The aerospace manufacturer has successfully fired up one of the engines from a previously used booster.
Rocket Lab, an aerospace manufacturer and launch service provider based in Long Beach, California, has successfully reignited one Rutherford engine that had been used in a booster that launched in May. The company, which was founded by Peter Beck of New Zealand back in 2006, has taken an important leap forward in their mission to create a fully reusable rocket.
Back in May, the Rutherford engine that was successfully reignited this week was launched in a mission called "There and Back Again," in which Rocket Lab attempted to capture a descending booster using a helicopter. The Electron launch vehicle was powered by nine Rutherford engines, one of which has now been fired up, TechCrunch reported.
How Rocket Lab Reused a Booster Engine
While Rocket Lab had to drop the booster into the ocean because it was unsafe for the helicopter, scientists were able to retrieve it and inspect, clean, and repair it before performing several tests. Ultimately, the Rutherford engine from the used booster blasted for up to 200 seconds straight.
Rocket Lab is confident that the used Rutherford engine performs up to the same standards set for new engines. Beck remarked in the press release that Rocket Lab is now "on the right path" after successfully recovering components of the Rutherford engine and having it run "with minimal rework."
"If we can achieve this high level of performance from engine components recovered from the ocean, then I'm optimistic and incredibly excited about what we can do when we bring back dry engines under a helicopter next time," Beck added.
Building new engines for rocket launches is costly and takes much time and effort and many scientists are now working on new technology that would enable the reuse of boosters in a safe way.
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Rocket Lab Poised to Become a Leader in Rocket Launch Market
Rocket Lab's timely reignition of a used Rutherford engine is timely, as investment and financial services firm Cowen on Wednesday upgraded shares of the aerospace manufacturer from $6.50 to $8, CNBC reported. Cowen's analyst Cai von Rumohr announced on Wednesday that they were upgrading Rocket Lab "to Outperform for key execution milestones, an improved competitive position, and benefits from Russian sanctions."
These are expected to result in an estimated revenue growth of 35% to 40 and positive free cash flow in 2024. Not only is Rocket Lab a leader in the launch market, but it also holds the best US launch record next to Elon Musk's SpaceX. Cowen believes that Rocket Lab is "most likely to achieve financial success" because of its demonstrated successful launches, low-cost designs that are reusable, and product growth plans. Rocket Lab also currently has $441 million in net cash.
Sanctions on Russia, which have banned competitors such as Soyuz and NOC's Antares, are believed to also contribute to the increased demand for Rocket Lab's Electron, which provides roughly the same payload capacity as the Russian rockets. Cowen attributes Rocket Lab's long-term success to its strong performance, close client relationships, and returning customers.
