Momentus Completes All Requirements of the National Security Agreement (NSA)
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The termination of the National Security Agreement (NSA) between Momentus Inc. and the Committee on Foreign Investment in the United States (CFIUS) signifies a critical juncture for the company. This development can potentially open up new business opportunities and partnerships, particularly as it removes a layer of government oversight that may have been perceived as a barrier to some clients, especially in the sensitive domain of space infrastructure and defense.
Investors and stakeholders should note that such a clearance might lead to an enhanced perception of credibility and security around Momentus' operations, which could positively influence the stock's attractiveness. Moreover, the company's collaboration with the Space Development Agency and its focus on defense applications could signal a strategic pivot towards lucrative government contracts, which often provide stable, long-term revenue streams.
However, it's essential to monitor how the market reacts to this news, as the stock price movement will provide an indicator of investor sentiment regarding the company's future growth prospects post-NSA termination.
The successful completion of the NSA terms and subsequent approval from CFIUS is a testament to Momentus' commitment to national security and compliance with U.S. regulations. This milestone is particularly significant in the aerospace industry, where national security concerns are paramount and the regulatory environment is stringent.
Momentus' technology, such as the water-propellant spacecraft engine and flexible solar cell technology, positions the company at the forefront of innovation within the industry. The ability to deploy customer payloads and provide hosted services is indicative of operational capabilities that are essential for sustained growth and competitiveness in the commercial space sector.
With the NSA restrictions lifted, Momentus may now be able to engage more freely in international partnerships, subject to export controls, which could accelerate its global expansion and diversification of its client base. The aerospace industry will be watching closely to see how this regulatory milestone affects Momentus' market position and its ability to capitalize on emerging opportunities in space commerce.
The emphasis on increased cybersecurity measures and the overhaul of the export control program as part of the NSA terms underscores the importance of robust security protocols in the space technology sector. The external audits and divestment actions taken by Momentus to comply with the NSA demonstrate a proactive approach to cybersecurity and export compliance, which is critical given the sensitive nature of the technologies involved.
For stakeholders, the company's ability to meet and validate these stringent requirements can be seen as a positive indicator of its operational maturity and risk management capabilities. It also suggests that Momentus is well-prepared to handle the intricate compliance landscape that comes with serving both commercial and defense sectors.
Long-term, the company's rigorous approach to security and compliance could serve as a competitive advantage, potentially reducing the risk of future regulatory hurdles and fostering trust among clients and partners in an industry where data security and technology protection are of the utmost importance.
NSA Terminated by Committee on Foreign Investment in
“The end of the CFIUS process is an enormous positive step for Momentus that culminates more than two years of intensive work by everyone in the Company. I am incredibly appreciative not just of all of their efforts, but also of the
“Over the course of the past two and half years, Momentus worked closely with the CFIUS Monitoring Agencies to implement a National Security Agreement. Third-party monitoring and validation occurred throughout to assess effectiveness and develop a record of performance,” said Momentus Chief Security Officer Jason Garkey. “This close collaboration included divestment of the original foreign Chief Executive Officer and investors; implementing, monitoring and testing increased cybersecurity measures; and a complete zero-based review and improvement of the Company’s export control program. External audits provided further confirmation that we established effective systems worthy of external scrutiny. The CFIUS process required Momentus to mature its business procedures much faster than a typical early-stage company and accelerated capability development. We view this achievement as a significant milestone and confirmation of the Company’s commitment to national security.”
Momentus has flown four missions, deployed 17 customer payloads, and provided hosted payload services. Last year, the Company completed initial in-space testing of its pioneering spacecraft engine that uses water as a propellant and a new kind of solar array that utilizes flexible solar cell technology. Momentus is currently working with the Space Development Agency on a Small Business Innovation and Research Contract to modify its Vigoride spacecraft for defense applications. The Company also offers its M-series satellite buses built on Vigoride’s flight-proven technology.
About Momentus
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Forward-Looking Statements
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.
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