Virgin Galactic Holdings, Inc. /zigman2/quotes/208333884/composite SPCE +14.23% (“Virgin Galactic” or “the Company”) and its wholly owned subsidiary, The Spaceship Company (“TSC”), announced today the signing of a Space Act Agreement with NASA to facilitate the development of high speed technologies.
The Space Act Agreement (“SAA”), is set to enable and foster collaboration between NASA, Virgin Galactic and The Spaceship Company in order to advance the United States’ efforts to produce technically feasible, high Mach vehicles for potential civil applications.
Virgin Galactic believes that it is able to leverage its robust platform of advanced technologies, significant vertically integrated design, engineering and manufacturing capabilities, and thousands of hours of flight testing to develop additional aerospace applications. Together with its industry partners, Virgin Galactic is seeking to develop a vehicle for the next-generation of safe and efficient high speed air travel, with a focus on customer experience and environmental responsibility.
In partnership with NASA, Virgin Galactic believes there are significant opportunities to apply higher speeds to drive technological development to allow industries to adapt to the changing economic and ecological environment. The collaboration will aim to inform the development of national strategies using economic and technical foundations with a focus on sustainability.
George Whitesides, CEO of Virgin Galactic Holdings said: “This is the beginning of an important partnership for Virgin Galactic and The Spaceship Company that will support the future development of aviation technology. Virgin Galactic’s unique experience and innovative technology platform will, in partnership with the historic capabilities of NASA and other government agencies, enable the progression of new technical steps that will improve US competitiveness. We see this as an area with tremendous growth potential that we will continue to invest in, alongside our commercial spaceflight operations.”
Dr. James Kenyon, Director of the NASA Aeronautics Advanced Air Vehicles Program said: “This Space Act Agreement will enable NASA to collaborate with Virgin Galactic and The Spaceship Company to allow our organizations to take advantage of new tools, techniques, and technologies developed over the last 50 years and to explore potential new solutions for the commercial aviation industry.”
About Virgin Galactic
Virgin Galactic is a vertically-integrated aerospace company, pioneering human spaceflight for private individuals and researchers, as well as a manufacturer of advanced air and space vehicles. Using its proprietary and reusable technologies and supported by a distinctive, Virgin-branded customer experience, it is developing a spaceflight system designed to offer customers a unique, multi-day, transformative experience. This culminates in a spaceflight that includes views of Earth from space and several minutes of weightlessness that will launch from Spaceport America, New Mexico. Virgin Galactic and The Spaceship Company believe that one of the most exciting and significant opportunities of our time lies in the commercial exploration of space and the development of technology that will change the way we travel across the globe in the future. Together we are opening access to space to change the world for good.
This press release contains certain forward-looking statements within the meaning of federal securities laws with respect to Virgin Galactic Holdings, Inc. (the "Company"), including statements regarding the Company’s spaceflight systems, markets and expected performance. These forward-looking statements generally are identified by words such as “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this presentation, including but not limited to the factors, risks and uncertainties regarding the Company's business described in the documents filed by the Company from time to time with the Securities and Exchange Commission (the "SEC"). These filings identify and address other important risks and uncertainties that could cause the Company’s actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
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SOURCE: Virgin Galactic Holdings, Inc.
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