Rocket Lab completes spacecraft for NASA cryogenic fuel mission

LONG BEACH, Calif. - Rocket Lab Corporation (NASDAQ:RKLB), which has seen its stock surge nearly 500% over the past year according to InvestingPro data, announced Wednesday it has completed the Photon spacecraft for NASA’s LOXSAT mission and cleared the Systems Integration Review, allowing the project to proceed to payload integration.

The LOXSAT mission, scheduled to launch in early 2026 on Rocket Lab’s Electron vehicle, will demonstrate cryogenic fluid management technology in orbit. The project aims to inform the design of Cryo-Dock, a full-scale cryogenic propellant depot planned to be operational in low Earth orbit by 2030.

Rocket Lab is providing both the spacecraft and launch vehicle for the mission, which was contracted by Eta Space in 2020. The company will now move into environmental testing phase at its Long Beach, California headquarters before launching from its Complex 1 in New Zealand.

"With LOXSAT, we’re supporting a critical technology demonstration that will enable key steps toward making orbital propellant depots a reality," said Brad Clevenger, Vice President of Space Systems at Rocket Lab, according to the press release.

The mission will test the storage of liquid oxygen in a zero-loss configuration in space, addressing a key challenge with cryogenic propellants which can vaporize as temperatures rise. Successful demonstration could enable future in-orbit refueling capabilities for spacecraft.

Bill Notardonato, CEO of Eta Space, noted the company selected Rocket Lab for both its launch capabilities and spacecraft expertise.

The LOXSAT mission is sponsored by NASA’s Tipping Point program, which supports technologies that could advance human space exploration. The spacecraft is built on Rocket Lab’s Photon platform, which previously supported NASA’s CAPSTONE lunar mission in 2022. With its next earnings report due on November 7, investors can access detailed financial analysis and 12 additional ProTips through InvestingPro’s comprehensive research reports.

In other recent news, Rocket Lab USA has announced several significant developments. The company is set to launch its 74th Electron mission, named "The Nation God Navigates," for Japanese Earth imaging company iQPS, with the launch window opening on November 5, 2025, from its New Zealand facility. Additionally, Rocket Lab secured a direct contract with the Japan Aerospace Exploration Agency (JAXA) for two dedicated Electron launches, the first of which is scheduled for December 2025 and the second in 2026.

In terms of financial analysis, KeyBanc Capital Markets raised its price target for Rocket Lab to $75 from $50, maintaining an Overweight rating. This update followed meetings with Rocket Lab’s leadership at the Catalina Space Mixer event. Furthermore, Baird initiated coverage of Rocket Lab with an Outperform rating and set a price target of $83, highlighting the company’s 94% mission success rate as a testament to its operational capabilities. These recent developments underscore Rocket Lab’s growing presence and reliability in the space launch sector.

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