LONG BEACH, Calif., November 25, 2024--(BUSINESS WIRE)--Rocket Lab USA, Inc. (Nasdaq: RKLB) ("Rocket Lab" or "the Company"), a global leader in launch services and space systems, has finalized a $23.9 million award from the U.S. Department of Commerce to increase its compound semiconductor manufacturing capability and capacity at the Company’s Albuquerque, New Mexico facility. The semiconductors produced by Rocket Lab are used in space-grade solar cells and other optoelectronic products that are important components for national security and commercial applications.

Earlier this year, the Company announced the signing of a preliminary terms sheet for funding under the CHIPS and Science Act. This award underscores Rocket Lab’s pivotal role in U.S. innovation and the space industry’s supply chain. The funding will enhance manufacturing capabilities at the company’s New Mexico facility, enabling Rocket Lab to scale semiconductor production to meet rapidly growing demand. In particular, the space-grade solar cells produced by Rocket Lab power satellites that require high reliability and optimum performance in extreme environments.

"We’re proud to be a part of this effort to revitalize and grow U.S. domestic semiconductor manufacturing capability. This award will help to ensure U.S. leadership in compound semiconductor manufacturing capability while reinforcing Rocket Lab’s position as a leader in space-grade solar cell production," said Brad Clevenger, Vice President of Rocket Lab Space Systems. "The investment will enable Rocket Lab to expand production, create highly skilled manufacturing jobs and generate economic and workforce development activity in New Mexico."

Rocket Lab is one of only two companies in the United States that specialize in the production of highly efficient and radiation hardened space-grade solar cells. Rocket Lab’s solar cell facility has been a technology hub in Albuquerque for the past 25 years, employing more than 370 people that have delivered more than four megawatts of power to over 1,100 satellites in orbit. Rocket Lab’s products enable critical space programs, including early missile warning and interplanetary science missions, the James Webb Space Telescope, NASA’s Artemis lunar explorations, the Ingenuity Mars Helicopter, and the Mars Insight Lander in addition to 100’s of commercial telecommunications satellites.

+ About Rocket Lab

Founded in 2006, Rocket Lab is an end-to-end space company with an established track record of mission success. We deliver reliable launch services, satellite manufacture, spacecraft components, and on-orbit management solutions that make it faster, easier, and more affordable to access space. Headquartered in Long Beach, California, Rocket Lab designs and manufactures the Electron small orbital launch vehicle, a family of spacecraft platforms, and the Company is developing the large Neutron launch vehicle for constellation deployment. Since its first orbital launch in January 2018, Rocket Lab’s Electron launch vehicle has become the second most frequently launched U.S. rocket annually and has delivered 198 satellites to orbit for private and public sector organizations, enabling operations in national security, scientific research, space debris mitigation, Earth observation, climate monitoring, and communications. Rocket Lab’s spacecraft platforms have been selected to support NASA missions to the Moon and Mars, as well as the first private commercial mission to Venus. Rocket Lab has three launch pads at two launch sites, including two launch pads at a private orbital launch site located in New Zealand and a third launch pad in Virginia. To learn more, visit www.rocketlabusa.com.