Rocket Lab indicators launch contract with Kinéis European IoT satellites
An electron rocket is getting ready to take off.
Rocket Lab has signed a five-launch contract with European satellite data company Kinéis, adding to the space company’s backlog.
Kinéis is building a constellation for the Internet of Things with 25 satellites, all of which will be launched into orbit by Rocket Lab’s Electron vehicle. The Kinéis missions are scheduled to start in the second quarter of 2023.
“It’s a very demanding customer, a very demanding spacecraft with really tough requirements … Electron’s proven orbital accuracy and insertion make it possible to launch this constellation like this,” Rocket Lab CEO Peter Beck told CNBC.
The Kinéis deal is the most recent multi-launch win for Rocket Lab, as the company announced a five-launch deal with satellite imagery company BlackSky earlier this year – and Beck sees a trend towards bulk buying launches.
“We see this as ongoing and more news will follow,” Beck told CNBC.
The company will ring the Nasdaq bell from its headquarters on August 25, 2021.
Rocket Lab also released its second quarter results after the market closed on Wednesday, the company’s first quarterly report since going public late last month.
The company had sales of $ 29.5 million for the second quarter ended June 30.
Rocket Lab shares rose up to 7% in after-hours trading from their closing price of $ 15.09. The stock is up nearly 45% since it went public on Aug. 25.
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