Shares of Intuitive Machines Inc (NASDAQ:LUNR) are trading higher on Tuesday after the company announced that NASA’s Jet Propulsion Laboratory selected it to provide the spacecraft platform and system-level integration for FALCON-RADAR.
- Intuitive Machines shares are powering higher. What’s fueling LUNR momentum?
Intuitive Machines Selected to Provide Spacecraft Platform
Intuitive Machines was selected by NASA’s Jet Propulsion Laboratory to provide the spacecraft platform and system-level integration for an Earth observation mission called FALCON-RADAR.
FALCON-RADAR will fly on Intuitive Machines’ IM 300 and study clouds, convection and light precipitation from space. Launch is targeted for no earlier than 2029.
“Our reliable and modular platforms align with NASA’s goal of delivering more science on faster timelines,” said Steve Altemus, CEO of Intuitive Machines.
The award is the company’s third NASA Earth science mission in six months. The FALCON-RADAR spacecraft will be developed in collaboration with EAGLE-VSWIR, a NASA mission recently awarded to Intuitive Machines.
The selection expands Intuitive Machines’ business beyond lunar landers into Earth-observation satellites and shows demand for the company’s spacecraft manufacturing capabilities. Financial terms of the selection were not disclosed.
LUNR Shares Move Higher
LUNR Price Action: Intuitive Machines shares were up 7.61% at $10.60 at the time of publication on Tuesday, according to Benzinga Pro.
Image: courtesy of Intuitive Machines.
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