Momentus Space which is rumored to merge with Stable Road Acquisition (SRAC) is already gaining traction from investors like Bill Ackman, Sam Korus from ARK Invest and Elon Musk, CEO of Tesla (TSLA).
Founded in 2017, Momentus is in the business of building spacecraft whose whole purpose is to move other spacecraft (i.e., satellites) to their customers’ desired orbits. They are expected to go public through a merger with Stable Road Acquisition in Q1 2021.
A few notable points
- Both ARK Invest and Elon have publicly acknowledged them via Twitter
- Momentus is partnered with SpaceX, Lockheed Martin and NASA
- They’re ridesharing on the SpaceX Falcon shuttle launch on December 18 with the launch of the company’s Vigoride product.
- Investors include Y-Combinator, Prime Movers/Bill Ackman and Tony Robbins
- The company has a patented water propulsion technology, which apparently makes them the cheapest and most competitive solution on the market.
- Momentus already has a booking backlog of $90 million and a “pipeline” of $1.2 billion. Apparently, there is a upside of 192% from the current share price.
We are on the cusp of an explosion of space technology as private companies such as SpaceX, BlueOrigin, and others compete over market share. This had led to drastic cost reductions in the cost to launch satellites. Investors who lost out on Virgin Galactic (SPCE) will find Momentus/Stable Road Acquisition very attractive.
Big players have announced the intention to launch as many as 46,100 satellites in the next few years. That’s more than five times the amount of objects sent to space in the past 60 years.
Many of these these satellites will be launched into orbit by being attached to a large rocket (ride sharing) which itself has its own payload to deliver and agenda to fulfill. Momentus comes in by attaching a custom launch vehicle to the large payload carrier (such as the Falcon-9 SpaceX rocket) and delivering specific payloads into specific orbits along the route of the large rocket which CAN NOT be accomplished solely by the rocket itself.