EL SEGUNDO, Calif.,
July 22, 2019 /PRNewswire/
-- ABL Space Systems Company, the California-based developer of the RS1 launch
vehicle, announced today that it has closed a strategic investment
from Lockheed Martin Ventures.
Founded in 2017, ABL completed its first development vehicle in
2018. More recently, the company conducted a series of successful
tests of the E2 bipropellant rocket engine at Spaceport America in
Truth or Consequences, New Mexico.
The investment follows ABL's recent announcement of an improved
1,200 kilogram payload capacity and $12
million price of RS1.
"The U.S. government is increasingly interested in responsive
small launch vehicles and the distinct capabilities they offer,"
noted ABL CEO Harry O'Hanley.
"Lockheed Martin Space has been providing successful end-to-end
solutions to the government for decades and its support offers an
excellent opportunity for us to deliver ABL products at scale."
"It is clear that space has become a contested environment,"
said Rick Ambrose, executive vice
president of Lockheed Martin Space. "We recognize the growing
importance of on-demand and flexible launch options as part of a
suite of solutions necessary to counter this and other growing
challenges."
Proceeds from the financing will be used to advance ABL's
development and test program, including a planned integrated stage
test in the second half of 2019. ABL is planning a first launch of
RS1 in 2020.
More details on the RS1 vehicle architecture, mission
capability, and launch operations can be found in ABL's RS1 Payload
User's Guide, which is available at ablspacesystems.com.
ABOUT ABL SPACE SYSTEMS:
ABL Space Systems was founded by former SpaceX engineering
leaders in 2017 to develop low-cost launch vehicles for the small
satellite industry. ABL is headquartered in El Segundo, California, where it has 30,000
square feet of facilities for research, development, and
production. ABL is a team of over 25 world-class aerospace
engineers with experience at SpaceX, Virgin Orbit, Boeing, Lockheed
Martin, Pratt + Whitney, and elsewhere. ABL is a privately-owned
corporation backed by a premier group of private equity investors.
To learn more, visit ablspacesystems.com
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SOURCE ABL Space Systems Company