After a large contract award was announced, Rocket Lab USA, Inc. (NASDAQ: RKLB) saw a sharp increase in stock price. Just after opening of the market today, RKLB shares have increased 9.42% to $19.51.
Contract Win Fuels Growth
In order to win a vital role in providing cutting-edge space-grade solar panels for a new fleet of OneWeb Low Earth Orbit (LEO) satellites, Rocket Lab (RKLB) expanded its strategic partnership with Airbus. The company has been chosen by Airbus Constellation spacecraft to produce and supply high-efficiency solar panels for 100 OneWeb spacecraft operated by the Eutelsat Group.
By offering high-speed, low-latency access to isolated and underserved areas, the OneWeb network seeks to increase the coverage of the internet worldwide. This collaboration demonstrates Rocket Lab’s expanding standing as a reliable provider of cutting-edge satellite technology in the aerospace sector.
Large-Scale Production to Promote Worldwide Connectivity
200 solar panels, comprising carbon composite panel substrates, solar cells, and photovoltaic assemblies, will be manufactured and supplied by Rocket Lab as part of this arrangement. At the company’s state-of-the-art 150,000-square-foot solar production plant in Albuquerque, New Mexico, these components will be created.
When the solar panels are installed, they should provide around 80 kW of electricity, which is enough to operate 16 Hubble-sized space observatories. Building on earlier achievements, this new alliance represents RKLB and Airbus’ ongoing engagement.
For OneWeb’s first fleet of satellites, Rocket Lab provided more than 450 sets of solar array panels in 2021. Deliveries of Airbus’s next-generation satellites are expected to start in 2026 as the company gets ready to produce the first batch.
Strategic Expansion with Mynaric Acquisition
Separately, Rocket Lab declared its plan to purchase a majority stake in Mynaric AG, a pioneer in laser optical communication terminals for mobile, space, and aviation applications.
According to German law, the acquisition is contingent upon Mynaric’s ongoing StaRUG reorganization procedure being completed. The lenders will convert some existing debt into 100% stock ownership as part of this restructuring.
If the agreement is completed, RKLB will be able to include Mynaric’s experience into its portfolio, solidifying its standing as a leading supplier of satellite components, spacecraft, and launches.
Rocket Lab may use the revenues from equity sales to support this purchase and possible future investments, reaffirming its dedication to growing its business and developing cutting-edge space technology.