LONG BEACH, Calif.--(BUSINESS WIRE)--Oct 4, 2023--
Rocket Lab USA, Inc. (Nasdaq: RKLB) (“Rocket Lab” or “the Company”), a global leader in launch services and space systems, today officially opened the Company’s new Engine Development Center in Long Beach, California.
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Rocket Lab Engine Development Center official opening in Long Beach. L to R: Long Beach Councilwoman Megan Kerr, Rocket Lab CFO Adam Spice, Long Beach Mayor Rex Richardson, California State Senator Lena Gonzalez. (Photo: Business Wire)
The 144,000+ square foot advanced manufacturing complex will support the high-rate production of Rocket Lab’s 3D printed Rutherford engine, as well development and production for the new Archimedes engine that will power the Company’s new medium-lift rocket, Neutron. The facility was formerly Virgin Orbit’s headquarters and factory for the Launcher One vehicle. Rocket Lab took over the lease for the facility and acquired the factory’s production assets, machinery, and equipment in May 2023 for $16.1 million, generating significant savings for the Neutron’s production program.
“We are proud and excited to continue growing our Long Beach team and footprint by increasing production of our advanced rocket engines right here in space beach,” said Rocket Lab Founder and CEO Peter Beck. “This Engine Development Center builds on the legacy of the Rutherford engine and signals a new era at Rocket Lab with the development of Archimedes, our new large LOx/methane engine which will power the reusable Neutron rocket. By co-locating our Engine Development Center near our Long Beach headquarters and production complex, we’ve maximized collaboration between our engineering and manufacturing to ensure streamlined efficiency as we continue ramping up Electron launch cadence and get closer to Neutron’s debut launch.”
The Engine Development Center was officially opened by Long Beach Mayor Rex Richardson. “I am proud to welcome and celebrate Rocket Lab’s new state-of-the-art Engine Development Center here to Long Beach,” said Mayor Rex Richardson. “By choosing Long Beach for this new expansion, it further cements our role as a nationally significant hub of space technology and manufacturing.”
After being manufactured at the Engine Development Center, the completed Archimedes engines will undergo testing at NASA’s historic Stennis Space Center in Mississippi where Rocket Lab is establishing a dedicated test facility at the A-3 Test Stand. From there, the Archimedes engines will be integrated onto the Neutron launch vehicle in preparation for lift-off from Rocket Lab’s Launch Complex 3 at Virginia Spaceport Authority’s Mid-Atlantic Regional Spaceport within NASA’s Wallops Flight Facility in Virginia. Rutherford engines complete testing in New Zealand before integration onto Electron and launch from Rocket Lab’s two Electron launch sites; Launch Complex 1 in New Zealand and Launch Complex 2 in Virginia.
+ 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 171 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.
+ Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward looking statements contained in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding our launch and space systems operation, launch schedule and window, safe and repeatable access to space, Neutron development, operational expansion and business strategy are forward-looking statements. All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding our launch and space systems operation, launch schedule and window, safe and repeatable access to space, Neutron development, operational expansion, business strategy, and expectations relating to our financial condition, results of operations, plans, objectives and future performance are forward-looking statements. The words “believe,” “may,” “will,” “estimate,” “potential,” “continue,” “anticipate,” “intend,” “expect,” “strategy,” “future,” “could,” “would,” “project,” “plan,” “target,” and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to the factors, risks and uncertainties included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022, as such factors may be updated from time to time in our other filings with the Securities and Exchange Commission (the “SEC”), accessible on the SEC’s website at www.sec.gov and the Investor Relations section of our website at www.rocketlabusa.com, which could cause our actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.
View source version on businesswire.com:https://www.businesswire.com/news/home/20231004377821/en/
CONTACT: + Rocket Lab Media Contact
Morgan Bailey
media@rocketlabusa.com
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: TECHNOLOGY AEROSPACE MANUFACTURING SATELLITE
SOURCE: Rocket Lab USA, Inc.
Copyright Business Wire 2023.
PUB: 10/04/2023 04:30 PM/DISC: 10/04/2023 04:29 PM
http://www.businesswire.com/news/home/20231004377821/en
