What's Going On With Rocket Lab Shares Today?

Author: Nabaparna Bhattacharya | June 07, 2024 01:26pm

Rocket Lab USA, Inc. (NASDAQ:RKLB) shares are trading higher on Friday.

In a press release, the company announced the launch window for the company’s 50th Electron launch. The mission will deploy five Internet-of-Things satellites for French company Kinéis.

“Making it to your first launch is not a given, so reaching 50 Electron launches is an enormous achievement and a rare feat in the history of spaceflight,” said Rocket Lab founder and CEO Sir Peter Beck. 

Scheduled to launch from Rocket Lab Launch Complex 1 in Mahia, New Zealand, the ‘No Time Toulouse’ mission has a 14-day launch window opening on June 19th, 2024, NZST.

The mission marks the initial of five dedicated Electron launches for Kinéis, supported by investors like the French government’s CNES and CLS, to enhance global IoT connectivity.

Kinéis aims to deploy a new constellation, employing 30kg-class nanosats equipped with IoT technology, to enable seamless transmission of targeted data worldwide in near-real time with minimal energy consumption.

Additionally, the constellation encompasses a ship-tracking AIS mission. Upon deployment, these advancements will enable Kinéis to expand across various sectors and scale from 20,000 to millions of connected devices.

“The Electron launcher meets our technical requirements for the positioning of five nanosatellites for each dedicated launch, Kinéis CEO Alexandre Tisserant said. “Our teams and those of Rocket Lab are well coordinated to ensure the satellite separation phase with the launcher.”

Price Action: RKLB shares are trading higher by 1.26% to $4.425 at last check Friday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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