30, SolAero had $153 million worth of backlogged contracts it has yet to deliver on. In an investor presentation Tuesday, Rocket Lab said it expects SolAero to generate approximately $20 million in revenue per quarter. With this purchase, Rocket Lab is ensuring it will have access to durable power cells capable of standing up to the rigors of space travel - ahead of its competitors. Since then, their technologies have been in high demand. SolAero was the maker of the solar panels that powered NASA’s Mars lander Insight and the Ingenuity craft, which completed the first controlled flight and landing on Mars earlier this year. The transaction is expected to close by the first quarter of 2022.
Long Beach-based rocket maker and SpaceX competitor Rocket Lab agreed to pay $80 million to acquire SolAero, a New Mexico-based company that makes solar cells and panels to power devices in outer space.
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