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Wednesday, Jun 29, 2022

ABL Space Systems Leases Facility at Port of Long Beach

El Segundo-based aerospace company ABL Space Systems Inc. inked a deal with the Port of Long Beach to  build a spacecraft processing facility on premises.

Approved by the Long Beach Board of Harbor Commissioners on Oct. 28, the company will take over more than 8 acres of land and 1.3 acres of “submerged land” on the Port’s Pier T, adjacent to the Space Exploration Technologies Corp. facility in the port. ABL will also use the waterfront area for the delivery and shipping of its cargo. 

Financial information about the lease was not released.

“This is an innovative company on the cutting edge of private spacecraft technology, offering wider access to space,” Port of Long Beach Executive Director Mario Cordero said in a statement. “We’re very pleased to provide this land to ABL Space Systems.”

The company’s five-year lease at the port includes a more than 41,000-square-foot payload processing facility, a 14,600-square-foot warehouse and more than 25,000 square feet of office space.

The location was previously utilized by Sea Launch Co., a spacecraft launch company that closed in 2014. ABL Space Systems will utilize the location for vehicle processing, payload integration, and maritime operations to grow its global launches.

“This site is highly strategic for our growth,” Harry O’Hanley, chief executive of ABL Space Systems, said in a statement. “Maritime operations are key to scaling our launch capabilities globally.”  

Founded in 2017, ABL Space Systems is working to develop low-cost launch vehicles for the small satellite industry. The company aims to launch the RS1, its flagship rocket, for the first time by the end of 2021.

Just three days before the Port of Long Beach lease was approved, the company added $200 million to its Series B funding round, bringing its valuation to $2.4 billion. ABL plans to use the funding to scale the production of the company's RS1 rocket launch vehicle.

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