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.
(more…)