Rocket Lab signs five-launch deal with European Internet of Things satellite company Kinéis

An Electron rocket gets ready to launch.

Rocket Lab

Rocket Lab signed a five-launch contract with European satellite data company Kinéis, in a deal that adds to the space company’s backlog.

Kinéis is building an Internet of Things connectivity constellation with 25 satellites, all of which will be launched to orbit by Rocket Lab’s Electron vehicle. The Kinéis missions are scheduled to begin launching in the second quarter of 2023.

“It’s a very sophisticated customer, a very sophisticated spacecraft with really tough requirements … Electron’s demonstrated orbital accuracy and insertion enables this constellation to be launched like this,” Rocket Lab CEO Peter Beck told CNBC.

The Kinéis deal is the latest multi-launch win for Rocket Lab, as the company earlier this year announced a contract with satellite imagery company BlackSky for five launches – and Beck sees a trend of bulk launch buying.

“We see this as continuing and there will be more news to follow,” Beck told CNBC.

Beck’s company has a pipeline of $50 million in contracts under negotiation, according to an investor presentation in August, with another $244 million in the proposal stage.

Rocket Lab is scheduled to report second-quarter results after the market close on Wednesday, the company’s inaugural quarterly report since going public late last month.

Become a smarter investor with CNBC Pro.
Get stock picks, analyst calls, exclusive interviews and access to CNBC TV. 
Sign up to start a free trial today.