Surge in customer demand and headcount growth drives expansion that is expected to more than double Rocket Lab’s presence in the nation’s second largest space economy
Rocket Lab USA, Inc. (“Rocket Lab” or the “Company”) (Nasdaq: RKLB), a leading launch provider and space systems company, has announced today it will open a new space systems complex in Littleton, Colorado to support growing customer demand for flight software, mission simulation, and Guidance, Navigation and Control (GNC) services.
The new complex expands on Rocket Lab’s existing footprint in Colorado, which was established in October 2021 with the acquisition of Advanced Solutions, Inc. (ASI), an aerospace engineering firm that develops industry-leading software and technology solutions for reliable space mission design and operation. ASI’s off-the-shelf spacecraft flight software, MAX, has been operating across 49 spacecraft for a cumulative 135 years in space supporting missions for leading aerospace prime contractors, the U.S. Air Force, U.S. DOD organizations, NASA, and commercial spacecraft developers.
The new complex will be established near Rocket Lab’s existing 15,000 sq ft location on Shaffer Parkway in Littleton and will add 40,000 sq ft of new lab, production, and office space. The complex is expected to be completed by late 2022 and will include two mission operations centers. The expansion will also support team growth, with Rocket Lab’s Colorado headcount expected to double to more than 120 people by early 2023 with roles spanning flight software development, GNC, spacecraft simulation, and systems engineering.
“After welcoming ASI to the Rocket Lab family late last year, we are incredibly excited to expand our Colorado footprint, grow the team, expand our engineering capabilities, and further enhance our space systems portfolio to meet growing customer demand,” said Rocket Lab founder and CEO, Peter Beck. “As an end-to-end space company, we can support every phase of our customer’s missions from initial spacecraft design, manufacture, and test, right through to launch and on-orbit operation. Flight software is a vital part of every space mission and with our new complex and expanded team, we can build on ASI’s strong heritage to deliver industry-leading flight software products to our global customers at scale.”
In addition to the 49 spacecraft already operating MAX Flight Software, Rocket Lab’s Colorado-based team is supporting development for a range of upcoming missions, including the Company’s upcoming CAPSTONE mission to the Moon and ESCAPADE mission to Mars for NASA featuring Rocket Lab Photon spacecraft.
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, spacecraft components, satellites and other spacecraft 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 and the Photon satellite platform and is developing the Neutron 8-ton payload class launch vehicle. 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 109 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, one of which is currently operational, and a second launch site in Virginia, USA which is expected to become operational in 2022. To learn more, visit www.rocketlabusa.com.
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. 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, satellites 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 timeframe 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 the prospectus dated October 7, 2021 related to our Registration Statement on Form S-1 (File No. 333-259757), which was filed with the Securities and Exchange Commission pursuant to Rule 424(b) on October 7, 2021 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.
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