Terran Orbital Awarded $15.2 Million Contract From the US Space Force
05 Marzo 2024 - 5:30AM
Business Wire
Terran Orbital Corporation (NYSE: LLAP) (“Terran Orbital” or the
“Company”), a global leader in satellite-based solutions primarily
serving the aerospace and defense industries, announced it was
awarded a $15.2 million contract to supply Ambassador Class
satellite platforms complete with solar arrays and support
equipment to the Air Force Research Laboratory AFRL. The contract,
managed through Axient Corporation, will integrate payloads onto
these ESPA-Grande size space vehicle platforms to support specific
United States Space Force missions. Delivery is planned in the 4th
quarter of 2024.
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Terran Orbital’s commercial off-the-shelf
Ambassador platform Image Credit: Terran Orbital
“These platforms are based on Terran Orbital’s commercial
off-the-shelf Ambassador platform, similar to those provided for
the Space Development Agency’s Tranche 1 Transport Layer satellites
being delivered by Lockheed Martin,” said Marc Bell, Terran
Orbital’s Co-Founder, Chairman, and Chief Executive Officer.
“Demonstrating Terran Orbital’s commitment to Responsive Space,
these space vehicles will be delivered off Terran Orbital’s
production line in less than twelve months,” Bell added.
In a recent presentation at the SpacePower Conference, Terran
Orbital emphasized its commitment to providing Responsive Space
capabilities for the National Security Space sector. Specifically,
by Q4 2024, Terran Orbital will be able to deliver a range of
standard satellite platforms within just 30 days and complete
satellite systems with integrated payloads within 60 days utilizing
robotic assembly, a modular architecture, comprehensive vertical
integration, and a deep commitment to quality for missions ranging
from LEO to Cislunar.
About Terran Orbital
Terran Orbital is a leading manufacturer of satellite products
primarily serving the aerospace and defense industries. Terran
Orbital provides end-to-end satellite solutions by combining
satellite design, production, launch planning, mission operations,
and on-orbit support to meet the needs of the most demanding
military, civil, and commercial customers. Learn more at
www.terranorbital.com.
Forward-Looking Statements
This press release contains, and the Company’s officers and
representatives may from time to time make other public written and
verbal announcements that contain, forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. The Company intends 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, and Section 21E of the Securities Exchange Act of 1934,
as amended. All statements, other than statements of present or
historical facts, contained in this press release, regarding the
Company’s financial results or management’s expectations, plans or
objectives are forward-looking statements. Forward-looking
statements are typically identified by such words as “plan,”
“believe,” “expect,” “anticipate,” “intend,” “outlook, “estimate,”
“forecast,” “project,” “continue,” “could,” “may,” “might,”
“possible,” “potential,” “predict,” “will,” “should,” “would” and
“could” and other similar words and expressions, but the absence of
these words does not mean that a statement is not forward-looking.
These forward-looking statements are based on management’s current
expectations. These statements are neither promises nor guarantees
and involve known and unknown risks, uncertainties and other
important factors that may cause actual results, performance or
achievements to be materially different from what is expressed or
implied by the forward-looking statements, including, but not
limited to: certain customers’ right to terminate contracts for
convenience or default; our ability to scale-up our manufacturing
processes and facilities in order to meet the demands of certain
programs; and the risks disclosed in our Annual Report on Form 10-K
filed with the SEC on March 23, 2023, the prospectus supplement
dated September 18, 2023 related to our Registration Statement on
Form S-3, as amended (File No. 333-271093), which was declared
effective by the SEC on April 18, 2023, and in our Quarterly Report
on Form 10-Q filed with the SEC on November 14, 2023.
Forward-looking statements speak only as of the date they are made
and, except as may be required under applicable law, the Company
undertakes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise.
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Juliana Johnson pr@terranorbital.com 949-508-6404
Investor Relations ir@terranorbital.com 949-202-8476
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