SAN JOSE, Calif. - Momentus Inc. (NASDAQ: NASDAQ:MNTS) and Ascent Solar Technologies (NASDAQ: ASTI) revealed today their collaboration to market a new solar array solution. This partnership leverages Momentus's Tape Spring Solar Array (TASSA) technology and Ascent's lightweight photovoltaic modules to meet the growing demand for efficient and cost-effective solar power in space.
The joint effort aims to address the escalating production and deployment of satellites by offering arrays that promise lower costs, durability, and flexibility, while also providing the capability to generate significant power. The TASSA, which underwent a successful pathfinder demonstration in low-Earth orbit last year, is designed to enable small satellites to produce kilowatts of power without exceeding mass, thermal, or budget limits.
The next iteration of TASSA will include Ascent's Titan Modules, which are optimized for the space industry and expected to further reduce the cost per kilowatt of power. The arrays are also retractable and re-deployable, minimizing exposure to orbital hazards and potentially extending mission durations.
Ascent's CEO, Paul Warley, highlighted the resilience of their CIGS photovoltaic modules to radiation and degradation in space, emphasizing the benefits for mission designers in terms of end-of-life power and mass efficiency.
This announcement is based on a press release statement.
InvestingPro Insights
As Momentus Inc. (NASDAQ: MNTS) embarks on its collaboration with Ascent Solar Technologies, it's important to consider the financial health and market performance of the company, as these factors could influence the future success of their joint solar array solution.
InvestingPro Data metrics show a remarkable revenue growth for Momentus Inc. in the last twelve months as of Q3 2023, with an increase of 1121.23%. This explosive growth is a testament to the company's expanding market presence. Despite this, the company's gross profit margin remains high at 76.81%, reflecting an impressive ability to control costs relative to revenue.
On the other hand, the company's stock price has seen significant volatility, with a 1-year total return as of early 2024 at -98.15%, indicating a steep decline in investor confidence. This volatility is also reflected in the price being only 1.51% of its 52-week high, suggesting that the market may be undervaluing the company's potential or reacting to broader challenges faced by the firm.
InvestingPro Tips highlight that analysts predict sales growth for Momentus Inc. in the current year, which could be buoyed by innovative ventures like the TASSA technology. However, they also caution that the company is quickly burning through cash and, despite high gross profit margins, is not expected to be profitable this year. With a moderate level of debt, the company's financial strategy will be crucial in navigating the capital-intensive space technology industry.
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