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DeepSpace: Rocket Lab nails third Electron launch of 2019 as next rocket heads to launch pad

Rocket Lab's Electron rocket lifts off from Mahia Peninsula on June 29th for the company's third launch of 2019. (Rocket Lab)

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Welcome to the latest edition of DeepSpace! Each week, I’ll hand-craft this newsletter to give you a breakdown of what’s happening in the space industry and tell you what you need to know. 

On June 29th, startup Rocket Lab completed its third successful Electron rocket launch this year, placing roughly half a dozen small(ish) satellites in orbit as part of a dedicated mission for Seattle-based startup Spaceflight Industries.

Technically speaking, with three launches under its belt, Rocket Lab has now reached orbit more times this year than the United Launch Alliance’s (ULA) Atlas V and Delta IV rockets combined, despite the fact that the company conducted its first commercial launch just seven months ago. In other words, Rocket Lab is finding its stride with Electron at an unprecedented speed and may be able to complete its tenth successful orbital launch less than two years after the company first reached orbit (January 2018). June 29th’s launch is just the latest in a string of impressive successes for Rocket Lab and the company doesn’t appear to be slowing down any time soon.



Electron Flight 7: “Make It Rain”

  • A tongue-in-cheek reference to the stereotype that it rains constantly in Seattle, home of launch contractor Spaceflight Industries, Electron Flight 7 was a commercial rideshare mission that included six publicly manifested satellites and at least one classified payload.
    • Altogether, the payload mass was reported by Rocket Lab to be roughly 80 kg (175 lb). Aside from marking the orbital debut of Australia’s Melbourne Space Program, Flight 7’s main passenger – manifested via SpaceX – was BlackSky’s ~56 kg (125 lb), dishwasher-sized Global 3 satellite, the third of its kind to reach orbit.
    • BlackSky’s ultimate goal is to build a full constellation of at least 60 Global satellites, each capable of delivering >1000 images with an impressive resolution of ~1m/pixel. The first four (including Global 3) were actually built by Spaceflight itself, but the 60-satellite constellation is to be produced at LeoStella’s recently-inaugurated Seattle factory and replaced every few years.
 

Attached above black, rectangular cubesat dispensers is BlackSky’s minifridge-sized Global 3 satellite (top), encapsulated inside Electron’s carbon fiber fairing soon after (left). Electron lifted off (right) on June 28th (June 29th local time) and was greeted by a spectacular sunset-lit view of its launch site, located on New Zealand’s Mahia Peninsula. (Rocket Lab)

  • It can be all but guaranteed that BlackSky (or LeoStella) will return to Rocket Lab for future Global satellite launch contracts, perhaps flying 2-3 spacecraft at a time to expedite constellation completion and lower the overall cost of getting it into orbit.
  • Carrying a price tag of roughly $6M, Electron is capable of placing 150 kg (330 lb) into a 500 km (310 mi) sun-synchronous orbit (SSO). 3 Global satellites would likely push Electron to its limits, while 2 would leave plenty of space for additional copassenger spacecraft and thus opportunities to lower the overall cost to BlackSky.
  • Some 50 minutes after lifting off from New Zealand, Electron’s third stage – a “kick stage” powered by a custom-built Curie engine – ignited and burned for about 45 seconds, circularizing its orbit. A few minutes later, all 6-7+ spacecraft were successfully deployed, leaving the kick stage to once again lower its orbit to facilitate a quick and controlled reentry, minimizing space debris.

Onto the next one

  • Pictured at the bottom of the gallery above, Rocket Lab – much like SpaceX – completed a full static fire test of Flight 8’s Electron upper stage, the last major test milestone standing in the way of Electron’s next launch. Located in Auckland, NZ, the upper stage will now be shipped around 300 mi (500 km) south to Rocket Lab’s Mahia Peninsula-based Launch Complex 1 (LC-1).
  • According to Rocket Lab’s website, Electron Flight 8 is scheduled no earlier than (NET) August 2019, although the company’s Flight 7 webcast host indicated that it could happen as early as July.
    • Either way, it appears that Rocket Lab is well on its way to achieving a bimonthly average launch cadence this year.
    • The company’s goal is to reach a monthly launch cadence by the end of the year, roughly halving its current 2019 average of ~50 days between launches.
  • Ultimately, Rocket Lab’s future continues to look brighter month by month. As the only commercial smallsat launch operator currently serving customers, the company is essentially early to the party and has the market cornered by simply being first. Every launch will provide experience and get the company closer to profitability and even greater launch cadences, perhaps as high as 2-3x per month by the end of 2020.
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– Eric

Eric Ralph is Teslarati's senior spaceflight reporter and has been covering the industry in some capacity for almost half a decade, largely spurred in 2016 by a trip to Mexico to watch Elon Musk reveal SpaceX's plans for Mars in person. Aside from spreading interest and excitement about spaceflight far and wide, his primary goal is to cover humanity's ongoing efforts to expand beyond Earth to the Moon, Mars, and elsewhere.

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The Boring Company’s newest tunnel vehicle runs on Tesla parts and no one is driving it

The Boring Company’s new tunnel vehicle runs on Tesla Model 3 batteries and drive units.

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The Boring Company just introduced a new piece of hardware, and it runs on parts pulled straight from a Tesla showroom. Liner Truck 3, unveiled in a post from the tunneling company’s official X account, is an all electric vehicle built around Tesla Model 3 battery packs and drive units, purpose built to move concrete tunnel segments to the boring machine face without a single person underground.

The job itself is unglamorous but critical. Each precast segment run weighs more than 22,000 pounds, roughly the load of a full cement mixer, and Liner Truck 3 hauls that weight repeatedly between the surface staging area and wherever the Prufrock machine happens to be cutting.

The Boring Company said Liner Truck 3 is piloted remotely out of its Global Operations Control Center in Texas, extending the Zero-People-In-Tunnel approach the company has spent years building toward. An earlier version of a ZPIT liner truck was already tested at the company’s Bastrop, Texas research tunnels, and a factory tour released last month showed an employee flying a fully loaded liner truck with a PlayStation controller. Liner Truck 3 looks like the production version of that same idea, cleaned up and pushed into daily use.

The timing lines up with a company digging in more places than it ever has before. The Boring Company now has multiple Prufrock machines active or arriving in Nashville, where Music City Loop construction has been accelerating since February, and its Vegas Loop network keeps adding tunnel mileage on a near monthly basis. Every one of those projects depends on getting concrete segments to the cutting face fast enough to keep the boring machine from idling, which is exactly the bottleneck Liner Truck 3 is designed to remove.

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It also reinforces something Tesla owners have watched happen gradually across Musk’s companies: passenger car hardware finding a second life in heavy equipment. Model 3 drive units already move people through the Vegas Loop, and now the same components are hauling concrete underground in Nashville and wherever The Boring Company digs next. Whether that kind of component reuse extends further into TBC’s equipment lineup, or into other Musk owned industrial hardware, is the next thing worth watching.

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Elon Musk and SpaceX shrugs off the trading day Wall Street feared most

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Rendering of Elon Musk overlooking a Starship fleet (Credit: Grok)

SpaceX stock did the opposite of what most of Wall Street expected this week, when the day designed to be its most dangerous turned into a rally, and the rally kept going.

Thursday marked the first major lockup expiration since SpaceX’s June IPO, making roughly 911.5 million insider held shares eligible to trade for the first time, more than doubling the company’s public float. Analysts and short sellers had spent weeks bracing for a flood of selling, especially after the stock fell 13 percent following its first earnings report as a public company on Tuesday. Instead, shares rose 6.1 percent Thursday to close at $114.92, and by Friday they were trading near $129, up more than another 12 percent on the day.

SpaceX shorts get warned by Musk ally, echoing Tesla’s early struggles

The setup made the outcome notable. Short interest had climbed to roughly 34 percent of the float heading into earnings, among the highest of any large cap stock, with about 95 percent of available shares to borrow already on loan. CEO Elon Musk warned short sellers twice in the weeks before the lockup, writing on X that “the survival probability of firms who maintain a significant short position in SpaceX over time is very low,” then following up on the morning of earnings with “I try to warn them, but they just double down.”

When the newly unlocked shares hit the market and the selloff never showed up, some of that short position appears to have started unwinding. TipRanks reported that options activity shifted toward bullish strategies like put selling and risk reversals following the rally, with roughly $600 million in options premium trading Thursday alone. Retail buyers also stepped in during the earnings dip, according to Vanda Research.

The fundamentals behind the stock have not changed much in a week. SpaceX’s revenue nearly doubled year over year to $7.8 billion, with Starlink subscribers doubling to 12 million and the company’s AI segment growing 247 percent. What spooked investors on Tuesday was the spending side. Capital expenditures jumped to more than $18 billion for the quarter, up from $2.8 billion a year earlier, with AI investment alone rising from $749 million to $15.8 billion. Wall Street remains split on whether that spending is building infrastructure SpaceX needs or outrunning what the business can currently support, a debate Teslarati has tracked since shares first came under pressure.

None of that resolves the bigger question hanging over the stock. Thursday’s release was only the first of nine staggered lockup tranches, with roughly $800 billion worth of additional shares scheduled to become eligible through October, and Musk’s own stake stays locked until next June. If this week is any indication, the market is treating that supply as something it can absorb rather than something to fear, at least for now.

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The Boring Company’s newest Vegas Station has a permit quietly waiting behind it

Sahara Las Vegas opened a new Vegas Loop station, joining an exclusive two resort transit club.

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Sahara Las Vegas opened a new Vegas Loop station Thursday, giving The Boring Company’s underground transit system its northernmost stop yet on the Strip. The station sits at Sahara’s Paradise Road entrance, on the southeast corner of Las Vegas Boulevard and Sahara Avenue, and connects riders to the Las Vegas Convention Center, other Strip resorts on the network and, eventually, Harry Reid International Airport.

The addition makes Sahara the second resort, after Fontainebleau opened its own station in January, to get a stop built at street level rather than tucked into the property itself. Sahara now joins Westgate as the only two Strip resorts offering both a Vegas Loop station and a stop on the Las Vegas Monorail, giving guests two separate ways to get around without leaving the property.

The Boring Company just doubled its tunneling power in Nashville

The bigger news buried in Thursday’s announcement is what comes next. Boring Company has already secured its first permit to tunnel north of Sahara Avenue, extending the network beyond where it currently ends, even though permits to push the Loop toward downtown Las Vegas still haven’t been granted. Crews are also working on a two mile dual tunnel line running from Westgate to a planned station at 4744 Paradise Road, just north of Tropicana Avenue, that Las Vegas Convention and Visitors Authority CEO Steve Hill has said the company hopes to open in time for November’s Las Vegas Grand Prix.

Ridership has grown alongside the buildout. The Loop moved roughly 82,000 passengers during CONEXPO in early March, a total the company highlighted on its own X account at the time, and the system has now carried more than 4 million passengers through 11 open stations since it began running in 2021. The airport connector tunnels, meant to give the Loop a direct link to Harry Reid, have slipped past their original first quarter target and remain under construction, with Boring Company director Mike Baier saying that a full opening is still a few months out.

For Sahara, the calculation is straightforward. Convention traffic drives a large share of Loop ridership, and a station at the property’s front door gives conventiongoers one more reason to book rooms on the Strip’s north end instead of closer to the convention center itself.

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