Intuitive Machines, Inc. (Nasdaq: LUNR, LUNRW) (“Intuitive
Machines”) (“Company”), a leading space exploration,
infrastructure, and services company, has qualified the VR900
engine for its IM-2 lunar mission, which also advances the
development of the Company’s VR3500 engine for larger cargo class
landers.
Designed, 3D-printed, and tested in-house, the IM-2 VR900 engine
completed a full-duration hot-fire test that confirmed increased
engine performance utilizing efficient design modifications.
Intuitive Machines engineers are applying the design modifications
and quality processes to its larger engine system while completing
the IM-2 mission lander’s final assembly.
The scalable VR900 engine uses an environmentally friendly mix
of liquid oxygen and methane (“LOx/LCH4”) to support science and
discovery payload deliveries to the Moon. Intuitive Machines first
validated the proprietary propulsion system through the first-ever
deep space ignition, followed by multiple restarts, repeatedly
providing successful spacecraft maneuvers on the IM-1 mission in
February 2024.
“From the outset, our goal was to pioneer the industry’s first
deep space scalable LOx/LCH4 engine to meet the immediate demand
for science and discover-class lunar missions,” said Intuitive
Machines CEO Steve Altemus. “This validated engine design meets
current mission demand and paves the way for our VR3500 engine for
cargo delivery such as lunar terrain vehicles, human spaceflight
cargo resupply, and other infrastructure delivery. We believe we’re
in a prime position to build on our successful development and
apply that technology toward current contracts and future lunar
requirements for infrastructure delivery.”
Intuitive Machines is completing a $30 million Lunar Terrain
Vehicle Services Feasibility Assessment as the prime contractor.
The contract tasks the Company’s global team with creating a
feasibility roadmap to develop, deploy, and operate a Lunar Terrain
Vehicle on the Moon using the Company’s cargo-class lunar landers.
The $1+ billion contract down select is expected in mid-2025.
In 2020, Intuitive Machines successfully test-fired its VR3500
cargo class lander engine, breaking the continuous test duration
record of NASA’s Marshall Space Flight Center’s Test Stand 115.
Intuitive Machines previously held the record with a 360-second
test firing of the same engine. The VR3500 development and testing
were performed on contract for a human landing system architecture
studies and technology prototypes contract.
About Intuitive Machines
Intuitive Machines is a diversified space exploration,
infrastructure, and services company focused on fundamentally
disrupting lunar access economics. In 2024, Intuitive Machines
successfully landed the Company’s Nova-C class lunar lander,
Odysseus, on the Moon, returning the United States to the lunar
surface for the first time since 1972. The Company’s products and
services are offered through its four in-space business units:
Lunar Access Services, Orbital Services, Lunar Data Services, and
Space Products and Infrastructure. For more information, please
visit intuitivemachines.com.
Contacts
For investor inquiries:
investors@intuitivemachines.com
For media inquiries:
press@intuitivemachines.com
Forward-Looking Statements
This press release includes “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995, as amended. These statements that do not relate to matters of
historical fact should be considered forward-looking. These
forward-looking statements generally are identified by the words
such as “anticipate,” “believe,” “continue,” “could,” “estimate,”
“expect,” “intend,” “may,” “might,” “plan,” “possible,”
“potential,” “predict,” “project,” “should,” “strive,” “would,”
“strategy,” “outlook,” the negative of these words or other similar
expressions, but the absence of these words does not mean that a
statement is not forward-looking. These forward-looking statements
include but are not limited to statements regarding: our
expectations and plans relating to the Lunar Terrain Vehicle. These
forward-looking statements reflect the Company’s predictions,
projections, or expectations based upon currently available
information and data. Our actual results, performance or
achievements may differ materially from those expressed or implied
by the forward-looking statements, and you are cautioned not to
place undue reliance on these forward looking statements. The
following important factors and uncertainties, among others, could
cause actual outcomes or results to differ materially from those
indicated by the forward-looking statements in this presentation:
our reliance upon the efforts of our Board and key personnel to be
successful; our limited operating history; our competition from
existing or new companies; unsatisfactory safety performance of our
spaceflight systems or security incidents at our facilities; any
delayed launches, launch failures, significant increases in the
costs related to launches of satellites and lunar landers, and
insufficient capacity available from satellite and lunar lander
launch providers; risks associated with commercial spaceflight,
including any accident on launch or during the journey into space;
risks associated with the handling, production and disposition of
potentially explosive and ignitable energetic materials and other
dangerous chemicals in our operations; our reliance on a limited
number of suppliers for certain materials and supplied components;
failure of our products to operate in the expected manner or
defects in our products; counterparty risks on contracts entered
into with our customers; failure to comply with various laws and
regulations relating to various aspects of our business and any
changes in the funding levels of various governmental entities with
which we do business; our failure to protect the confidentiality of
our trade secrets and know how; our failure to comply with the
terms of third-party open source software our systems utilize; our
ability to maintain an effective system of internal control over
financial reporting, and to address and remediate material
weaknesses in our internal control over financial reporting; the
U.S. government’s budget deficit and the national debt, as well as
any inability of the U.S. government to complete its budget process
for any government fiscal year, and our dependence on U.S.
government contracts and funding by the government for the
government contracts; our failure to comply with U.S. export and
import control laws and regulations and U.S. economic sanctions and
trade control laws and regulations; uncertain global macro-economic
and political conditions and rising inflation; our history of
losses and failure to achieve profitability and our need for
substantial additional capital to fund our operations; the fact
that our financial results may fluctuate significantly from quarter
to quarter; the risk that our business and operations could be
significantly affected if it becomes subject to any securities
litigation or stockholder activism; our public securities’
potential liquidity and trading; and other public filings and press
releases other factors detailed under the section titled Part I,
Item 1A. Risk Factors of our Annual Report on Form 10-K filed with
the Securities and Exchange Commission (the “SEC”), the section
titled Part I, Item 2, Management’s Discussion and Analysis of
Financial Condition and Results of Operations, which are accessible
on the SEC's website at www.sec.gov and the Investors section of
our website at http://investors.intuitivemachines.com/.
These forward-looking statements are based on information
available as of the date of this press release and current
expectations, forecasts, and assumptions, and involve a number of
judgments, risks, and uncertainties. Accordingly, forward-looking
statements should not be relied upon as representing our views as
of any subsequent date, and we do not undertake any obligation to
update forward-looking statements to reflect events or
circumstances after the date they were made, whether as a result of
new information, future events, or otherwise, except as may be
required under applicable securities laws.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/61efc5c5-e643-47ef-a86e-191a76c1fd7b
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