Launch targeted in January 2024
SAN JOSE, Calif.--(BUSINESS WIRE)--Jun. 5, 2023--
Momentus Inc. (NASDAQ: MNTS) ("Momentus" or the "Company"), a U.S. commercial space company that offers orbital transportation and in-space infrastructure services, has signed an agreement with Apogeo Space to provide orbital transportation services for nine satellites that are part of Apogeo’s planned 100-satellite Internet of Things (IoT) constellation.
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Apogeo Space aims to build a constellation of picosatellites capable of providing connectivity to IoT devices globally. The delivery with Momentus represents the second batch of nine satellites and another key step toward the creation of the 100-satellite network. The constellation is scheduled to enter service by the second half of 2023.
“We are thrilled to start this collaboration with Momentus, which will allow us to launch an additional nine picosats shortly and permit us to anticipate our road map of the deployment of a global telecommunication service for the Internet of Things,” said Apogeo CEO and co-founder Guido Parissenti. “Since our first deployment of satellites, data can be retrieved from IoT devices anywhere in the world. We anticipate full coverage will be achieved by 2027 with almost 100 satellites with successive launches approximately every 3 months.”
“IoT satellites are a model of using space to benefit life on Earth,” said Momentus Chief Commercial Officer Chris Kinman. “Use of the Momentus Orbital Service Vehicle is an efficient and effective way to support the deployment of large satellite constellations like Apogeo’s. We look forward to supporting them as they work toward full deployment of their constellation.”
Momentus is a U.S. commercial space company that offers in-space infrastructure services, including in-space transportation, hosted payloads and in-orbit services. Momentus believes it can make new ways of operating in space possible with its planned in-space transfer and service vehicles that will be powered by an innovative water plasma-based propulsion system.
About Apogeo Space
Apogeo Space is an innovative Italian SME focused on building a constellation of satellites to provide a global telecommunication service for the Internet of Things (IoT), connecting low power and low datarate devices located in remote or poorly connected areas. Sectors of applications are agri-tech, smart cities, infrastructures monitoring (e.g.: water, oil & gas, electrical), maritime transportation and transport/logistic in general, environmental monitoring (e.g.: wildfires, contaminant spillage), cattle management, research and many more. The company is also involved in other R&D activities in the space sector, particularly on nanosatellites and cubesats. Active since 2015, it has contributed to the development of major projects by ESA (European Space Agency), ASI (Italian Space Agency) and NASA, often in collaboration with major research institutions including INAF (National Institute of Astrophysics), INFN (National Institute of Nuclear Physics), Brera Astronomical Observatory, Bologna Astronomical Observatory and Milan Polytechnic University.
This press release contains certain statements which may constitute “forward-looking statements” for purposes of the federal securities laws. Forward-looking statements include, but are not limited to, statements regarding Momentus or its management team’s expectations, hopes, beliefs, intentions or strategies regarding the future, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, and are not guarantees of future performance. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of Momentus’ control. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to risks and uncertainties included under the heading “Risk Factors” in the Annual Report on Form 10-K filed by the Company on March 8, 2023, 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 investors.momentus.space. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
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Source: Momentus Inc.