Al Root
Intuitive Machines investors cheered when the company's Odysseus moon lander made history. NASA has given them another reason to hoot.
Wednesday, Intuitive announced the National Aeronautics and Space Administration selected it to compete in the "Lunar Terrain Vehicle Services Feasibility Assessment." Intuitive has been given $30 million to develop a moon vehicle.
Intuitive stock is up 6.5% in premarket trading Thursday, while S&P 500 and Nasdaq Composite futures are up 0.5% and 0.6%, respectively.
Coming into Thursday trading, Intuitive stock was up about 134% year to date. Most of the gains have been tied to Intuitive's successful moon landing in late February. The space start-up returned America to the moon for the first time in some 50 years.
Intuitive's moon-vehicle team includes Boeing, Northrop Grumman, and Michelin, as well as Austrian vehicle systems and engineering company AVL.
"Our global team is on a path to provide essential lunar infrastructure services to NASA in a project that would allow the Company to retain ownership of the vehicle for commercial utilization during periods of non-NASA activity over approximately 10 years of lunar-surface activity, " said Intuitive Machines CEO Steve Altemus in a news release.
The moon is heating up. That's good for Intuitive.
Write to Al Root at allen.root@dowjones.com
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(END) Dow Jones Newswires
April 04, 2024 09:38 ET (13:38 GMT)
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