Rocket Lab Debuts HASTE Rocket with First Successful Suborbital Launch from Virginia

2023-06-18 10:56

WALLOPS ISLAND, Virginia--(BUSINESS WIRE)--Jun 17, 2023--

Rocket Lab USA, Inc. (Nasdaq: RKLB) (“Rocket Lab” or “the Company”), a global leader in launch services and space systems, today announced it successfully launched its first suborbital testbed launch vehicle, called HASTE (Hypersonic Accelerator Suborbital Test Electron) for a confidential customer.

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Lift-off of Rocket Lab's HASTE launch vehicle from Rocket Lab Launch Complex 2 in Virginia on Saturday, 17 June 2023. (Photo: Business Wire)

The inaugural launch took place on June 17 at 21:24 Eastern local time (June 18, 01:24 UTC) from Rocket Lab’s Launch Complex 2 at Virginia’s Mid-Atlantic Regional Spaceport within NASA’s Wallops Flight Facility.

The HASTE suborbital launch vehicle is derived from the Company’s Electron rocket but has a modified Kick Stage for hypersonic payload deployment, a larger payload capacity of up to 700 kg / 1,540 lbs, and options for tailored fairings to accommodate larger payloads, including air-breathing, ballistic re-entry, boost-glide, and space-based applications payloads. 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.

“The success of this mission demonstrates collaboration across government and industry partners to change the paradigm in hypersonic testing,” said Brian Rogers, Senior Director – Global Launch Services. “HASTE enables the frequent, affordable flight testing needed to advance the nation’s hypersonic technology development, and we’re proud to be delivering this vital capability. We thank our mission partners for entrusting us with this inaugural mission and look forward to continuing our partnership into the future.”

HASTE will be primarily operated under 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. Rocket Lab Launch Complex 2 within the Mid-Atlantic Regional Spaceport at NASA Wallops Flight Facility in Virginia is the launch site for HASTE.

For more information about HASTE, visit rocketlabusa.com/launch/haste.

+ 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 163 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 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. 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 press 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, 2022, which was filed with the SEC on March 7, 2023, 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.

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CONTACT: + Rocket Lab Media Contact

Murielle Baker

media@rocketlabusa.com

KEYWORD: UNITED STATES NORTH AMERICA VIRGINIA

INDUSTRY KEYWORD: AEROSPACE MANUFACTURING

SOURCE: Rocket Lab USA, Inc.

PUB: 06/17/2023 10:40 PM/DISC: 06/17/2023 10:40 PM

http://www.businesswire.com/news/home/20230617129782/en