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Investing.com -- Rocket Lab and Stoke Space Technologies Inc. have been awarded a substantial contract for the National Security Space (NSS) Launch Phase Three Lane One fiscal 2025 on-ramp. The contract, a firm-fixed-price, indefinite-delivery/indefinite-quantity agreement, has a maximum cumulative ceiling of $5,600,000,000.
Shares of Rocket Lab rose 7% after-hours Thursday following the news.
The contract tasks the two companies with delivering NSS payloads into their intended orbits. The specific location of performance will be determined at the task order level. The contract includes a four-year, two-month ordering period that will extend through June 2029, with an option for an additional ordering period of five years.
This award is the result of a competitive acquisition process. The solicitation was posted to SAM.gov and received a total of three offers. At the time of the award, fiscal 2025 space procurement funds in the amount of $10,000,000 are being obligated. This sum represents the cumulative amount for the minimum guarantee.
The Space Systems Command Assured Access to Space, located at the Los Angeles Air Force Base in El Segundo, California, is the contracting activity overseeing this agreement.
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