Intuitive Machines Historic IM-1 Mission Success: American Ingenuity Never Gives Up

HOUSTON, Feb. 29, 2024 (GLOBE NEWSWIRE) -- Intuitive Machines, Inc. (Nasdaq: LUNR, LUNRW) (“Intuitive Machines”) (“Company”), a leading space exploration, infrastructure, and services company, today announced the completion of science and data transmission for all NASA and commercial payloads onboard Odysseus, the Nova-C class lunar lander, after the successful February 22 soft landing on the south pole region of the Moon.

Intuitive Machines CEO Steve Altemus said, “Spaceflight’s unique challenges are conquered on Earth but mastered in space. Our now proven robust lunar program, a national asset, feeds directly into our second and third missions. This success drives our relentless pursuit of performance excellence to benefit the entire industry.”

Intuitive Machines achieved these marquee accomplishments in the Company’s first attempt to land on the Moon:

• Successfully soft-landed the Company’s Nova-C class lunar lander, Odysseus, on the Moon, marking the United States’ first lunar landing in over 50 years since Apollo 17
• Validated the performance of the Company’s proprietary liquid methane and liquid oxygen propulsion system through the first-ever deep space ignition, followed by multiple restarts, repeatedly providing successful spacecraft maneuvers
• Became the first commercial-sector company and NASA CLPS (Commercial Lunar Payload Services) provider to successfully land and transmit scientific data to and from the Moon
• Landed Odysseus, farther south than any vehicle in the world has ever soft-landed on the Moon, which we believe is significant given NASA’s $93B Artemis Campaign is targeting the region for human missions
• Traveled over 600,000 miles and softly landed less than one mile from its intended Malapert A landing region
• Transmitted over 350 megabytes of science and engineering data, which was collected across all payloads; NASA confirms mission success
• Exceeded one of the mission objectives to operate 144 hours on the lunar surface and entered standby mode on February 29, 2024, as we await two to three weeks for the next lunar day and a potential for Odysseus’ revival
• Fundamentally disrupted the economics of landing on the Moon through a fixed-price performance contract, demonstrating unprecedented economics and efficiency to commercial customers and NASA

Accomplishing the IM-1 mission required Intuitive Machines to integrate on a global scale. Radio astronomy dishes spread across a dozen countries, international hardware providers, and the strength of the United States domestic supply chain across more than 50 congressional districts were paramount in the IM-1 mission success.

Mr. Altemus continued, “Before this mission, we had an absolute sense of humility and relied on our technical excellence and years of experience to triumph and persevere throughout all the challenges we faced during the mission. Following our unequivocal success, I am emboldened for the future of the U.S. and international lunar economy and Intuitive Machines' future as we believe we can win, execute, and pioneer the future of the cislunar market.”

About Intuitive Machines

Intuitive Machines is a diversified space company focused on space exploration. Intuitive Machines supplies space products and services to support sustained robotic and human exploration to the Moon, Mars, and beyond. Intuitive Machines’ products and services are offered through its four business units: Lunar Access Services, Orbital Services, Lunar Data Services, and Space Products and Infrastructure. For more information, please visit intuitivemachines.com.

Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking. These forward-looking statements generally are identified by the words such as “anticipate,” “believe,” “continue,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “strive,” “would,” but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include but are not limited to statements regarding: our expectations, results and plans relating to our future missions to the Moon and future awards. These forward-looking statements reflect the Company’s expectations based upon currently available information and data. Our actual results, performance or achievements may differ materially from those expressed or implied by the forward-looking statements, and you are cautioned not to place undue reliance on these forward-looking statements. The factors detailed under the section titled Part I, Item 1A. Risk Factors of our Annual Report on Form 10-K for the fiscal year ended December 31, 2022, the section titled Part I, Item 2, Management's Discussion and Analysis of Financial Condition and Results of Operations and the section titled Part II. Item 1A. “Risk Factors” in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2023, could cause actual outcomes or results to differ materially from those indicated by the forward-looking statements in this press release, which are accessible on the SEC's website at www.sec.gov and the Investors section of our website at www.investors.intuitivemachines.com.

These forward-looking statements are based on information available as of the date of this press release and current expectations, forecasts, and assumptions, and involve a number of judgments, risks, and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities laws.

Contacts

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investors@intuitivemachines.com

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