Momentus Inc. (NASDAQ: MNTS) shares are exhibiting resilience, advancing by 8.99% in the pre-market session at $2.18. Despite enduring a tumultuous year with a staggering 94.75% decline in value, Momentus stock displayed a glimmer of hope last week, surging by 7.85%. This upward momentum appears to be spurred by mentioning of a series of developments by its CEO last week.
What Developments MNTS as Made?
Momentus (MNTS) recently celebrated a significant achievement as their CEO, Mr. John Rood, was named one of this year’s “Executives to Watch” by Connectivity Business. This recognition underscores Momentus’ commitment to becoming a major player in the space industry.
Over the past year, Momentus has made remarkable progress, launching three Orbital Service Vehicles and deploying 15 customer satellites, advancing space exploration with cost-effective solutions. They’ve introduced groundbreaking technology, including a water-based thruster and an innovative solar array design.
Momentus has also demonstrated its dedication to sustainability with the Microwave Electrothermal Thruster (MET), using water as a propellant for orbital maneuvers. This sustainable approach is aligned with their vision for the future of space travel.
The company introduced the M-1000 satellite bus, known for its adaptability and modularity, catering to a range of government and commercial missions while maintaining cost competitiveness. They’ve earned recognition through a Space Development Agency Small Business Innovation Research Award.
Momentus has secured launch options to Low-Earth Orbit until 2024 and signed agreements with key partners, including FOSSA, Aarhus University, and undisclosed clients. They successfully closed a $5.0 Million Registered Direct Offering, bolstering their financial position.
What’s Next at MNTS?
Looking ahead, Momentus (MNTS) plans to transport customers on the SpaceX Transporter-9 mission in November 2023, followed by another mission on the SpaceX Transporter-10 mission in February 2024. These endeavors mark MNTS commitment to innovation, sustainability, and cost-effectiveness, solidifying its position as a trailblazer in the space industry.
