The company is developing an 88-foot-tall, two-stage launch vehicle named RS1 and an integrated ground system architecture called GS0, designed to provide a mobile, all-in-one launch system. ABL has also won significant contracts from the U.S. Space Force, including a $60 million contract last year to develop "responsive launch" capabilities. Despite a failed launch attempt a year ago, the company has made significant upgrades to both the rocket and the ground system in preparation for its next attempt.
Key takeaways:
- ABL Space Systems is seeking to raise up to $100 million in new funding, having already secured over $40 million, according to a recent filing with the U.S. Securities and Exchange Commission.
- The company is developing an 88-foot-tall, two-stage launch vehicle called RS1 and an integrated ground system architecture called GS0, designed to provide a mobile, all-in-one launch system.
- ABL has previously raised $420 million from investors including T. Rowe Price, Fidelity Management, and Lockheed Martin Ventures, and has also secured significant contracts from the U.S. Space Force.
- The company's first launch attempt a year ago resulted in the rocket crashing back to Earth around 10 seconds after liftoff, but major upgrades have been made to both the rocket and the ground system in preparation for the next attempt.