ABL Space Systems
A California company that hasn’t even tried to launch a rocket has signed a major deal with Lockheed Martin for dozens of missions over the next decade.
According to the terms of the bulk purchase agreement between ABL Space Systems and Lockheed, the aerospace giant will buy “up to” 26 launches by 2026 and up to 32 additional launches by 2029. If the terms are met, this will represent 58 launches in the the next eight years for ABL Space. In an industry where even a single launch contract usually produces a press release, a contract for five dozen launches is unprecedented for a private company.
ABL Space officials declined to offer specific financial terms for the deal. However, ABL said the contract comes with a “significant” minimum commitment starting in 2022, in addition to additional options paid in each future year.
“This deal provides significant value to GLA,” said Harry O’Hanley, the company’s co-founder and chief executive, to Ars. “In terms of our business, the contract provides a consistent source of demand from one of the biggest players in the the civil and defense space industries to anchor our manifesto in the coming years. “
The partnership will allow Lockheed, which builds a large number of satellites for commercial customers, frequent and low-cost access to space. It is perhaps not surprising that Lockheed selected ABL Space for its small launch needs, as Lockhead was one of the first investors in the launch company during an early phase in 2019 and continued to participate in additional fundraising rounds. . ABL has raised a total of $ 219 million to date.
“They are not our biggest investor, but they are in the top ten,” said Dan Piemont, co-founder and president of ABL Space, about Lockheed. “I think it is fair to say that the business relationship is much more significant than the investment relationship, but we absolutely appreciate having them involved in GLA in both roles.”
Before ABL Space can fulfill this contract, of course, it has to demonstrate that it can reach orbit. The company based in El Segundo, California, is developing a rocket called RS1 with the capacity to launch 1.35 metric tons into low Earth orbit. The first stage of the rocket is powered by nine E2 engines, which burn liquid oxygen and kerosene, and each produces 13,000 pounds of thrust. In that sense, the vehicle is something like a miniature Falcon 9 rocket. It has a base price of $ 12 million per flight.
The company originally hoped to launch during the first half of 2021, but O’Hanley said “external factors” are still coming together for this first mission. ABL now targets the third quarter of this year. The company uses a mobile launch system that can be packaged in shipping containers and delivered in trailers. This offers the flexibility to launch from multiple locations, but for now, the initial flight of the RS1 will take place from the Launch Complex-576E at Vandenberg Air Force Base, a few hours north of the company’s headquarters.
The company has started building its first five rockets and wants to launch three launches this year – and eight or more in 2022. This is an ambitious goal, as several months to an entire year have historically passed between the initial test flight of a rocket and subsequent missions.
ABL developed RS1 and its production resources with rapid growth in mind. O’Hanley said the company could produce a complete set of RS1 fuel tanks in about three weeks, and ABL is developing a high-cadence engine test site at the Mojave Air & Space Port. This is how you expect to scale the operations to meet the numbers provided for in the contract with Lockheed.
“We take the sizing challenge seriously and have a clear roadmap,” said O’Hanley.