- Rocket Lab is in the final stages of closing an investigation into its most recent Electron launch, which failed midflight in September.
- It expects to resume Electron launches before the end of the year.
- The FAA, which is overseeing Rocket Lab’s failure investigation, authorized the company to resume Electron launches from its facility in New Zealand.
Rocket Lab expects to resume launches of its Electron vehicle before the end of the year, the company announced Wednesday.
The company is in the final stages of closing an investigation into its most recent Electron launch, which failed midflight in September. The Federal Aviation Administration, which is overseeing Rocket Lab’s failure investigation, authorized the company to resume Electron launches from its facility in New Zealand.
“Our investigation team with FAA oversight has worked around the clock since the moment of the anomaly to uncover all possible root causes, replicate them in test, and determine a path for corrective actions to avoid similar failure modes in future. We look forward to sharing the details of the review once it is fully complete,” Rocket Lab CEO Peter Beck said in a statement.
Rocket Lab stock rose about 5% in after-hours trading from its close at $4.09 a share.
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The company expects its review “to be completed in the coming weeks.”
The September launch was Rocket Lab’s 41st of an Electron vehicle. The company ranks as the second-most active U.S. orbital rocket launcher after SpaceX.
Rocket Lab is scheduled to report third-quarter results after markets close Nov. 8.
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Source: Business - cnbc.com
