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Momentus’s goal is to be a space transportation and infrastructure service. Their main spacecraft is Vigoride, an in-space transfer and service vehicle that will be powered by a water plasma-based propulsion system.
Momentus space was a 2018 graduate of the Y Combinator program, it received $8.3 million of seed funding and then in 2019 claimed its Microwave Electrothermal Thruster (MET) was successfully tested in space; this claim was later refuted by the U.S. Securities and Exchange Commission. Come 2020 Momentus merged with a SPAC and was then valued it at $1.2 billion and like many a space SPAC flush with cash its valuation sailed high like a kite and then dropped like a stone.
It’s first demonstration was Vigoride-3, launched 2022 on SpaceX Transporter-5 Mission. Results and criticism are mixed.
Momentus is aptly named for its monumental share price initial valuation and fall from grace. First some fun facts: Momentus listed at $500, shot up to well over $1000 and is now at about $2, oops, now under $1 as of the afternoon on 12th January 2024. Depending on where you invested, Momentus is a monumental destroyer of space investor equity, or right now it may be correctly valued, meaning its innovation is correctly priced considering it is not alone in its field (space infrastructure provider) and the journey for all these space innovators has just begun.