ABL Space Systems Begins RS1 Stage Testing, Reaches $90 Million in Funding

EL SEGUNDO, Calif., Aug. 3, 2020 (ABL Space Systems PR) — ABL Space Systems has begun stage testing of the RS1 small satellite launch vehicle, and has been awarded two US DoD contracts and secured a large round of funding with a combined value of over $90 million. ABL’s awards and funding are key to the rapid development of the RS1 launch vehicle and GS0 deployable launch system, with a demonstration launch slated for Q1 of 2021.

ABL’s DoD contracts, awarded by the Air Force Research Laboratory and AFWERX, with participation from the Air Force Space and Missile Systems Center, total $44.5 million over three years. Additionally, ABL has secured $49 million of financing led by Ethan Batraski at Venrock with participation from New Science Ventures, Lynett Capital, and Lockheed Martin Ventures. The recent round closed on March 31st, and fully funds ABL through a three launch demonstration campaign in 2021.

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Lockheed Martin Ventures Invests in ABL Space Systems

EL SEGUNDO, Calif., (ABL Space Systems PR) — ABL Space Systems Company, the California-based developer of the RS1 launch vehicle, announced today that it has closed a strategic investment from Lockheed Martin Ventures.

Founded in 2017, ABL completed its first development vehicle in 2018. More recently, the company conducted a series of successful tests of the E2 bipropellant rocket engine at Spaceport America in Truth or Consequences, New Mexico. The investment follows ABL’s recent announcement of an improved 1,200 kilogram payload capacity and $12 million price of RS1.

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