ABL space systems
A California company that has yet to even launch a rocket has nonetheless signed a major deal with Lockheed Martin for decades of the next decade.
Under the block-purchase agreement between ABL Space Systems and Lockheed, the airline giant will buy up to 26 launches by 2026 and as many as 32 additional launches by 2029. If the conditions are met, it will come to 58 launches over the next eight years for ABL Space. In an industry where even a single launch contract often delivers a news release, a contract for five dozen launches is unprecedented for a private company.
Officials at ABL Space did not want to offer specific financial terms of the agreement. However, ABL said the contract has a “significant” minimum commitment starting in 2022, plus additional paid options in each future year.
“This agreement offers significant value to ABL,” Harry O’Hanley, co-founder and CEO of the company, told Ars. “As far as our business is concerned, the contract offers a constant demand from one of the biggest players in the civil service. and defense space industry to anchor our manifesto through the years to come. ”
The partnership will allow Lockheed, which builds a large number of satellites for commercial customers, regular and inexpensive access to space. It may come as no surprise that Lockheed chose ABL Space for its small launch needs, as Lockhead was an early investor in the launch business during a seed phase in 2019 and still participated in additional rounds of fundraising. ABL has raised a total of $ 219 million so far.
“They are not our biggest investor, but they are in the top 10,” Dan Piemont, co-founder and president of ABL Space, said of Lockheed. “I think it is fair to say that the business relationship is much more important than the investment relationship, but we absolutely appreciate that they are involved in ABL in both capacities.”
Before ABL Space can achieve this contract, it must of course show that it can reach a trajectory. The company El Segundo, California, is developing a rocket called RS1 with the ability to send 1.35 tons to a low Earth orbit. The first phase of the rocket is powered by nine E2 engines, which burn liquid oxygen and kerosene, pushing 13,000 pounds each. In this sense, the vehicle is something like a miniature Falcon 9 rocket. It has a base price of $ 12 million per flight.
Originally, the company had hoped to launch during the first half of 2021, but O’Hanley said ‘external factors’ are still coming together for the first mission. ABL is now aiming for the third quarter of this year. The company uses a mobile launch system that can be packed in packaging containers and delivered via tractor trailers. It offers the flexibility to start from multiple locations, but for now, the first flight of the RS1 from Launch Complex-576E at Vandenberg Air Force Base will take place a few hours north of the company’s headquarters.
The company has started building its first five rockets and wants to do three launches this year – and eight or more in 2022. This is an ambitious goal, as it has historically taken several months to a full year between the initial test flight of a rocket and subsequent missions.
ABL developed the RS1 and its production capabilities with rapid growth in mind. O’Hanley said the company could produce a complete RS1 fuel tank assembly in about three weeks, and ABL is developing a high-cadence engine test site at Mojave Air & Space Port. This is how it hopes to scale operations to meet the numbers proposed in the contract with Lockheed.
“We take the scale challenge seriously and have a clear roadmap,” O’Hanley said.