Sidus Space and Momentus Execute MOU to Better Serve Customers
Partners to Explore Pursuing New Commercial and Government Opportunities
CAPE CANAVERAL, Fla.--(BUSINESS WIRE)-- Sidus Space, Inc. (NASDAQ:SIDU), a Space-as-a-Service satellite company focused on mission critical hardware manufacturing; multi-disciplinary engineering services; satellite design, production, launch planning, mission operations; and in-orbit support, today announced that it has signed a memorandum of understanding (“MOU”) with Momentus Inc.(NASDAQ: MNTS) to explore launching its LizzieSat™ satellites utilizing Momentus’ Vigoride Orbital Service Vehicle (“OSV"). The MOU also seeks to foster collaboration between the two companies to use their joint capabilities to seek new opportunities together, expanding both firms’ reach.
Together the firms are discussing undertaking an integrated mission that has characteristics of both a Hosted Payload and Delivery Service. Once in orbit, a Momentus OSV could provide power and data to LizzieSat™ for deployment, offering mission versatility for customers based on Vigoride’s service capabilities in-orbit. Sidus Space is interested in four potential mission launches with Momentus initially. As part of the MOU, the companies will potentially provide and/or source payloads to one another and explore working together on select government solicitations.
Sidus Space has designed and is manufacturing LizzieSat™ for its multi-mission LEO satellite constellation operating in diverse orbits (28°-98° inclination, 300-650km altitude) as approved by the International Telecommunication Union in February 2021. LizzieSat™ offers many differentiating attributes due to its size and propulsion options. Sidus’ manufactured 3D printed satellites maximize customer data and technology needs within a lightweight bus. Additionally, redundant attitude controls systems provide precision pointing for payloads and propulsion maintains satellite orbit and provides collision avoidance capability. Earlier this month, Sidus announced that it signed a launch agreement with SpaceX for five launches, beginning in early 2023.
Commenting on the agreement, Carol Craig, Sidus Space Founder and CEO said, “We are excited to join with Momentus to develop opportunities for better value for our LizzieSat™ customers through increased mission flexibility. This is yet another key step in ‘Bringing Space Down to Earth’ for customers, industries, and new use cases as we look ahead to launching LizzieSat™ next year. The competitive advantage and mission versatility offered by the OSV translates to better value for our customers. This agreement should allow us to better serve existing customers, while attracting new payloads to our satellite offering.”
“The concept of integrating LizzieSat on Vigoride would allow Sidus to focus their resources on achieving mission objectives for their customers, while we would handle reliable transportation to orbital destinations. Together, our respective capabilities could optimize space for the benefit of Earth,” said Momentus Chief Executive Officer John Rood. “We look forward to building a long-term relationship with Sidus Space as it heads toward orbit.”
About Sidus Space
Sidus Space (NASDAQ: SIDU), located in Cape Canaveral, Florida, operates from a 35,000-square-foot manufacturing, assembly, integration, and testing facility focused on vertically integrated Space-as-a-Service solutions including end-to-end satellite support. The company’s rich heritage includes the design and manufacture of many flight and ground component parts and systems for various space-related customers and programs. Sidus Space has a broad range of Space-As-a-Service offerings including space-rated hardware manufacturing, design engineering, satellite manufacturing and platform development, launch and support services, data analytics services and satellite constellation management.
Sidus Space has a mission of Bringing Space Down to Earth™ and a vision of enabling space flight heritage status for new technologies while delivering data and predictive analytics to domestic and global customers. Any corporation, industry, or vertical can start their journey off-planet with Sidus Space’s rapidly scalable, low-cost satellite services, space-based solutions, and testing alternatives. More than just a “Satellite-as-a-Service” provider, Sidus Space is a trusted Mission Partner–from concept to Low Earth Orbit and beyond. Sidus Space is ISO 9001:2015, AS9100 Rev. D certified, and ITAR registered.
About Momentus Space
Momentus is a U.S. commercial space company that offers in-space infrastructure services, including in-space transportation, hosted payloads and in-orbit services. Momentus believes it can make new ways of operating in space possible with its planned in-space transfer and service vehicles that will be powered by an innovative water plasma-based propulsion system that is under development.
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute ‘forward-looking statements’ within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words ‘anticipate,’ ‘believe,’ ‘continue,’ ‘could,’ ‘estimate,’ ‘expect,’ ‘intend,’ ‘may,’ ‘plan,’ ‘potential,’ ‘predict,’ ‘project,’ ‘should,’ ‘target,’ ‘will,’ ‘would’ and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and other factors described more fully in the section entitled ‘Risk Factors’ in Sidus Space’s Annual Report on Form 10-K for the year ended December 31, 2021, and other periodic reports filed with the Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof, and Sidus Space, Inc. specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
Senior Vice President
Source: Sidus Space, Inc.
Released September 14, 2022