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 Federal Aviation Administration rejected a payload review in May for two Vigoride tugs that Momentus planned to launch on the SpaceX Transporter-2 rideshare mission due to national security concerns.
Momentus’s revenue projections were revised from $12,000,000 in 2021 and $104,000,000 in 2022 to no revenue in 2021 and $5,000,000 in 2022.
Momentus’s backlog dropped from $90,000,000 in 2020-11-01 to $66,000,000 as of 2021-06-11.
Stable Road required Momentus to reimburse Stable Road for half of all merger-related costs incurred going forward up to $1,500,000 under the revised merger terms.
Negar Feher is the Vice President of Product and Business Development at Momentus.
Mikhail Kokorich and Lev Khasis are completely divested from Momentus as of 2021-06-09.
Momentus signed a national security agreement with the U.S. Defense Department and Treasury Department on 2021-06-09.
Momentus and Stable Road Acquisition Corporation announced a merger in October 2020 that provided Momentus with $310,000,000 in cash and valued the company at $1,200,000,000.
Stable Road Acquisition Corporation faced a 2021-05-13 deadline to complete its merger with Momentus or liquidate the special purpose acquisition company.
Lockheed Martin removed Momentus from a NASA-funded technology demonstration mission that Lockheed was awarded in October 2020.
The Federal Aviation Administration denied Momentus’ payload review for a planned launch on SpaceX’s Transporter-2 mission on 2021-05-11 based on a finding that the launch would jeopardize U.S. national security.
Momentus missed the opportunity to launch its first tug Vigoride-1 on SpaceX’s Transporter-1 rideshare mission in January because it could not complete a Federal Aviation Administration Office of Commercial Space Transportation payload review in time.
Momentus will implement increased security measures and hire personnel to provide additional oversight as part of the national security agreement.
Fred Kennedy is the President of Momentus Space.
Momentus plans to raise $310,000,000 to support its Vigoride service by merging with a special-purpose acquisition company.
Momentus and some other Starburst portfolio companies that are not space-related are on course to raise significant sums 2021 by going public through mergers with special purpose acquisition companies.
Shareholders in Stable Road Acquisition Corporation approved an extension on 2025-05-13 to complete the SPAC merger with Momentus following delays caused by U.S. government reviews over foreign ownership concerns.
Momentus spent months addressing foreign ownership concerns raised early 2021 by the U.S. Defense Department.
On 2021-05-11, the Federal Aviation Administration denied Momentus’ payload review application for flying its first two tugs on a SpaceX rideshare launch scheduled in June.
In March, Mikhail Kokorich and Brainyspace LLC, a firm owned by Momentus co-founder Lev Khasis and his wife, agreed to divest their shares within three years.