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Redwire will provide Momentus with high value to deploy near-term missions and opportunities for continued collaboration as Momentus evolves its future roadmaps.
The agreement between Momentus and Redwire builds on a Memorandum of Understanding that was announced in September 2020.
The multi-phase contract between Momentus and Redwire includes a system architecture study and delivery of a flight-qualified robotics system that will operate on a flight demonstration in 2022.
Redwire will collaborate with Momentus to develop a reusable in-space transportation vehicle.
Momentus is delaying its first operational mission, Vigoride-1, that was to fly on a SpaceX Falcon 9 later 2021-01 to later in the year because it was unable to obtain Federal Aviation Administration approval following an incomplete interagency review.
SatRevolution, a customer previously scheduled on Momentus’ January 2021 mission, regards Momentus as a valued resource for commercialization of space and as providing a value-add transport and service platform.
Momentus reaffirms its expectation of 2021 revenue as detailed in its December 2020 investor presentation in conjunction with a previously announced merger agreement with Stable Road Acquisition Corp. (NASDAQ: SRAC).
The FAA did not express any specific concerns and required more time to complete its interagency review of Momentus’ payload for the Vigoride-1 mission.
In an investor presentation filed with the SEC on 2020-12-14, Momentus projected revenues of $20,000,000 and a net loss of $46,000,000 for 2021.
Momentus anticipates that launching its first Vigoride vehicle on a subsequent mission will allow the company to achieve its 2021 revenue expectations while delivering customers’ payloads to orbit.
Momentus will continue to work with the Federal Aviation Administration to obtain approval for its payloads.
One customer, SatRevolution, committed to continue working with Momentus on the Vigoride-1 mission despite the launch delay.
Momentus entered a planned merger with Stable Road Acquisition Corporation that would make Momentus a publicly traded company with an estimated valuation of $1,200,000,000 and with $310,000,000 in cash.
Momentus announced in October that it would merge with a special-purpose acquisition company, with the deal still in the process of closing.
Under the agreement, Momentus will gain access to low inclination and equatorial orbits using Gilmour Space’s Eris launch services.
Momentus sealed an agreement to launch Skykraft’s satellite in 2021.
Gran Systems shipped and delivered NUTSAT to Momentus at the same hour Momentus made a major investor-relations announcement.
Momentus Inc. and Gran Systems signed a service agreement for Gran Systems’ 2U CubeSat NUTSAT to fly on Momentus’ December 2020 Vigoride demo mission.
Momentus purchased rides on five SpaceX Falcon 9 rideshare missions in 2020 and 2021 to demonstrate Vigoride’s ability to move customer satellites 300 to 1,200 km beyond the drop-off point.
Momentus Space and Kepler Communications agreed on 2020-10-20 to arrange the 2021 launch of two Kepler satellites on a SpaceX Falcon 9 rideshare flight and delivery to their desired orbital altitude using the Vigoride in-space transportation vehicle.