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Rocket Lab has announced a new contract with the Institute for Q-shu Pioneers of Space (iQPS) to launch its QPS-SAR-5 satellite. This comes after the bankruptcy of rival launch company Virgin Orbit, which was originally set to launch the satellite. The launch, named “The Moon God Awakens,” is scheduled for September from Launch Complex 1 in New Zealand.

The QPS-SAR-5 satellite was initially planned to launch on Virgin Orbit’s LauncherOne rocket, but due to the company’s bankruptcy, the launch did not occur. In the statement, Rocket Lab CEO Peter Beck highlighted that the Electron rocket is ideal for customers seeking dedicated launches on a rapid timeline.

iQPS CEO Shunsuke Onishi expressed gratitude towards Rocket Lab for arranging the new launch contract swiftly, emphasizing the importance of deploying the satellites into orbit promptly.

iQPS faced previous setbacks with its satellite launches. Two satellites, QPS-SAR-3 and -4, were lost when a Japanese Epsilon rocket failed to reach orbit in October 2022. However, QPS-SAR-6 successfully reached orbit through SpaceX’s Transporter-8 mission in June. iQPS has plans for a 36-satellite constellation capable of generating high-resolution synthetic aperture radar (SAR) imagery.

Rocket Lab has seen increased success following Virgin Orbit’s bankruptcy. Other companies have experienced technical or financial struggles, leaving Rocket Lab as a primary choice for dedicated smallsat launches.

Apart from the iQPS contract, Rocket Lab has secured eight other Electron launches this month. These include contracts with BlackSky for five launches of Gen-3 imaging satellites starting in 2024, a NASA task order for two Electron launches of Earth science cubesats in May 2024, and a contract for the suborbital version of Electron, called HASTE.

While Rocket Lab has not disclosed the contract values, the company stated during an earnings call that it targets a launch cost of .5 million for the Electron. Rocket Lab remains on track to complete its forecasted 15 Electron launches this year, with seven already completed.

The upcoming Rocket Lab launch of the Capella Space SAR satellite, initially delayed due to unusual data from an engine sensor, has been rescheduled for August 23rd.

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