Intuitive Machines gears up for second lunar expedition in 2024
Intuitive Machines, a pioneer in commercial lunar landings, is preparing for its second Moon mission this year. CEO Steve Altemus confirmed during a recent earnings call that the lunar lander design has been slightly tweaked following its maiden mission, IM-1. Despite a few hiccups with the landing that caused the lander to tip over, all essential components, engine, and subsystems were successfully put to the test.
NOVA-C set for another Moon journey
The upcoming mission, dubbed IM-2, will employ the same lander class, Nova-C, as used in the IM-1. This latest expedition will transport NASA payloads designed to probe water ice at the lunar south pole. The potential discovery of this resource could be harnessed for rocket fuel or to facilitate a sustainable lunar base for astronauts in future missions.
Lunar lander to receive minor tweaks for IM-2
Altemus has mentioned that only "a handful of adjustments" will be implemented on the second lander, characterizing these modifications as "fairly straightforward." One such tweak involves enhancing the laser rangefinder switch system, a navigational subsystem on the lander. The inaugural mission revealed that these rangefinders were non-operational due to a physical switch not being activated while still on Earth.
Mission's landing site and financial snapshot
The precise landing site for the IM-2 mission is yet to be determined by NASA, but it is likely to be on a ridge near Shackleton crater at the lunar south pole. Intuitive Machines concluded 2023 with $30.6 million in revenue and a cash balance of $4.5 million. However, following an institutional investor exercising $50.6 million in warrants and closing a $10 million strategic equity investment, the company's cash balance surged to nearly $55 million as of March 1, 2024.
Intuitive Machines anticipates potential NASA awards in 2024
Beyond the second Moon mission, 2024 is projected to be a pivotal year for Intuitive Machines as it anticipates decisions on potentially profitable NASA awards. These include the award for the Lunar Terrain Vehicle, set to be announced in the coming month, and the subsequent lunar lander contract under NASA's Commercial Lunar Payload Services program.
