contract

Rocket Lab employs vertical integration strategy to secure $515M government satellite deal

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The Space Development Agency is the mystery customer behind Rocket Lab’s up-to $515 million, 18-satellite order announced in late December, the two firms announced today. In a regulatory filing from December 21, Rocket Lab said it would “design, manufacture, deliver and operate 18 space vehicles” for an unnamed U.S. government customer. Under the contract, Rocket Lab will deliver and operate a prototype constellation in two orbital planes of nine satellites each. Rocket Lab will not be providing the communications payload, and company executives declined to name that provider during a press release Monday. “We welcome Rocket Lab as the newest member of Team SDA and our third performer on the T2TL- Beta program,” said Derek Tournear, SDA director.

Terran Orbital’s Top Client Nears Funding Deal for Multibillion-Dollar Constellation Venture

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Terran Orbital may be close to receiving a major payment from its biggest customer, CEO Marc Bell announced internally at a company-wide meeting earlier this month. While Terran is pursuing other lucrative contracts that could comprise billions in work, its $2.4 billion contract with Rivada is by far the largest it has secured so far. Earlier this quarter, Terran had to adjust its full-year financial outlook after Rivada delayed paying an incremental $180 million toward that total contract award. “I had dinner with [Rivada CEO] Declan Ganley last week in DC,” Bell told staff during the meeting, a recording of which was obtained by TechCrunch. As of November, Terran reported a backlog of future work of $2.6 billion, of which $2.4 billion is from the Rivada contract.