RKLB - Rocket Lab Inks Its Biggest Satellite Launch Contract Ever
2024-06-17 10:15:00 ET
The news around Rocket Lab USA (NASDAQ: RKLB) just keeps getting better and better.
Earlier this month, the satellite-launch company scored a bit of a coup when it parlayed a 2021 purchase of a tiny solar power company -- SolAero Holdings -- into nearly $50 million in U.S. CHIPS Act and other government subsidies. Solar cells are specialty semiconductors, and that means that SolAero's solar cells, tailored to produce electric power for spacecraft in orbit, are also chips the government can subsidize.
Abracadabra, Rocket Lab just made back $50 million of the $80 million it spent to buy SolAero, courtesy of U.S. taxpayers -- and even that wasn't the biggest news for Rocket Lab this month.
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Rocket Lab Inks Its Biggest Satellite Launch Contract Ever