Momentus Space is a U.S. commercial space company that aims to provide in-space infrastructure services, including transportation, hosted payloads, and in-orbit services. They are developing orbital service vehicles, like Vigoride, powered by a water plasma-based propulsion system, to carry satellites and payloads between different orbits. Momentus is partnering with companies like Solstar Space and Velo3D, and has contracts with organizations like the U.S. Air Force.
All verified mentions of this organization in source documents.
The launch services agreement between Momentus and DISCO was signed earlier 2021 and targets a mid-2022 launch.
Momentus, Stable Road, and Stable Road CEO Brian Kabot agreed to pay more than $8,000,000 in penalties related to false claims by Momentus and alleged failures of due diligence by Stable Road.
Either the tested third-generation MET thruster or a newer, easier-to-manufacture version will be used on Momentus’ first Vigoride mission, which is expected in June 2022 pending regulatory approvals.
Momentus stated in its S-4 registration that El Camino Real produced data demonstrating the thruster system could produce thrust despite problems with a pump designed to send water into the thruster chamber.
Momentus plans to begin offering in-space transportation services on future missions as soon as October 2022 if the hybrid demo is successful.
Momentus reached a national security agreement with the U.S. Defense Department and U.S. Treasury Department on 2021-06-09.
Momentus is testing a third-generation MET thruster and reported that the thruster completed 350 cycles in an ongoing life cycle test as of 2021-07-29.
Momentus claimed that its water plasma (microwave electro-thermal, MET) thrusters were successfully tested in 2019 on the experimental cubesat El Camino Real.
When Stable Road announced the merger with Momentus in October 2020, $172,500,000 was expected from Stable Road’s proceeds and $175,000,000 was expected from the concurrent PIPE round.
The SEC settlement included $7,000,000 in penalties against Momentus and $1,000,000 in penalties against Stable Road.
Stable Road will hold a shareholders’ meeting on 2021-08-11 to vote to approve the merger with Momentus, according to an amended S-4 registration statement filed 2021-07-19.
Momentus will pay a $7,000,000 fine as part of its settlement with the SEC.
On 2021-07-13, the U.S. Securities and Exchange Commission reached a settlement with Momentus and Stable Road Acquisition Corporation and imposed more than $8,000,000 in penalties and other conditions on Momentus and its merger with Stable Road.
Momentus launched an experimental cubesat named El Camino Real in July 2019 to test its water plasma propulsion technology, also known as microwave electro-thermal (MET) thrusters.
Stable Road renegotiated the Momentus merger on 2021-06-29 and reduced Momentus’s valuation by half to $566,600,000.
Five companies that announced SPAC deals between October 2020 and March 2021—BlackSky, Momentus, Redwire, Rocket Lab, and Spire—are scheduled to close their deals later in 2021.
Momentus co-founders Mikhail Kokorich and Lev Khasis sold their stakes in the company in June for $50,000,000.
Momentus asserts that it successfully tested the water plasma thruster propulsion system on a cubesat launched in 2019.
The original merger agreement announced in October 2020 valued Momentus at more than $1,100,000,000 once the deal closed.
Momentus’s long-term revenue projection was revised from more than $4,000,000,000 by 2027 to just under $2,200,000,000 in 2027.