CEDAR PARK, Texas, Nov. 14, 2016 /PRNewswire/ -- Firefly Space Systems, the Texas-based developer of dedicated launch vehicles for the small satellite market, announced today it has received letters of intent (LOI) in excess of projected launch capacity through 2021.
"The support from established and newspace satellite manufacturers following our recent announcement of financial difficulties has been tremendous. These LOI's demonstrate the market demand for the small satellite launch product that Firefly is developing," said Firefly co-Founder and CEO Dr. Thomas Markusic. Firefly received LOI's for 42 launches through the end of 2021, valued at over $300M. An additional 35 launches valued at over $280M have been requested through 2025. A total of 9 customers have submitted LOI's to Firefly for future launches. "Our customers' needs reflect the increasing market demand for small satellite launch capacity. They have unanimously encouraged Firefly to continue development of the Firefly Alpha vehicle as a critical component in the overall success of the emerging newspace industry," added Markusic. "We are in discussions with multiple potential financing partners to fund our ongoing development and will repay the faith our customers have shown by providing the lowest cost, highest frequency launch service in the world." ABOUT FIREFLY SPACE SYSTEMS Firefly is a small satellite launch company located in Cedar Park, TX which was created to provide low-cost, high-performance space launch capability for the under-served small satellite market, where secondary-payload launches are often the only option. The Firefly team consists of highly experienced aerospace engineers that have spent the better part of the past decade working at NASA and various New Space companies, including SpaceX, Blue Origin and Virgin Galactic. Simplified and optimized for least cost, and utilizing innovations such as a rethought engine design, Firefly has positioned itself to be the technological and cost effective solution leader for traditional manufacturers of small satellites for government agencies, earth observation, and constellations.