroSystems, Inc.
will work together in the development and production of future
affordable Shooting Star Transport Vehicles under a Letter of
Intent signed between the two companies. (Photo: Business Wire)
Spirit Defense & Space will assist in the development and
production of future affordable Shooting Star Transport Vehicles
under a Letter of Intent signed between the two companies. The
agreement also provides for the two companies to work together to
develop innovative technologies and processes to accelerate Sierra
Space’s expanding Dream Chaser family of scalable spaceplanes to
the market.
Sierra Space is a leading commercial space company at the
forefront of creating and building the future of space
transportation and infrastructure for low-Earth orbit
commercialization. Using Sierra Space’s growing range of space
transportation, infrastructure and associated technologies, the
company intends to expand access to the space economy for other
commercial entities and enable the discoveries and innovations of
the future.
Spirit Defense & Space will work with Sierra Space to
enhance accessibility and efficiency of the Sierra Space Shooting
Star cargo module system to advance a family of cargo and service
modules for on-orbit services. The collaboration combines the
strength of Sierra Space’s advanced space technology expertise with
Spirit AeroSystem’s renowned aerospace industrialization
proficiencies. Visit Shooting Star Cargo Module to view a time
lapse of the first module’s construction.
“Through this long-term partnership, Sierra Space is delighted
to begin work with Tom’s team at Spirit AeroSystems, widely
recognized as leaders in the aerospace industry and aligned with
our vision of an accessible and vibrant space economy,” said Sierra
Space CEO, Tom Vice. “Working with Spirit Defense & Space, we
will broaden access to tomorrow’s space economy; lowering the cost
of entry and increasing the speed to market of Sierra Space’s Dream
Chaser franchise. Together we will accelerate the commercialization
of space.”
Vice continued, “Shooting Star is another innovative
technological solution from Sierra Space for the new space economy,
and with Spirit as a key partner, we are broadening accessibility
to our offering and increasing efficiencies to accelerate more
widespread adoption.”
Aiming to revolutionize commercial space missions to new
destinations, this new partnership will leverage the combined
strengths of Sierra Space and Spirit Defense & Space to design,
fabricate, assemble, integrate and test affordable cargo modules
for upcoming NASA missions and expand the versatility of variant
designs in support of future Sierra Space cargo and service
missions.
“We are very excited about the opportunity this partnership with
Sierra Space represents. Spirit AeroSystems brings unparalleled
value in terms of design for manufacturability and
industrialization to help scale production rates on the Dream
Chaser and its derivatives,” said Tom Gentile, President and CEO,
Spirit AeroSystems. “We look forward to joining Sierra Space on its
mission to create exciting breakthroughs that enable existing
businesses, entrepreneurs, researchers and governments to empower
humanity to enhance life on Earth. We are grateful to Senator Jerry
Moran of Kansas, who assisted with connecting our two companies to
make this partnership possible.”
Initially, the partnership intends to establish production
efficiency and integrated assembly solutions for Sierra Space’s
Shooting Star cargo module, supporting resupply missions to the
International Space Station (ISS) under the NASA Commercial
Resupply Services 2 (CRS-2) contract.
Sierra Space's Shooting Star is a 15-foot transport vehicle that
attaches to the rear of the Dream Chaser® spaceplane. The module
will carry up to 10,000 pounds of pressurized and unpressurized
cargo, including critical science and provisions. Solar panels
deliver six kilowatts of electrical power to the spacecraft, while
six mounted thrusters provide Dream Chaser maneuverability.
In November 2021, Sierra Space secured $1.4 billion in capital,
the largest Series A capital raise in 2021 and the industry’s
second largest private capital raise in history. The Series A
investment was led by General Atlantic, Coatue and Moore Strategic
Ventures, with participation from funds and accounts managed by
BlackRock Private Equity Partners and AE Industrial Partners. The
funding is accelerating the development of the company’s space
transportation systems – led by the Dream Chaser® spaceplane,
in-space destinations for LEO commercialization, and advanced
technologies and space applications.
About Sierra Space
Sierra Space (www.sierraspace.com) is a leading commercial space
company that is building platforms in space to benefit life on
Earth. With more than 30 years and 500 missions of space flight
heritage, Sierra Space is enabling the future of space
transportation with Dream Chaser®, the world’s only winged
commercial spaceplane. Expected to launch in early 2023 on a series
of NASA missions, Dream Chaser can safely carry cargo - and
eventually crew - to on-orbit destinations, returning to land on
compatible commercial airport runways worldwide. Sierra Space is
also building the LIFE™ habitat, a three-story commercial
habitation and science platform designed for low Earth orbit (LEO).
Both Dream Chaser and LIFE are central components to Orbital Reef,
a mixed-use business park in LEO being developed by principal
partners Sierra Space and Blue Origin, which is expected to be
operational by 2027.
About Spirit AeroSystems Inc.
Spirit AeroSystems is one of the world's largest manufacturers
of aerostructures for commercial airplanes, defense platforms, and
business/regional jets. With expertise in aluminum and advanced
composite manufacturing solutions, the company's core products
include fuselages, integrated wings and wing components, pylons,
and nacelles. We are leveraging decades of design and manufacturing
expertise to be the most innovative and reliable supplier of
military aerostructures, and specialty high-temperature materials,
enabling warfighters to execute complex, critical missions. Spirit
also serves the aftermarket for commercial and business/regional
jets. Headquartered in Wichita, Kansas, Spirit has facilities in
the U.S., U.K., France, Malaysia and Morocco. More information is
available at www.spiritaero.com.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains "forward-looking statements" that
may involve many risks and uncertainties. Forward-looking
statements generally can be identified by the use of
forward-looking terminology such as "aim," "anticipate," "believe,"
"could," "continue," "estimate," "expect," "goal," "forecast,"
"intend," "may," "might," "objective," "outlook," "plan,"
"predict," "project," "should," "target," "will," "would," and
other similar words, or phrases, or the negative thereof, unless
the context requires otherwise. These statements reflect
management's current views with respect to future events and are
subject to risks and uncertainties, both known and unknown. Our
actual results may vary materially from those anticipated in
forward-looking statements. We caution investors not to place undue
reliance on any forward-looking statements. Important factors that
could cause actual results to differ materially from those
reflected in such forward-looking statements and that should be
considered in evaluating our outlook include, without limitation,
the impact of the COVID-19 pandemic on our business and operations;
the timing and conditions surrounding the full worldwide return to
service (including receiving the remaining regulatory approvals) of
the B737 MAX, future demand for the aircraft, and any residual
impacts of the B737 MAX grounding on production rates for the
aircraft; our reliance on Boeing for a significant portion of our
revenues; our ability to execute our growth strategy, including our
ability to complete and integrate acquisitions; our ability to
accurately estimate and manage performance, cost, and revenue under
our contracts; demand for our products and services and the effect
of economic or geopolitical conditions in the industries and
markets in which we operate in the U.S. and globally; our ability
to manage our liquidity, borrow additional funds or refinance debt;
and other factors disclosed in our filings with the Securities and
Exchange Commission. These factors are not exhaustive and it is not
possible for us to predict all factors that could cause actual
results to differ materially from those reflected in our
forward-looking statements. These factors speak only as of the date
hereof, and new factors may emerge or changes to the foregoing
factors may occur that could impact our business. Except to the
extent required by law, we undertake no obligation to, and
expressly disclaim any obligation to, publicly update or revise any
forward-looking statements, whether as a result of new information,
future events, or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20220531005668/en/
Sierra Space Alex Walker (303) 803-2297
alex.walker@sncorp.com Eric Becker ICR for Sierra Space (303)
638-3469 sierraspace@icrinc.com
Spirit AeroSystems, Inc.Investor Relations: (316)
523-7040 Ryan Avey, ryan.d.avey@spiritaero.com Aaron Hunt,
aaron.w.hunt@spiritaero.com
Media: Forrest Gossett (316) 803-2975
forrest.s.gossett@spiritaero.com
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