Momentus Inc Stock Price, News & Analysis

Momentus Inc. (NASDAQ: MNTS) has secured a contract with FOSSA Systems to launch its FOSSASat FEROX satellites into low-Earth orbit via two Vigoride missions in 2023. The first launch, scheduled for June 2023, will feature new design capabilities. This partnership builds upon FOSSA's existing 13-picosatellite constellation, aiming to deploy an 80-satellite network by 2024 to enhance low-power IoT services globally. CEO John Rood expressed confidence in fostering a long-term collaboration with FOSSA for future satellite deployments.

Momentus Inc. (NASDAQ: MNTS) announced that its Vigoride-5 Orbital Service Vehicle, launched on January 3 via SpaceX's Transporter-6 mission, is operational. The company is actively commissioning the vehicle for on-orbit services and has requested a Special Temporary Authority to enhance UHF beacon tracking for an additional 14 days. Initial data shows the vehicle's solar arrays are working well, generating power within expected ranges. Momentus focuses on in-space transportation and infrastructure services, leveraging innovative propulsion systems.

Momentus Inc. (NASDAQ: MNTS) announced key leadership appointments, with Chris Kinman joining as Chief Commercial Officer on January 9 and Dennis Mahoney serving as Interim Chief Financial Officer from January 7. Both leaders bring extensive experience in their fields, with Kinman previously at Northrop Grumman focusing on business development in the defense and space sectors, and Mahoney having over 40 years in financial strategy and operations across various industries. The company aims to capitalize on growing demand for in-space transportation and infrastructure services.

Momentus Inc. (NASDAQ: MNTS) successfully launched its Vigoride Orbital Service Vehicle (OSV) on SpaceX's Transporter-6 mission, marking its second demonstration flight. The vehicle has established contact and confirmed the deployment of solar arrays, generating power. The Vigoride OSV aims to provide advanced in-space transportation services using a Microwave Electrothermal Thruster (MET) that utilizes water as a propellant. This flight will host payloads from Caltech and Qosmosys while testing the vehicle's performance, including its MET system.

Momentus Inc. (NASDAQ: MNTS) concludes 2022 with notable achievements, including its first successful mission and the delivery of eight customer payloads to orbit. The company expanded its service offerings, signed new agreements with NASA and other clients, and advanced technology for its Vigoride Orbital Service Vehicle. Looking forward, Momentus has secured Launch Services Agreements with SpaceX for multiple rideshare missions in 2023 and aims to continue innovating its technology to enhance in-space transportation and infrastructure services.

Momentus Inc. (NASDAQ: MNTS), a U.S. commercial space company, announced the granting of inducement awards to 10 new employees, consisting of 433,447 restricted stock units (RSUs) worth approximately $0.51 million. The awards were authorized by Momentus' Compensation Committee to incentivize new hires. The RSUs feature a three-year quarterly or a four-year annual vesting schedule, contingent upon the employees' continued service. This strategic move is part of Momentus' efforts to bolster its workforce as it aims to expand its in-space infrastructure services.

Momentus Inc. (NASDAQ: MNTS) has entered an agreement with the Australian Research Council Training Centre for CubeSats, Uncrewed Aerial Vehicles, and their Applications (CUAVA) to transport the Waratah Seed WS-1 CubeSat to low-Earth orbit in October 2023. This mission aims to provide space access for NSW-based Australian space startups to demonstrate their technologies. The Waratah Seed mission is supported by the NSW Government and is Australia's first rideshare initiative, set to deliver a 6U CubeSat platform for testing in low-Earth orbit.

Momentus Inc. (NASDAQ: MNTS) has signed a significant contract with CONTEC Co. to provide space transportation services for the JINJUSat-1 CubeSat in South Korea. The satellite, backed by Jinju City, Korea Testing Laboratory, and Gyeongsang National University, is scheduled to launch on the SpaceX Transporter-9 mission in October 2023. This collaboration aims to enhance the South Korean space industry's capabilities and infrastructure. Momentus is committed to supporting the local space economy and fostering growth in this innovative sector.