Despite the schedule delay, the company began testing the Archimedes engine
Rocket Lab has announced that it has begun testing its new Archimedes engine for use on the Neutron launch vehicle. The company also said Neutron's first launch is not expected until mid-2025.
Rocket Lab completed development of the Archimedes engine and installed it on a test facility in Mississippi. Testing of this engine, which runs on methane and liquid oxygen, has now begun. Before the static fire test, the necessary tests of the engine system are carried out.
The company previously planned the first launch of Neutron at the end of this year.
Peter Beck, chief executive of Rocket Lab, said the delay was not due to a specific technical problem. Engine development is a complex and lengthy process, as evidenced by the history of rocketry.
The company's engineers continue to make progress on other aspects of the Neutron program, including composite structures for the rocket and launch pad. The company plans to spend between $250,000,000 and $300,000,000 to develop Neutron.
While working on the Archimedes engine, Rocket Lab is actively working on other aspects of the Neutron project, such as developing composite structures for the rocket and launch pad. Planned development costs for Neutron are estimated to range from $250,000,000 to $300,000,000.
Another Electron launch vehicle has demonstrated high stability, having successfully withstood five launches this year. The next launch of this rocket is scheduled for May 22 and will be carried out as part of NASA's Earth exploration mission.
In a February report, the company forecast 22 Electron launches in 2024, including two suborbital launches, but due to customer delays, Peter Beck expressed doubts about the ability to complete all planned missions. He reported some changes to the manifests due to customers being late in preparing their satellites, and also expressed doubts about achieving the planned 22 launches, but emphasized the prospects for completing at least some of them.
In the first quarter of 2024, the company reported revenue of $92.8 million, up 69% from the same period the previous year. Although the company suffered a net loss of $44.3 million, this figure improved slightly from the previous year.