Huntington Beach, CA - Rocket Lab, a leading space technology company, has successfully conducted the first static-fire test of its Archimedes engine, a crucial step towards developing the Neutron reusable rocket. The test, which took place at NASA's Stennis Space Center in Mississippi, demonstrated the engine's capability to operate at 102% of its rated power.
Image Credit: Rocket lab
According to Peter Beck, Rocket Lab's CEO, the test marks a significant milestone in the development of Neutron, which is on track to launch by mid-2025. "Our approach was to put the flight engine on the stand and take it to full power. That buys down just all the risk," Beck said during an earnings call.
The Archimedes engine, designed to produce 165,000 pounds-force of thrust, will power the Neutron rocket, a medium-class reusable launch vehicle designed to compete with SpaceX's Falcon 9. Rocket Lab has made significant progress in developing Neutron, with production and qualification of flight hardware underway.
In addition to the Neutron program, Rocket Lab's existing Electron rocket has had a successful year, with nine launches so far in 2023. A tenth launch is scheduled for August 11, and the company expects to increase its launch rate in the final quarter of the year.
Rocket Lab reported a quarterly record revenue of $106.3 million, a 71% increase from the same quarter in 2022. However, the company also reported a net loss of $41.6 million and adjusted EBITDA loss of $21.2 million.
The successful test of the Archimedes engine marks a significant milestone for Rocket Lab and brings the company one step closer to launching its Neutron rocket. With its sights set on competing with SpaceX, Rocket Lab is poised to become a major player in the commercial space industry.
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