LONG BEACH, Calif.--(BUSINESS WIRE)--Rocket Lab USA, Inc. (Nasdaq: RKLB) (“Rocket Lab” or “the Company”), a global leader in launch services and space systems, today announced it has signed a deal to launch the LEO 3 satellite for global satellite operator Telesat (Nasdaq and TSX: TSAT) on an Electron mission scheduled for Q3, 2023. The satellite has been built and manifested to Electron by mission management provider and satellite developer Space Flight Laboratory (SFL) of Toronto.
The LEO 3 demonstration satellite will provide continuity for customer and ecosystem vendor testing campaigns following the decommissioning of Telesat’s Phase 1 LEO satellite. Once deployed to orbit, LEO 3 will operate under an existing ITU network filing for Telesat Lightspeed, the company’s enterprise-class LEO constellation.
The Electron mission that will carry the LEO 3 satellite is scheduled for lift-off from Rocket Lab Launch Complex 1 in New Zealand no earlier than Q3 2023. To meet Telesat’s program requirements, SFL has selected Rocket Lab to deliver the satellite to space on an accelerated timeline within four months of contract signing.
The launch of LEO 3 for Telesat and SFL follows the successful deployment of three satellites built by SFL for radio frequency data analytics company HawkEye 360, which launched on the first Electron mission of the year in January 2023.
Rocket Lab Senior Director of Global Launch Services Brian Rogers said: “As the only U.S. small rocket to successfully deliver satellites to orbit this year, Electron remains the undisputed small launch leader for reliable and regular satellite delivery to orbit. Whether it’s a dedicated or rideshare mission, our customers know they can rely on Electron to get their satellites delivered.”
“Electron was selected to launch LEO 3 given Rocket Lab’s ability to meet the mission’s special orbital requirements and the desire for rapid turnaround," says Dr. Robert Zee, Director, SFL. "As a complete mission provider, we are pleased to have been able to identify and secure this launch to meet Telesat's commercial needs."
+ About Rocket Lab
Founded in 2006, Rocket Lab is an end-to-end space company with an established track record of mission success. We deliver reliable launch services, satellite manufacture, spacecraft components, and on-orbit management solutions that make it faster, easier and more affordable to access space. Headquartered in Long Beach, California, Rocket Lab designs and manufactures the Electron small orbital launch vehicle, the Photon satellite platform and the Company is developing the large Neutron launch vehicle for constellation deployment. Since its first orbital launch in January 2018, Rocket Lab’s Electron launch vehicle has become the second most frequently launched U.S. rocket annually and has delivered 163 satellites to orbit for private and public sector organizations, enabling operations in national security, scientific research, space debris mitigation, Earth observation, climate monitoring, and communications. Rocket Lab’s Photon spacecraft platform has been selected to support NASA missions to the Moon and Mars, as well as the first private commercial mission to Venus. Rocket Lab has three launch pads at two launch sites, including two launch pads at a private orbital launch site located in New Zealand and a third launch pad in Virginia. To learn more, visit www.rocketlabusa.com.
+ About SPACE FLIGHT LABORATORY (SFL)
SFL generates bigger returns from smaller, lower cost satellites. Small satellites built by SFL consistently push the performance envelope and disrupt the traditional cost paradigm. Satellites are built with advanced power systems, stringent attitude control and high-volume data capacity that are striking relative to the budget. SFL arranges launches globally and maintains a mission control center accessing ground stations worldwide. The pioneering and barrier-breaking work of SFL is a key enabler to tomorrow’s cost-aggressive satellites and constellations. (www.utias-sfl.net)
+ FORWARD LOOKING STATEMENTS
This press release may contain certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on Rocket Lab’s current expectations and beliefs concerning future developments and their potential effects. These forward-looking statements involve a number of risks, uncertainties (many of which are beyond Rocket Lab’s control), or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including risks related to the global COVID-19 pandemic; risks related to government restrictions and lock-downs in New Zealand and other countries in which we operate that could delay or suspend our operations; delays and disruptions in expansion efforts; our dependence on a limited number of customers; the harsh and unpredictable environment of space in which our products operate which could adversely affect our launch vehicle and spacecraft; increased congestion from the proliferation of low Earth orbit constellations which could materially increase the risk of potential collision with space debris or another spacecraft and limit or impair our launch flexibility and/or access to our own orbital slots; increased competition in our industry due in part to rapid technological development and decreasing costs; technological change in our industry which we may not be able to keep up with or which may render our services uncompetitive; average selling price trends; failure of our launch vehicles, spacecraft and components to operate as intended either due to our error in design in production or through no fault of our own; launch schedule disruptions; supply chain disruptions, product delays or failures; design and engineering flaws; launch failures; natural disasters and epidemics or pandemics; changes in governmental regulations including with respect to trade and export restrictions, or in the status of our regulatory approvals or applications; or other events that force us to cancel or reschedule launches, including customer contractual rescheduling and termination rights; risks that acquisitions may not be completed on the anticipated time frame or at all or do not achieve the anticipated benefits and results; and the other risks detailed from time to time in Rocket Lab’s filings with the Securities and Exchange Commission (the “SEC”), including under the heading “Risk Factors” in Rocket Lab’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022, which was filed with the SEC on March 7, 2023, and elsewhere (including that the impact of the COVID-19 pandemic may also exacerbate the risks discussed therein). There can be no assurance that the future developments affecting Rocket Lab will be those that we have anticipated. Except as required by law, Rocket Lab is not undertaking any obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
