Terran Orbital Customer Rivada Meets Rigorous Review for International Telecommunications Union (ITU) Waiver to Deploy Constellation (Image Credit: Rivada Space Networks)
U.N. Regulator Finds Rivada Meets Criteria to Launch Satellite Constellations Beginning 2026
BOCA RATON, Fla., July 6, 2023 – On Thursday, Terran Orbital Corporation (NYSE: LLAP) congratulated its customer Rivada Space Networks for receiving a waiver from regulators at the International Telecommunications Union.
Per a July 5, 2023 Rivada press release, the regulator’s waiver process sought evidence of Rivada’s financing for the project and information regarding satellite manufacturing and launch contracts with its key vendors, including Terran Orbital. The ITU waived a requirement for Rivada to put the first 10% of its planned satellite constellation into orbit by September 2023.
The waiver is also a significant milestone for Terran Orbital, allowing it to continue the development and manufacture of its first tranche of satellites for Rivada, under a contract the two companies signed in February 2023. The $2.4 billion contract calls for Terran Orbital to design and build 300 satellites, each weighing approximately 500 kilograms, with Rivada holding an option for a second tranche of 300 satellites.
Rivada’s two planned LEO constellations will comprise a communications network it calls the OuterNET. The program aims to produce a global network of laser-connected non-geostationary orbit satellites to provide secure, global, end-to-end enterprise-grade data connectivity with low latency for a host of customers in the telecom, enterprise, maritime, energy and government services sectors.
Terran Orbital Chairman and CEO Marc Bell said, “Terran Orbital congratulates Rivada on meeting the ITU’s stringent waiver review requirements. Terran Orbital is working with Rivada to forge a new market for low-Earth orbit satellites that provide fast, dependable telecommunications services for various enterprise and government customers across markets and countries.”
About Terran Orbital
Terran Orbital is a leading manufacturer of satellite products primarily serving the aerospace and defense industries. Terran Orbital provides end-to-end satellite solutions by combining satellite design, production, launch planning, mission operations and on-orbit support to meet the needs of the most demanding military, civil and commercial customers. Learn more at www.terranorbital.com.
This press release contains, and Terran Orbital’s officers and representatives may from time to time make other public written and verbal announcements that contain, “forward-looking statements” for purposes of the federal securities laws. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. All statements, other than statements of present or historical facts, contained in this press release, regarding our business strategy, future operations and markets in which we operate or plan to operate, prospects, expectations and the expectations of our customers, estimates, plans and objectives of management are forward-looking statements. 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