The Rocket Lab-built and jointly operated
Photon spacecraft will enable high-value products to be
manufactured in space and returned to Earth
Leading launch and space systems company Rocket Lab today
announced it has signed a deal with in-space manufacturing company
Varda Space Industries to produce three Photon spacecraft that will
integrate with their space factories, enabling high-value products
to be manufactured in zero-gravity and returned to Earth in Varda’s
re-entry capsule.
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the full release here:
https://www.businesswire.com/news/home/20210811005620/en/
Rocket Lab Photon Spacecraft on Orbit
(Photo: Business Wire)
Varda’s space-manufactured products are targeted at high-value
markets such as fiber optic cables, pharmaceuticals, and
semiconductors — all of which have higher performance when produced
in zero-gravity. After launch, Rocket Lab’s Photon will position
the spacecraft in an operational orbit and provide station keeping.
Photon will support Varda’s 120 kg manufacturing and re-entry
modules with power, data, and attitude control. All three Photon
spacecraft will also incorporate Rocket Lab-designed and built
spacecraft components, including radios, reaction wheels and star
trackers. Rocket Lab's Photon will perform multiple burns with the
3D-printed Curie engine, acting as a highly capable propulsion
system to place Varda's re-entry capsule on a return trajectory to
Earth.
Traditionally, almost all in-space manufacturing research has
been carried out on the International Space Station. This research
has demonstrated that innovative materials and products can be
created in the consistent microgravity environment of low-Earth
orbit, an environment that can’t be replicated on Earth. Until now,
manufacturing in orbit has been impossible to scale due to cost.
Building a space factory with a proven, Photon spacecraft — one
that doesn’t require human tending in orbit — will allow Varda to
make building products in space at scale a reality for the first
time.
“The Varda team is undertaking ground-breaking work that really
opens up new possibilities and markets for in-space manufacturing
and we couldn’t be more excited to make their mission possible with
Photon,” said Rocket Lab Founder and Chief Executive Officer, Peter
Beck. “Photon enables our customers to unlock the full potential of
space. It removes a massive barrier to the growing small satellite
market by delivering our customers a versatile and configurable
spacecraft platform that they don’t need to build themselves. Our
customers get to orbit faster and can focus purely on their mission
while there, rather than worrying about developing and operating a
spacecraft.”
Based in Torrance, California, Varda Space Industries was
founded by Will Bruey, who spent almost a decade working on
SpaceX’s Crew and Cargo Dragon spacecraft, and Delian Asparouhov, a
Principal at Peter Thiel’s Founders Fund. “We are excited to work
with Rocket Lab. Photon is a great fit for our mission and their
team has displayed significant engineering rigor. Working with them
will allow us to deliver on our aggressive schedule and tight
budget. We are one step closer to delivering valuable materials to
our clients here on Earth,” said Varda Space Industries Chief
Executive Officer, Will Bruey.
The first Varda Photon is planned for delivery in Q1 2023, with
the second to follow up later in the year and a third in 2024. The
contract, which is subject to standard termination provisions, also
includes an option for Varda to procure a fourth Photon. Each
mission has a nominal three-month duration from launch to
landing.
The Varda contract joins a growing list of Photon missions,
including the CAPSTONE lunar mission in support of NASA’s Artemis
program and a recently announced contract to design twin Photon
spacecraft in support of a NASA Mars mission. Rocket Lab currently
operates two existing Photon spacecraft on orbit. Launched in 2020
and 2021 respectively, the Photon First Light and Photon Pathstone
spacecraft demonstrated Rocket Lab’s end-to-end mission service,
encompassing satellite design and build, launch on Rocket Lab’s
Electron launch vehicle, and on-orbit operations.
About Photon
Photon is Rocket Lab’s flight proven, configurable spacecraft
tailored for missions ranging from low Earth orbit through to
planetary destinations. Photon is based on Rocket Lab’s heritage
Electron Kick Stage, leveraging numerous components that have
significant flight heritage, including the Curie engine, an
in-house designed and developed in-space propulsion system. Photon
evolves the Kick Stage by incorporating high-power generation,
high-accuracy attitude determination and control, enhanced
propulsion subsystems, and radiation-tolerant avionics to provide a
bundled launch-plus-satellite offering.
About Rocket Lab
Rocket Lab is a global leader in space, building rockets and
spacecraft that make it easier to get to orbit and to do amazing
things there. Founded in 2006, Rocket Lab provides end-to-end
mission services that provide frequent and reliable access to space
for civil, defense, and commercial markets. Headquartered in Long
Beach, California, Rocket Lab designs and manufactures the Electron
and Neutron launch vehicles and Photon satellite platform. Rocket
Lab’s Electron launch vehicle is the second most frequently
launched U.S. rocket annually and has delivered more than 100
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 and Vector Acquisition Corporation
(Nasdaq: VACQ), a publicly-traded special purpose acquisition
company, announced a proposed business combination in the first
quarter of 2021. The transaction is expected to be completed in the
third quarter of 2021. Upon closing, the combined company is
expected to remain listed on the Nasdaq with its common stock and
warrants trading under the new ticker symbols, “RKLB” and “RKLBW”,
respectively.
About Varda Space Industries
Varda is building space factories. It is currently the only
company aiming to operate entirely on commercial supply chains and
is well positioned to be the worldwide leader in commercial
microgravity manufacturing. The company plans to offer a wide array
of microgravity materials to its customers in the coming years,
partnering with forward-looking organizations committed to
improving quality of life and lowering costs for their
end-consumers.
For downloadable assets, please visit:
www.rocketlabusa.com/mediaimages.
Additional Information
This press release relates to a proposed transaction between
Rocket Lab USA, Inc. (“Rocket Lab”) and Vector Acquisition
Corporation (“Vector”). This press release does not constitute an
offer to sell or exchange, or the solicitation of an offer to buy
or exchange, any securities, nor shall there be any sale of
securities in any jurisdiction in which such offer, sale or
exchange would be unlawful prior to registration or qualification
under the securities laws of any such jurisdiction. Vector and
Rocket Lab filed a registration statement on Form S-4 with the U.S.
Securities and Exchange Commission (the “SEC”), which includes a
document that serves as a joint prospectus and proxy statement,
referred to as a proxy statement/prospectus. The proxy
statement/prospectus has been sent to all Rocket Lab and Vector
shareholders. Rocket Lab and Vector will also file other documents
regarding the proposed transaction with the SEC. Before making any
voting decision, investors and security holders of Rocket Lab and
Vector are urged to read the registration statement, the proxy
statement/prospectus and all other relevant documents filed or that
will be filed with the SEC in connection with the proposed
transaction as they become available because they will contain
important information about the proposed transaction.
Investors and security holders will be able to obtain free
copies of the registration statement, the proxy
statement/prospectus and all other relevant documents filed or that
will be filed with the SEC by Rocket Lab and Vector through the
website maintained by the SEC at www.sec.gov.
The documents filed by Vector with the SEC also may be obtained
free of charge upon written request to Vector Acquisition
Corporation, One Market Street, Steuart Tower, 23rd Floor, San
Francisco, CA 94105. The documents filed by Rocket Lab with the SEC
also may be obtained free of charge upon written request to Rocket
Lab USA, Inc., 3881 McGowen Street, Long Beach, CA 90808.
Participants in the Solicitation
Rocket Lab, Vector and their respective directors and executive
officers may be deemed to be participants in the solicitation of
proxies from Vector’s shareholders in connection with the proposed
transaction. A list of the names of such directors, executive
officers, other members of management, and employees, and
information regarding their interests in the proposed transaction
are contained in Vector’s filings with the SEC, including Vector’s
Annual Report on Form 10-K for the year ended December 31, 2020,
filed with the SEC on March 30, 2021, as amended by Amendment No. 1
on May 3, 2021, certain of its Current Reports filed on Form 8-K
and the definitive proxy statement/prospectus relating to the
proposed transaction filed on July 22, 2021, and such information
and names of Rocket Lab’s directors and executive officers is in
the definitive proxy statement/prospectus relating to the proposed
transaction filed on July 22, 2021. Additional information
regarding the interests of such potential participants in the
solicitation process are included in the registration statement
(and included in the proxy statement/prospectus) and other relevant
documents when they are filed with the SEC.
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 and Exchange Act of
1934, as amended, including statements regarding Vector’s, Rocket
Lab’s or their respective management teams’ expectations, hopes,
beliefs, intentions or strategies regarding the future. The words
“anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”,
“intends”, “may”, “might”, “plan”, “possible”, “potential”,
“predict”, “project”, “should”, “would” and similar expressions may
identify forward-looking statements, but the absence of these words
does not mean that a statement is not forward-looking. These
forward-looking statements are based on Rocket Lab’s current
expectations and beliefs concerning future developments and their
potential effects. Many factors could cause actual future events to
differ materially from the forward-looking statements in this press
release, including but not limited to: (i) the risk that the
proposed transaction with Vector may not be completed in a timely
manner or at all, (ii) the failure to satisfy the conditions to the
consummation of the proposed transaction with Vector, including the
adoption of the merger agreement governing the proposed transaction
by Vector’s shareholders, and (iii) the occurrence of any event,
change or other circumstance that could give rise to the
termination of the merger agreement. There can be no assurance that
the future developments affecting Rocket Lab will be those that we
have anticipated. These forward-looking statements involve a number
of risks, uncertainties (some 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. 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210811005620/en/
Rocket Lab Contact: Morgan Bailey, Director of
Communications media@rocketlabusa.com +64 27 538 9039
Varda Space Industries Contact: Delian Asparouhov,
Chairman and President media@varda.com
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