Terran Orbital Inks $2.4B Contract with Rivada Networks for 300 Low-Earth Orbit Satellites

Ryan Epps, Tech Times 23 February 2023, 06:02 am

Announced in a press release early on Febuary 22nd, satellite-construction firm Terran Orbital has nabbed a hefty chunk of change from Rivada Space Networks, totally a whopping $2.4 billion for the construction, integration, and deployment of special spacecraft. The 288 low-earth orbit satellites, in addition to the 12 spare, will weigh around 500kg and begin deployment by 2025.

The project will be headed by Terran Orbital subsidiary Tyvak Nano-Satellite Systems, which will be the primary contractor designing and manufacturing the spacecraft. Tyvak will also be responsible for fully integrating and testing Rivada's communication payload, with some on-earth development being instituted, as well.

US-based Rivada Networks is a wireless communications company that spans both the North and South Americas, as well as Europe, leveraging satellite and terrestrial communications.

Founded in 2004 by Declan Ganley, with financial backing from the likes of Peter Thiel, Rivada has much of its resources tied to Department of Homeland Security contracts, as well as a supposed 5G network that would run on the Pentagon's mid-band spectrum.

In the last several months, Rivada has found itself at the forefront of headlines, with news of a quantum encryption upgrade, RFP satellite initialization, and even staff expansions, specifically for its Space Networks subsidiary. In late November 2022, Rivada Space Networks joined the Global Satellite Operators Association, which will entail the firm's continued commitment to space-based communication via aiding similar satellite operators in the industry.

Through the help of Terran Orbital, Rivada's global mesh network dreams may well become a reality with the planned introduction of 600 interconnected low earth orbit satellites, half of which will seemingly be supplied thus far by Terran Orbital's Tyvak. The constellation isn't set to be officially deployed until 2025 at the earliest, which will include four satellites per regulatory requiorements.

Terran Orbital has a well-known history in the satellite manufacturing realm, blasting into the starways back in November 2022 when it was awarded $100 million in investing funds from Lockheed Martin.

Co-founder, chairman, and CEO of Terran Orbital, Marc Bell, had some words on the partnership with Rivada, citing how it "will show why Terran Orbital continues to be a satellite manufacturer of choice for aerospace and defense companies worldiwde."

Following the news, Terran Orbital stock took a ride, as well, flying as high as 70%, resting just under $3 a share at closing. The firm's "still dramatically undervalued" stock, as Bell calls it to CNBC, has witnessed a less-than-stellar first year in trading, initially launching at a share price of $11.80.

As Terran and Rivada cozy up to some amazing highs, rivals like SpaceX continued to breed innovation with the likes of its first Starship orbital flight in March. The firm is in the throes of FAA license issues, which should be ironed out within the next several weeks, in addition to testing safety precautions, as witnessed in the more recent static fire.