An undisclosed customer has authorized satellite manufacturer Intuitive Machines to begin work on a multi-satellite communications program with an anticipated value of more than $600 million, according to a news release Monday.
“Winning this multi-satellite procurement is an important milestone for Intuitive Machines.”
Steve Altemus, Intuitive Machines
The Houston-based space technology company, traded on the Nasdaq under the symbol LUNR, will design, manufacture, integrate and support multiple spacecraft under the agreement, using its IM 1300 satellite platform.
The customer’s identity was not disclosed. Additional program details remain confidential at the customer’s request, the company said.
A securities filing tied to the company’s second-quarter results describes what appears to be the same program. That filing states the company received a $45 million authority to proceed and recorded backlog reflecting an estimated total program value of more than $600 million. The $600 million figure cited in Monday’s release, in other words, describes the program’s projected total size rather than funds committed so far.
“This program reflects the trust customers place in partners who can execute complex space missions with precision, reliability, and schedule discipline,” said Chris Johnson, President of Intuitive Machines Space Systems. “Our team is committed to delivering high-performance spacecraft while working closely with our customer throughout every phase of the program — from design and manufacturing through mission delivery.”
“Winning this multi-satellite procurement is an important milestone for Intuitive Machines and reflects the confidence our customers place in our ability to deliver high-performance spacecraft for a broad range of mission needs,” said Steve Altemus, Chief Executive Officer of Intuitive Machines. “Today, Intuitive Machines is executing programs across commercial, civil, and national security space markets, and awards like this reinforce both the strength of our diversified business and the growing demand for our space infrastructure capabilities.”
The company described the award as part of an integrated strategy to build spacecraft, connect them through communications networks and operate them as long-term services across commercial, civil and national security markets. It did not say when work under the program would begin or when the spacecraft are expected to be delivered.