BIG NEWS!!!!!!!!! Sierra prepare for go PUBLIC!!!Subscription Paywalled:https://www.bloomberg.com/news/articles/2024-02-01/sierra-space-hastens-ipo-groundwork-ahead-of-spaceplane-debutMod edit updated URL to updated permalink.
CNBCOvertime@CNBCOvertimeFor this week's #ManifestSpace @MorganLBrennan sat down with @SierraSpaceCo CEO Tom Vice to discuss the company's potential IPO and the key sectors it expects to disrupt here on Earth
At Sierra Space, AI is strategically segmented into three key domains to optimize its impact on our space operations. The first domain includes commercial solutions, which offer a range of AI tools designed to be deployed rapidly, which offer support functionality to team members and streamline administrative tasks while not requiring extensive training.The second domain focuses on custom solutions that derive insights from Sierra Space’s unique datasets, employing AI to leverage historical data for strategic foresight and informed human decision-making. These intelligent algorithms significantly reduce time and cost, outpacing traditional methods for engineering design optimization and efficiency.Lastly, the most advanced domain where AI comes to the forefront is with autonomous systems like those in the Dream Chaser spaceplane, granting spacecraft the ability to autonomously navigate to and dock with the International Space Station, while dynamically adapting to changing conditions in space. This adaptability extends to monitoring and tracking through real-time data analysis.
Sierra Space, a leading commercial space company and defense-tech prime that is Building a Platform in Space to Benefit Life on Earth® and protect economic freedom in the Orbital Age®, announced today the successful completion of Preliminary Design Review (PDR) for the missile warning and tracking satellites the company is developing for the Space Development Agency (SDA) under a prime contract valued at $740 million.The satellites are part of the SDA’s Proliferated Warfighter Space Architecture, specifically the Tranche 2 Tracking Layer, which is a segment of the Defense Department’s Low Earth Orbit constellation.“In response to the evolving threat environment, we are retooling our commercial capacity to focus on revitalizing the U.S. defense industrial base through innovative satellite and spacecraft systems technology,” said Tom Vice, CEO of Sierra Space. “Our company is focused on innovation at speed to support an entirely new era in National Security Space – at Sierra Space we care deeply for this planet and have the responsibility to protect it.”SDA awarded the contract to Sierra Space through an Other Transaction Authority (OTA) in January 2024 for the design, production, delivery, operations and sustainment of 16 missile warning and tracking satellites, as well as two (2) satellites for missile defense with fire control fidelity. Additionally, the agreement includes two operational ground segments.Sierra Space’s solution aims to enhance the capability to provide global, persistent indications, detection, warning, and tracking of conventional and advanced missile threats, including hypersonic missile systems. The company’s solution also offers preliminary missile defense capability by incorporating fire control quality sensors into the constellation. These sensors will generate fire control quality tracks that enable missile defense kill chains, a critical defense capability, to the warfighter.Since 2023, Sierra Space has secured $1.5 billion in national security and defense contracts for the production of 30 satellites, including the SDA’s Tranche 2 Tracking Layer deliverables. In addition, Sierra Space continues to make strides in its spacecraft systems business, boasting more than 20 active contracts for solar arrays and other components.Sierra Space will develop, integrate, and test its space vehicles at its satellite production facilities in Colorado.
I got a tip that Sierra Space CEO Tom Vice was fired this morning. I asked the company, and they say he retired, effective Dec. 31.
Tom Vice retired as of Dec. 31st. Here's a statement for you:After three and half years in the role, Tom Vice has retired as Sierra Space CEO as of the end of 2024 - we thank him for his leadership and wish him well in his retirement.Sierra Space has experienced substantial growth and success through several key defining points throughout its history, becoming a leader in the space industry with significant investments made since its inception.This year will be another defining point for us following the establishment of Sierra Space as a standalone company three and a half years ago and the additional major technology investments made for growth since then after a record capital raise.To ensure a smooth leadership transition while we identify a new CEO, Chairman of the Sierra Space Board of Directors, Fatih Ozmen will serve as interim CEO alongside Eren Omen as President.
<snip>QuoteI got a tip that Sierra Space CEO Tom Vice was fired this morning. I asked the company, and they say he retired, effective Dec. 31.<snip>
Sierra Space, a leading commercial space company and defense-tech prime that is Building a Platform in Space to Benefit Life on Earth® and protect economic freedom in the Orbital Age®, announced today a key development milestone for the company’s Resilient GPS (R-GPS) program, marked by the successful completion of Systems Requirements Review (SRR). The SRR completion comes after the program’s kickoff in September and is a notable moment for Sierra Space’s national security program, with the ultimate goal of benefiting civilians and military operations through the protection of U.S. satellites.GPS technology relies on satellite infrastructure and supports everything from ride-share and food delivery apps for civilians to critical navigation for military and defense operations. The increasing sophistication of adversarial threats, however, such as jamming and spoofing, necessitates advancements in GPS resilience. The U.S. Space Force’s (USSF) R-GPS program plans to address these challenges by integrating proliferated small satellites into the existing GPS architecture. Sierra Space’s expertise in small satellite technology and rapid deployment provides a competitive edge in achieving this goal.“The successful Systems Requirements Review of our R-GPS program is a proof point for Sierra Space technology and a notable commercial milestone with our DoD customers,” said Erik Daehler, Vice President of Defense, Satellites & Spacecraft Systems at Sierra Space. “We are focused on efficiency and speed of development to outpace adversaries. The quick turnaround of two months from R-GPS program launch to this next step of development is exactly the speed at which commercial space companies should be moving. We look forward to the next phase of our R-GPS program and getting our satellite technology into orbit.”
Optical and infrared sensor supplier Geost has filed a $17.1 million breach of contract lawsuit against Sierra Space, alleging the company reneged on an agreement to use Geost’s sensor payloads for missile-tracking satellites under a U.S. Space Force program.Geost, a subsidiary of LightRidge Solutions based in Arizona, filed the complaint on Jan. 4 in the U.S. District Court in Denver. The lawsuit accuses Sierra Space of engaging in subcontracting negotiations and encouraging Geost to pre-purchase materials, only to later abandon the deal in favor of a competing supplier, Leidos, after securing a $740 million contract from the Space Force’s Space Development Agency (SDA).
We successfully completed the test campaign for our VR35K-A upper stage engine, securing a $16M follow-on contract with the @AFResearchLab. This new engine, featuring our patented VORTEX® technology, delivers 35,000 lbs. of thrust with unprecedented efficiency and reliability. Press Release: https://www.sierraspace.com/press-releases/vortex-35000-lbf-engine-test-campaign/
Sierra Space@SierraSpaceCoSierra Space is teaming up with Honda and Tec-Masters to advance energy solutions in space. As the mission manager, Sierra Space will oversee the groundbreaking collaboration to test Honda’s high-differential pressure water electrolysis system aboard the International Space Station (ISS). This project is a significant step toward enabling sustainable human life on the lunar surface and advancing clean energy solutions for both space and Earth. Honda’s regenerative fuel cell system will continuously produce oxygen, hydrogen, and electricity, supporting human life on the Moon. Sierra Space will manage the mission, working with CASIS and NASA to transport materials aboard our Dream Chaser® spaceplane.
