Terran Orbital’s New 94,000 Square Foot Space Vehicle Assembly Facility in Irvine, CA Receives Certificate of Occupancy
26 July 2024 - 7:30AM
Business Wire
Today, Terran Orbital Corporation (NYSE: LLAP) (“Terran Orbital”
or the “Company”), a global leader in satellite-based solutions
primarily serving the aerospace and defense industries, announced
that on July 15, 2024, it received the certificate of occupancy for
its previously announced new assembly facility, located at 4
Goodyear in Irvine, California.
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Terran Orbital's New Facility. (Photo
Credit: Terran Orbital)
The facility spans 94,000 square feet and is situated on a
five-acre site. Upon final interior completion of construction and
outfitting, it will significantly increase Terran Orbital’s space
vehicle assembly, integration, and testing capabilities by over
three times the Company’s current capacity. All of the Company’s
space vehicle assembly will be transitioned to this new facility
enabling the dedication of Terran Orbital’s existing facilities to
the manufacturing of components and modules. This optimization will
increase the overall efficiency and capacity of Terran Orbital’s
entire production system and further facilitate the Company’s
vertical integration efforts.
“We are thrilled to be advancing toward the opening of our new
facility. It will truly be state-of-the-art, featuring advanced
robotics that will boost our capacity and accelerate our production
speed, giving us the ability to facilitate existing and new
contract awards,” stated Marc Bell, Co-Founder, Chairman, and Chief
Executive Officer.
With the certificate of occupancy secured on the building
construction, Terran Orbital will now commence the construction of
cleanrooms, targeting occupancy in Q1 2025.
Explore Industry-Leading Space Vehicle Platforms To learn
more about Terran Orbital’s industry-leading space vehicle
platforms and end-to-end mission support, visit: Terran Orbital
Space Vehicle Platforms.
About Terran Orbital Terran Orbital is a leading
manufacturer of satellite products primarily serving the aerospace
and defense industries. Terran Orbital provides end-to-end
satellite solutions by combining satellite design, production,
launch planning, mission operations, and on-orbit support to meet
the needs of the most demanding military, civil, and commercial
customers. Learn more at www.terranorbital.com.
Forward-Looking Statements This press release contains,
and the Company’s officers and representatives may from time to
time make other public written and verbal announcements that
contain, “forward-looking statements” for purposes of the federal
securities laws. We intend such forward-looking statements to be
covered by the safe harbor provisions for forward-looking
statements contained in the Private Securities Litigation Reform
Act of 1995, Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities and Exchange Act of 1934, as
amended. All statements, other than statements of present or
historical facts, contained in this press release regarding the
assembly facility discussed in this press release, including the
statements relating to timing, capacity, capabilities, performance
and other expectations regarding the facility, future plans
regarding the facility, and expectations, plans and objectives of
management are forward-looking statements. Forward-looking
statements are typically identified by such words as “plan,”
“believe,” “expect,” “anticipate,” “intend,” “outlook, “estimate,”
“forecast,” “project,” “continue,” “could,” “may,” “might,”
“possible,” “potential,” “predict,” “will,” “should,” “would” and
“could” and other similar words and expressions, but the absence of
these words does not mean that a statement is not forward-looking.
These forward-looking statements are based on management’s current
expectations. These statements are neither promises nor guarantees
and involve known and unknown risks, uncertainties and other
important factors that may cause actual results, performance or
achievements to be materially different from what is expressed or
implied by the forward-looking statements, including, but not
limited to: the anticipated timing for occupancy of the Goodyear
facility; our ability to transition our space vehicle assembly to
the new facility and utilize our existing space for the
manufacturing of components and modules; our ability to optimize
the overall efficiency and capacity of our entire production
system; our ability to boost capacity and accelerate production
speed; and the risks disclosed in our Annual Report on Form 10-K
filed with the SEC on April 1, 2024 and the prospectus supplement
dated September 18, 2023 related to our Registration Statement on
Form S-3, as amended (File No. 333-271093), which was declared
effective by the SEC on April 18, 2023. There can be no assurance
that the future developments affecting us will be those that we
have anticipated, and we may not actually achieve the plans,
intentions or expectations disclosed in our forward-looking
statements, and you should not place undue reliance on our
forward-looking statements. Forward-looking statements speak only
as of the date they are made and, except as may be required under
applicable law, the Company undertakes no obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
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Media Contact Juliana Johnson Public Relations
pr@terranorbital.com 949-508-6404
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