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Space

Momentus Signs SDA Deal, But Risks Running Out of Funds

By Rachel Jewett

Thursday, August 17th, 2023

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Momentus Signs SDA Deal, But Risks Running Out of Funds

A rendering of Momentus’ Vigoride in-space shuttle. Photo: Momentus

The Space Development Agency (SDA) has awarded Momentus a small business innovation research (SBIR) award to tailor its orbital service vehicle for Department of Defense needs. However, the company faces dwindling cash reserves and must raise additional capital to continue operating. Momentus, whose CEO is former senior Pentagon policy official John Rood, released its second quarter financials on Monday, marking its first $1 million quarter, with $1.7 million in revenue. This was a major jump from revenue in the same time last year of…

Congress

House Republicans’ Blueprint For Reconciliation 3.0 Includes $60 Billion For Defense

House Republicans on Wednesday unveiled a blueprint for a third reconciliation bill that includes $60 billion for defense, a figure slightly below the Trump administration’s request to cover Iran war […]

Congress

Senate Dems Block Consideration Of FY ‘27 NDAA Over Iran War Concerns

Senate Democrats on Tuesday blocked a vote to advance consideration of the chamber’s $1.14 trillion fiscal year 2027 National Defense Authorization (NDAA). The procedural vote was 46-50, failing to reach […]

Congress

Concerns Raised At SASC Hearing On Unobligated Reconciliation Funds And Lack Of Updates On Iran War Cost

Members of the Senate Armed Services Committee (SASC) raised concerns at a hearing on Tuesday about the majority of funds in the $153 billion first reconciliation bill being unobligated thus […]

Unmanned Systems

CBO Says Upfront Costs To Protect Military Installations From Drones Between $1 Million And $74 Million

The initial costs to acquire and deploy counter-small unmanned aircraft system (C-sUAS) defenses at individual Defense Department installations are estimated at between $1.2 million and $73.6 million depending on the […]