NASA Selects Rocket Lab to Launch TROPICS Mission
Long Beach, California. November. 23, 2022 – Rocket Lab USA, Inc. (Nasdaq: RKLB) (“Rocket Lab” or “the Company”), a leading launch and space systems company, today announced it has been selected by NASA to launch the Time-Resolved Observations of Precipitation Structure and Storm Intensity with a Constellation of Smallsats (TROPICS) mission, as part of the agency's Venture-class Acquisition of Dedicated and Rideshare (VADR) launch services contract.
Rocket Lab will launch the TROPICS mission, which is part of NASA’s Earth System Science Pathfinder Program and consists of four CubeSats in two low-Earth orbital planes, into their operational orbit within a 60-day period. These two dedicated missions will launch on Electron rockets from Launch Complex 2 within the Mid-Atlantic Regional Spaceport at NASA Wallops Flight Facility in Virginia. The launches are scheduled to take place no earlier than May 1, 2023.
The TROPICS constellation targets the formation and evolution of tropical cyclones, including hurricanes. TROPICS will provide rapidly updating observations of storm intensity as well as the horizontal and vertical structures of temperature and humidity within the storms and in their surrounding environment. These data will help scientists better understand the processes that effect these high-impact storms, ultimately leading to improved modeling and prediction.
“This year we once again witnessed the devastating effects of hurricanes and tropical storms on lives and livelihoods, underscoring the importance of improved climate data from space to enable scientists and researchers to accurately predict storm strength and give people time to evacuate and make plans,” said Rocket Lab founder and CEO, Peter Beck. “The TROPICS satellites need a responsive and reliable path to orbit to equip people with near real-time, actionable weather data and Rocket Lab is honored to provide a dependable launch solution as we approach the 2023 hurricane season. We look forward to working closely with the team at NASA to deliver mission success once again.”
Forward Looking Statements.
This press release may contain certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, contained in this release, including statements regarding our expectations of financial results for the third quarter of 2022, strategy, future operations, future financial position, projected costs, prospects, plans and objectives of management, are forward-looking statements. Words such as, but not limited to, “anticipate,” “aim,” “believe,” “contemplate,” “continue,” “could,” “design,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “seek,” “should,” “suggest,” “strategy,” “target,” “will,” “would,” and similar expressions or phrases, or the negative of those expressions or phrases, are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are based on Rocket Lab’s current expectations and beliefs concerning future developments and their potential effects. These forward-looking statements involve a number of risks, uncertainties (many of which are beyond Rocket Lab’s control), or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. Many factors could cause actual future events to differ materially from the forward-looking statements in this release, including risks related to the global COVID-19 pandemic; risks related to government restrictions and lock-downs in New Zealand and other countries in which we operate that could delay or suspend our operations; delays and disruptions in expansion efforts; our dependence on a limited number of customers; the harsh and unpredictable environment of space in which our products operate which could adversely affect our launch vehicle and spacecraft; increased congestion from the proliferation of low Earth orbit constellations which could materially increase the risk of potential collision with space debris or another spacecraft and limit or impair our launch flexibility and/or access to our own orbital slots; increased competition in our industry due in part to rapid technological development and decreasing costs; technological change in our industry which we may not be able to keep up with or which may render our services uncompetitive; average selling price trends; failure of our launch vehicles, spacecraft and components to operate as intended either due to our error in design in production or through no fault of our own; launch schedule disruptions; supply chain disruptions, product delays or failures; design and engineering flaws; launch failures; natural disasters and epidemics or pandemics; changes in governmental regulations including with respect to trade and export restrictions, or in the status of our regulatory approvals or applications; or other events that force us to cancel or reschedule launches, including customer contractual rescheduling and termination rights; risks that acquisitions may not be completed on the anticipated time frame or at all or do not achieve the anticipated benefits and results; and the other risks detailed from time to time in Rocket Lab’s filings with the Securities and Exchange Commission (the “SEC”), including under the heading “Risk Factors” in Rocket Lab’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, which was filed with the SEC on March 24, 2022, and elsewhere (including that the impact of the COVID-19 pandemic may also exacerbate the risks discussed therein). There can be no assurance that the future developments affecting Rocket Lab will be those that we have anticipated. Except as required by law, Rocket Lab is not undertaking any obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise