International Space Technology Client signs Multi-launch Term Sheet for Missions from Canada, Committing to Launch Orbital Transfer Vehicles (OTVs) from Spaceport Nova Scotia

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With a recent multi-mission Agreement signed for launching client OTVs from a manufacturer in the EU, Maritime Launch has secured medium-class launch vehicle capacity on multiple missions on a rideshare and dedicated payload basis from Spaceport Nova Scotia from 2025 onwards.

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Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Wednesday, May 24, 2023
Information
Tags: 
Maritime, Satellite, Technology, Aerospace, Transport, Manufacturing, Other Transport, Acceleration, Partnership, Maritime Launch Services, OTCQB, History, NEO, Communications satellite, EU
Geotags: 
NORTH AMERICA, CANADA, NOVA SCOTIA
⚠ partially generated by AI ↴
Organisation: 
MARITIME LAUNCH SERVICES, MARITIME LAUNCH SERVICES INC., MARITIME LAUNCH
Stock Symbol: 
OTCQB:MAXQF
NEO:MAXQ
Summary
Key Points: 
  • With a recent multi-mission Agreement signed for launching client OTVs from a manufacturer in the EU, Maritime Launch has secured medium-class launch vehicle capacity on multiple missions on a rideshare and dedicated payload basis from Spaceport Nova Scotia from 2025 onwards.
  • The space industry is currently facing a tight launch market, with only a few places to launch commercial payloads for satellite constellation deployment.
  • The Company has Canadian and international clients lined-up to launch using small-class vehicles starting as early as 2024.
  • “Finding clients who want to launch their technology from Spaceport Nova Scotia has not been a challenge for our team, given demand,” added President and CEO, Stephen Matier.


Maritime Launch Services Inc. (NEO: MAXQ, OTCQB: MAXQF) announces today that its launch manifest on its medium class launch vehicles has been committed through the end of 2027.

With a recent multi-mission Agreement signed for launching client OTVs from a manufacturer in the EU, Maritime Launch has secured medium-class launch vehicle capacity on multiple missions on a rideshare and dedicated payload basis from Spaceport Nova Scotia from 2025 onwards.

“This Agreement, if fully realized, is valued at over $1B in revenue and commits a large portion of our near-term medium-class launch manifest at Spaceport Nova Scotia, proving the strong demand for launch services in the global space market and the viability of Spaceport Nova Scotia,” says Stephen Matier, President and CEO of Maritime Launch Services. “By offering missions from Nova Scotia, we are able to help address global demand, while offering Canadians great careers and opportunities to participate in our exciting space economy.”

Maritime Launch is currently under construction building Canada’s first commercial launch site, Spaceport Nova Scotia, located near the rural communities of Canso, Hazel Hill and Little Dover.

The space industry is currently facing a tight launch market, with only a few places to launch commercial payloads for satellite constellation deployment. Maritime Launch offers the global market competitive launch inclinations from 45 to 98 degrees from a single site, making it one of the most attractive launch locations in North America. The Company has Canadian and international clients lined-up to launch using small-class vehicles starting as early as 2024.

Maritime Launch’s international client is a leader in space logistics and transportation and has a track record of space-proven technologies and successful missions, enabling service providers to streamline satellite launch, across-orbit transportation, on-orbit servicing and refueling, and end of mission disposal.

“Finding clients who want to launch their technology from Spaceport Nova Scotia has not been a challenge for our team, given demand,” added President and CEO, Stephen Matier. “We have seen an acceleration of demand since the start of construction last September. This demand, coupled with Transport Canada’s announcement in January to support commercial launch from Canada for the first time in our history, signals the continuing momentum of the space sector in Canada.”

In the coming months, Maritime Launch will share more details of this exciting partnership including details regarding the client’s first launch from Spaceport Nova Scotia.

About Maritime Launch

Maritime Launch Services inc. (NEO: MAXQ, OTCQB: MAXQF) is a Canadian-owned commercial space company based in Nova Scotia. Maritime Launch is developing Spaceport Nova Scotia, a launch site that will provide satellite delivery services to clients in support of the growing commercial space transportation industry over a wide range of inclinations. Spaceport Nova Scotia will allow small and medium sized launch vehicles to place their satellites into low-earth orbit. Spaceport Nova Scotia is Canada’s first commercial orbital launch complex.

Forward Looking Statements

This news release contains "forward-looking statements" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements.

Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding: the timing of spaceport construction and ability to launch medium class vehicles.

Forward-looking statements in this news release are based on certain assumptions and expected future events, namely: the Company’s ability to continue as a going concern; the Company’s ability to continue to develop revenue-generating applications; continued approval of the Company’s activities by the relevant governmental and/or regulatory authorities; the continued growth of the Company; the Company’s ability to finance its operations until profitability can be achieved and sustained.

These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the potential inability of the Company to continue as a going concern; risks associated with potential governmental and/or regulatory action with respect to the Company’s operations; the inability of the Company to provide the enumerated services; and availability of launch vehicles.

Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated.

Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

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