Momentus Inc. · NASDAQ:MNTS
Momentus — SPAC Merger (November 2020)
40 slides from Momentus's SPAC merger presentation, Nov 17, 2020
Slide 1: Momentus Analyst Day, November 17, 2020
November 17, 2020 Copyright 2020. Momentus Inc. Not Export Controlled. Any use, reproduction, or distribution without the express consent of Momentus is strictly prohibited.
Slide 2: Important Information About the Proposed Transaction
This Presentation relates to the potential business combination (the “Proposed Transaction”) between Stable Road Acquisition Corp. (“Stable Road”) and Momentus Inc. (“Momentus”). This Presentation shall not constitute a “solicitation” as defined in Section 14 of the Securities Exchange Act of 1934,
Slide 3: Financial Information and Non-GAAP Disclosures
The financial information and data contained in this Presentation is unaudited and does not conform to Regulation S-X promulgated under the Act. Accordingly, such information and data may not be included in, may be adjusted in or may be presented differently in, any proxy statement to be filed by St
Slide 4: Forward Looking Statements
Forward Looking Statements This Presentation includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “p
Slide 5: Momentus at a Glance
▪ ‒ – first hub and spoke model of space, providing last mile delivery in partnership with key launchers, such as SpaceX ‒ – hosted payload services that significantly decrease the cost of developing, launching and maintaining satellites ‒ – maintaining, repairing and refueling satellites in orbit ▪
Slide 6: Management Team
Founder of multiple space Director of the Space Boeing VP Global Sales and CTO at Maxar Space CFO at Formlabs technology companies Development Agency Marketing Infrastructure (f.k.a. SSL) CFO at Emcore Led multiple large Head of Tactical Technology Executive positions at ILS and
Slide 7: Vision and Mission
A future where humanity is equipped with all it needs to flourish throughout the solar system Provide the infrastructure services that support all industry beyond Earth Space economy worth ~$415B today and expected to grow to ~$1.4T1 over the next decade Copyright 2020. Momentus Inc. Not Export Cont
Slide 8: Space Infrastructure Services Roadmap
Energy & Data Processing Paving the way for future in-space energy production for in-space Space Transportation applications such as data processing, Manufacturing manufacturing Developing and operating extremely & Assembly capable (ΔV and power) space Building extremely large next platforms, which
Slide 9: Hub and spoke model of space
4) Transfer vehicle deorbits or refuels and returns to initial orbit for reuse. 3) Transfer vehicle delivers satellites to custom, final orbits Momentus makes access to space significantly more affordable by combining rideshare launch with low-cost last mile delivery through the hub and spoke model
Slide 10: Price estimates for small satellites
Price estimates for small satellites + + + Rideshare to initial orbit and Rideshare on large rocket Dedicated small rocket transfer with own propulsion and travel last mile with launch to final orbit system to final orbit Vigoride transfer vehicle Copyright Copyright2020. 2020.Momentus MomentusInc.
Slide 11: Hosted payload approach
MOMENTUS TRANSFER VEHICLE HOSTED PAYLOAD Momentus offers a unique, low-cost, modular approach for hosting customers' payloads in space Our transfer vehicles are designed to move customers' payloads to a specific orbit and stay connected to provide continual power, orbit keeping, orientation and comm
Slide 12: Traditional satellite platforms vs Vigoride platform
> 1kW of power and 1-2 km/sec delta-V capabilities Traditional satellite platforms Vigoride platform Copyright Copyright2020. 2020.Momentus MomentusInc. Inc.Not Export Controlled. Proprietary Any use, & Confidential. Not reproduction, or distribution Export Controlled. Any use, reproduction, or dist
Slide 13: Next generation in-orbit services vehicles
Next generation Momentus reusable vehicles, designed to be capable of performing proximity maneuvers, docking and refueling, and equipped with robotic arms, are anticipated to be well-suited for the entire range of in-orbit services. The services will include refueling or life extension for larger s
Slide 14: Company milestones and history
Vigoride launch on Falcon 9 Vigoride launch on Falcon 9 Vigoride launch on Falcon-9 Vigoride launch on Falcon-9 First Satellite-as-a-Service Contract with NASA and Lockheed Martin First Ardoride contract Announced business combination with Stable Road Current headcount at: ~100 people >$90M1 signed
Slide 15: Growth in number of satellites
2010 2020 By 2030 70 1,000+ 10,000+ Satellites Satellites Satellites* Mid-sized rockets Mix of large, Super-large rockets launch mid-sized mid-sized and launch the majority spacecrafts into many small rockets of the mass to space orbits Copyright 2020. Momentus Inc. Not Export Controlled. Any use, r
Slide 16: Rockets are getting bigger and cheaper
ROCKETS ARE GETTING BIGGER AND CHEAPER per kg Rocket sizes vs. cost (cost per kg to LEO)1 per kg Starship $100,000 2022 per kg New Glenn 2021 per kg Falcon-9 $10,000 2010 Soyuz 2.1 1966 Rocket capacity to LEO, kg $1,000 8,000 kg 16,000 kg 45,000 kg 150,000 kg 10 100 1000 10 000 100 000 Copyright 202
Slide 17: The smallsat market is expanding rapidly
200,000 Smallsat to LEO TAM, ($M) Smallsat Mass to LEO, (kg) 1,500 150,000 100,000 1,000 50,000 500 0 2018 2020 2022 2024 0 2018 2020 2022 2024 THE SMALLSAT MARKET IS EXPANDING RAPIDLY The number of launched smallsats (mass < 500 kg) grew 3X over the last four TAM and launched mass calculated based
Slide 18: Beyond geosynchronous orbit space transportation market
BEYOND GEOSYNCHRONOUS ORBIT $40B SPACE TRANSPORTATION MARKET Source: Stratistics Analysis GEOSYNCHRONOUS ORBIT VAN ALLEN BELT $30B LOW EARTH ORBIT $20B VAN ALLEN BELT $10B 0 MEDIUM EARTH ORBIT 2018 2020 2022 2024 2026 Copyright 2020. Momentus Inc. Not Export Controlled. Any use, reproduction, or dis
Slide 19: Copyright 2020. Momentus Inc. Not Export Controlled. Any use, reproduction, or distribution without the
Copyright 2020. Momentus Inc. Not Export Controlled. Any use, reproduction, or distribution Source: NSR Global Satellite Manufacturing and Launch Markets, 10th Edition, European without the express consent of Momentus is strictly prohibited. Space Agency 1. Satellite global manufacturing revenue 202
Slide 20: Vehicle capabilities 2020-2024
2020 2022 2024 Capabilities1 Up to 750 kg. Up to 4,000 kg. Up to 20,000 kg. LEO/MEO/GEO/HEO Orbits LEO MEO/GEO/HEO/Lunar Lunar, Deep Space Host Power Available Up to 1 kW Up to 10 kW Up to 100 kW Delta-V Up to 2 km/sec Up to 5 km/sec Up to 7 km/sec Space Transportation $1.5B $10B $37B TAM Forecast2
Slide 21: Microwave Electrothermal propulsion technology
MICROWAVE ELECTROTHERMAL (MET) TECHNOLOGY Scaleable • Larger engines are even more efficient and have higher ISP Our propulsion was built ground-up to be low-cost, Throttleable Simple design uses off-the-shelf efficient, low risk, safe, easy to • Can vary thrust and ISP to optimize the trip time com
Slide 22: Flight test and development milestones
July 2019 January 20211 H1’2021 Q4’2021 First in-space test of MET thruster and feed Separation from launch vehicle, free-flying Multiple launches (2) with larger payload Provide full maneuvering capabilities system mode deployment of customers mass and volume Fly multiple vehicles (3) abo
Slide 23: Vehicle development and delivery status
Developed and built Developed and built Developed and built Developed and built Tested, flight-ready Flight Delivery Flight Delivery Developed, Build Developed H1 2021 October 2020 October 2020 in Process Development Flight Delivery Flight Delivery Flight Delivery December Complete Q3 Q2 2021 Q2 202
Slide 24: Price per kg vs delta-V and potential competitors
Potential competitors and year to market $150K $100K Price $/kg $50K $10K 100 m/sec 1,000 m/sec 2,500 m/sec 5,000 m/sec 10,000 m/sec Delta-V m/sec LEO LEO/MEO/HEO/Moon & Beyond Copyright 2020. Momentus Inc. Not Export Controlled. Any use, reproduction, or distribution without the express consent of
Slide 25: Copyright 2020. Momentus Inc. Not Export Controlled. Any use, reproduction, or distribution without the
Copyright 2020. Momentus Inc. Not Export Controlled. Any use, reproduction, or distribution without the express consent of Momentus is strictly prohibited. 25
Slide 26: Customer momentum and pipeline
▪ Significant momentum from rapidly expanding smallsat market seeking low cost and regular launch access to LEO ▪ Customers include satellite operators, satellite manufacturers, launch providers, defense primes and government agencies ▪ ~$230M in proposals submitted and / or under ~5% ~10% Satellite
Slide 27: Signed launch contracts
▪ To launch a demo Cubesat ▪ To launch Gran System’s 2U (Gossamer) to SSO orbit in Q1 2021, CubeSat NUTSAT in Jan. 2021 with further options to fly a constellation of 3U Cubesats ▪ To arrange the 2021 launch of two satellites and to deliver to their ▪ To transport the Pathfinder Cubesat to LEO in H1
Slide 28: Sen customer case
Sen is a British space company aiming to establish ultra-HD real- Vigoride orbital transfer vehicles to carry Sen’s satellites to sun- time video streaming to billions of people across the globe synchronous orbit aboard SpaceX Falcon 9 rockets Content consists of time-sensitive information per
Slide 29: NASA Tipping Point and Lockheed Martin
l l • NASA announces $370M investment with 14 U.S. partners that will demonstrate and mature space technologies to forge a path to sustainable Artemis operations on the moon • Lockheed Martin received $89.7M from this Tipping Point solicitation to complete an in-space demonstration mission using liq
Slide 30: Projected missions by vehicle
Vigoride 6 8 16 24 30 38 47 Ardoride - 1 2 6 11 17 22 Fervoride - - - 1 4 8 12 Total 6 9 18 31 45 63 81 Vigoride - 2 8 16 24 36 54 Ardoride - - 1 2 8 16 24 Fervoride - - - - 2 4 8 Total 2 9 18 34 56 86 Vigoride - - 2 6 26 52 88 Ardoride - - - - 2 8 22 Fervoride - - - - - - - Total 2 6 28 60 110 Copy
Slide 31: Unit economics per kg
~$15,000 ~$15,000 E ~$10,000 (~$3,500) ~$9,200 E (~$5,000) (~$1,500) A (~$400) (~$400) ~$7,700 A (~$1,000) D (~$500) (~$400) (~$2,000) ~$6,000 C (~$400) A D B C (~$2,000) Customer Launch Production Labor Unit Customer Launch Propellant Production Labor Unit Customer Launch Propellant Production Labo
Slide 32: Copyright 2020. Momentus Inc. Not Export Controlled. Any use, reproduction, or distribution without the
+ Copyright 2020. Momentus Inc. Not Export Controlled. Any use, reproduction, or distribution without the express consent of Momentus is strictly prohibited. 32
Slide 33: Revenue projections by service
($ in millions) 2020E 2021E 2022E 2023E 2024E 2025E 2026E 2027E ($ in millions) 2020E 2021E 2022E 2023E 2024E 2025E 2026E 2027E Satellite Transportation Services $2.3 $20 $122 $435 $852 $1,089 $1,453 $1,717 Satellite Transportation Services $0.3 $12 $89 $277 $804 $998 $1,364 $1,717 Satellite as a Se
Slide 34: Solar power and data centers opportunity
SOLAR POWER AND DATA CENTERS ARE POTENTIALLY A $1.4T OPPORTUNITY BY 2050¹ 100B The largest source of energy in the Solar System is the Sun. Every sq. ft. of surface in space gets 10 times more energy in 10B space than on Earth Solar Power Traditional photovoltaic solar panels are 1B competitive in s
Slide 35: Asteroid / Moon mining opportunity
ASTEROID / MOON MINING IS POTENTIALLY A MASSIVE OPPORTUNITY The abundance of water in asteroids, the Moon and Mars, and ease of extraction and storage position water as the first H20 WATER MINING and primary extraterrestrial mined resource Iron and nickel as primary construction materials, as well a
Slide 36: Investment highlights
- First mover in offering in-space transportation & infrastructure services to the space economy - Rapid near-term expected growth driven by disruptive tailwinds in commercial space - Breakthrough water-based propulsion technology - Significant customer traction and deep integration with industry le
Slide 37: Copyright 2020. Momentus Inc. Not Export Controlled. Any use, reproduction, or distribution without the
Copyright 2020. Momentus Inc. Not Export Controlled. Any use, reproduction, or distribution without the express consent of Momentus is strictly prohibited.
Slide 38: Copyright 2020. Momentus Inc. Not Export Controlled. Any use, reproduction, or distribution without the
Copyright 2020. Momentus Inc. Not Export Controlled. Any use, reproduction, or distribution without the express consent of Momentus is strictly prohibited.
Slide 39: Significant aerospace experience led by visionary founder
SIGNIFICANT AEROSPACE EXPERIENCE LED BY VISIONARY FOUNDER Visionary space entrepreneur and innovator. Mikhail founded Momentus in 2017 with an idea to enable industrialization in space He has more than 20 years of experience in industries ranging from manufacturing and retail to space technologies.
Slide 40: Board of directors
Founder of multiple space Boeing VP Global Sales Partner, Eschaton First Canadian to walk in Board Member, Princeton President, Chief technology companies and Marketing Opportunities Fund space while Astronaut for AstroPhysics Department; Operating Officer, and Led multiple large Exe