Momentus, Inc. (NASDAQ: MNTS) is a U.S.-based commercial aerospace company that aims to offer transportation and other in-space infrastructure services. The company is developing an innovative water plasma-based propulsion system, which would power its vehicles into space. Momentus estimates its first Vigoride vehicle to take flight on a third-party launch provider as early as June 2022.
Shares of the commercial space company are surging 47% through early trading on Thursday, April 7, 2022. Over the past three months, Momentus has seen average daily volume of around 749,260 shares. However, volume of 74.47 million shares or dollar volume of around $323.2 million, has already exchanged hands through early trading.
The space company’s shares surged after announcing a launch services agreement with Space Exploration Technologies Corp. (SpaceX). The agreement serves as reservation slots for Momentus on four SpaceX Transporter missions through 2023: Transporter-6 mission in October 2022, Transporter-7 mission in January 2023, Transporter-8 mission in April 2023, and Transporter-9 mission in October 2023. These reservations comes as Momentus prepares for its first SpaceX launch, Transporter-5, which is scheduled for June 2022.
The Transporter-5 launch will mark Momentus’s inaugural demonstration flight of its Vigoride vehicle. The Vigoride spacecraft just recently completed Thermal Vacuum Testing (TVAC) and is now conducting follow-on testing to address a couple of anomalies located during TVAC testing. In addition, the Vigoride vehicle is in the final stages of its vibration testing before its shipped to SpaceX for flight preparation.
“Our agreements with SpaceX establish a regular launch cadence for Momentus as we bring our initial services to market,” said Momentus CEO John Rood. “We’ll use these flight opportunities to demonstrate the capabilities of our Vigoride orbital transfer vehicle, deliver customers to orbit, and continue the development of new technologies to expand our service offerings at lower costs.”
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