MNTS - Momentus climbs 14% will deliver nine satellites for Apogeo Space IoT constellation

2023-06-05 07:16:31 ET

• U.S. commercial space company, Momentus ( NASDAQ: MNTS ) signs an agreement with Apogeo Space to provide orbital transportation services for nine satellites that are part of Apogeo’s planned 100-satellite Internet of Things constellation.
• The delivery represents the second batch of nine satellites and a step ahead at creating a 100-satellite network.
• The constellation is scheduled to enter service by H2 2023.
• Apogeo CEO and co-founder Guido Parissenti. “Since our first deployment of satellites, data can be retrieved from IoT devices anywhere in the world. We anticipate full coverage will be achieved by 2027 with almost 100 satellites with successive launches approximately every 3 months.”
• MNTS stock price scaled 14% on Monday before market hours.

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