Rocket Lab Adds New HASTE Launch from Virginia for the Department of Defense’s Defense Innovation Unit

Rhea-AI Summary

Rocket Lab USA, Inc. (Nasdaq: RKLB) has signed a launch services agreement with the US Department of Defense’s Defense Innovation Unit (DIU) for a HASTE (Hypersonic Accelerator Suborbital Test Electron) mission from Rocket Lab Launch Complex 2 in Virginia. The HASTE mission will deploy a suborbital payload by Australian company Hypersonix called DART AE, a scramjet-powered hypersonic vehicle capable of flying non-ballistic flight patterns at speeds of up to Mach 7. This latest HASTE mission is the seventh suborbital launch contract awarded to Rocket Lab this year, showcasing their growing presence in the hypersonic testing space.

Positive

• Rocket Lab continues to secure high-profile contracts, demonstrating its strong position in the hypersonic testing market.
• The partnership with the US Department of Defense’s Defense Innovation Unit (DIU) further solidifies Rocket Lab's position as a key player in the space systems industry.

Negative

• None.

This latest dedicated HASTE contract is the seventh mission to be added this year to Rocket Lab’s suborbital launch manifest

LONG BEACH, Calif.--(BUSINESS WIRE)-- Rocket Lab USA, Inc. (Nasdaq: RKLB) (“Rocket Lab” or “the Company”), a global leader in launch services and space systems, today announced it has signed a launch services agreement with the US Department of Defense’s Defense Innovation Unit (DIU) for a HASTE (Hypersonic Accelerator Suborbital Test Electron) mission from Rocket Lab Launch Complex 2 in Virginia.

Rocket Lab's HASTE launch vehicle. Image Credit Austin Adams. (Photo: Business Wire)

The HASTE mission will deploy a suborbital payload by Australian company Hypersonix called DART AE, a scramjet-powered hypersonic vehicle capable of flying non-ballistic flight patterns at speeds of up to Mach 7 (approx. 8,350 kilometres / 5,320 miles per hour). The mission will launch from Rocket Lab’s dedicated launch site at the Virginia Spaceport Authority’s Mid-Atlantic Regional Spaceport on Wallops Island as early as Q1, 2025. The HyCat mission will demonstrate HASTE’s ‘direct inject’ capability by deploying the Hypersonix payload during ascent, while still within Earth’s atmosphere.

This latest HASTE mission is the seventh suborbital launch contract awarded to Rocket Lab this year, including Rocket Lab’s first HASTE mission launched on 17 June 2023 for Leidos under the Multi-Service Advanced Capability Hypersonic Test Bed (MACH-TB) program. Leidos has since signed on for four more HASTE missions to launch in 2024 and 2025. Another HASTE launch contract was also announced in August 2023 for a confidential customer.

The mission will be operated by Rocket Lab National Security (RLNS), the Company’s wholly owned subsidiary created to serve the unique needs of the U.S. defense and intelligence community and its allies. RLNS, along with Hypersonix, was earlier this year selected by the DIU as a program partner to the DIU’s hypersonic and high-cadence testing (HyCat) project, a program to accelerate potential hypersonic technologies and concepts.

Rocket Lab’s HASTE suborbital launch vehicle is derived from the Company’s Electron rocket but has been modified to support hypersonic payload deployment. By leveraging the heritage of Rocket Lab’s low-cost Electron – the world’s most frequently launched commercial small launch vehicle – HASTE offers true commercial testing capability at a fraction of the cost of current full-scale tests.

+ About Rocket Lab

Founded in 2006, Rocket Lab is an end-to-end space company with an established track record of mission success. We deliver reliable launch services, satellite manufacture, spacecraft components, and on-orbit management solutions that make it faster, easier and more affordable to access space. Headquartered in Long Beach, California, Rocket Lab designs and manufactures the Electron small orbital launch vehicle, the Photon satellite platform and the Company is developing the large Neutron launch vehicle for constellation deployment. Since its first orbital launch in January 2018, Rocket Lab’s Electron launch vehicle has become the second most frequently launched U.S. rocket annually and has delivered 171 satellites to orbit for private and public sector organizations, enabling operations in national security, scientific research, space debris mitigation, Earth observation, climate monitoring, and communications. Rocket Lab’s Photon spacecraft platform has been selected to support NASA missions to the Moon and Mars, as well as the first private commercial mission to Venus. Rocket Lab has three launch pads at two launch sites, including two launch pads at a private orbital launch site located in New Zealand and a third launch pad in Virginia. To learn more, visit www.rocketlabusa.com.

+ FORWARD LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward looking statements contained in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding our launch and space systems operation, launch schedule and window, safe and repeatable access to space, Neutron development, operational expansion and business strategy are forward-looking statements. All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding our launch and space systems operation, launch schedule and window, safe and repeatable access to space, Neutron development, operational expansion, business strategy, and expectations relating to our financial condition, results of operations, plans, objectives and future performance are forward-looking statements. The words “believe,” “may,” “will,” “estimate,” “potential,” “continue,” “anticipate,” “intend,” “expect,” “strategy,” “future,” “could,” “would,” “project,” “plan,” “target,” and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to the factors, risks and uncertainties included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022, 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 www.rocketlabusa.com, which could cause our actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231108422546/en/

+ Rocket Lab Media Contact

Murielle Baker

media@rocketlabusa.com

Source: Rocket Lab USA, Inc.

FAQ

What is the latest contract that Rocket Lab has secured?

Rocket Lab has secured a launch services agreement with the US Department of Defense’s Defense Innovation Unit (DIU) for a HASTE (Hypersonic Accelerator Suborbital Test Electron) mission.

What is the payload for the HASTE mission?

The HASTE mission will deploy a suborbital payload by Australian company Hypersonix called DART AE, a scramjet-powered hypersonic vehicle capable of flying non-ballistic flight patterns at speeds of up to Mach 7.

How many suborbital launch contracts has Rocket Lab secured this year?

This latest HASTE mission is the seventh suborbital launch contract awarded to Rocket Lab this year.

What is the role of Rocket Lab National Security (RLNS) in this mission?

RLNS, the Company’s wholly owned subsidiary created to serve the unique needs of the U.S. defense and intelligence community and its allies, will operate the mission.

What is the significance of the HASTE suborbital launch vehicle?

The HASTE suborbital launch vehicle offers true commercial testing capability at a fraction of the cost of current full-scale tests, leveraging the heritage of Rocket Lab’s low-cost Electron rocket.