The company’s LV0010 rocket is on the launch pad at Cape Canaveral, Florida ahead of NASA’s TROPICS-1 mission.
Astra
Shares of rocket maker Astra fell sharply on Monday after a weekend launch with NASA satellites did not reach orbit.
Astra’s LV0010 rocket took off Sunday from Launch Complex 46 at Cape Canaveral in Florida, carrying two satellites to NASA’s TROPICS-1 mission. The first part of the mission went as planned, but the engine at the top of the rocket soon shut down and the company was unable to deploy the satellites.
“We are reviewing flight data to determine the root cause of this anomaly and will provide additional information when available,” Astra wrote in a stock presentation.
Astra shares fell as much as 25% from their previous close of $ 2.02 per share. The TROPICS-1 mission represents the second failure of the company’s mission in three launches this year.
In a tweet, Astra CEO Chris Kemp noted that NASA must have in orbit four of the six TROPIC satellites planned to be successful, so “the next two launches must work.” TROPICS-1 was the first of three missions that NASA awarded Astra.
“Our team understands what’s at stake,” Kemp said.
The company’s vehicle is 43 feet tall and is considered a small rocket in the launch market. Astra’s goal is to launch as many of its small rockets as it can, with the goal of achieving a one-rocket rate per day by 2025, and further lower its price by $ 2.5 million.
Astra went public last year after completing a SPAC merger, raising funds to build the production of its small rockets, expand its facilities in Alameda, California, and grow its ship and port business lines. space.