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Masten Space Systems enters bankruptcy proceedings to provide lunar payload service to NASA

Science

Masten Space Systems enters bankruptcy proceedings to provide lunar payload service to NASA

Among the debts that Masten Space Systems has to SpaceX, Astrobotic, NuSpace, and others, the company has begun the process of declaring bankruptcy on Thursday.

Founded in 2004, Masten Space aims to send a lander to the moon as soon as next year.

NASA selected the company to deliver eight payloads to the lunar surface under its Commercial Lunar Payload Services program.

The contract was worth $75.9 million. Furthermore, Masten was selected for a separate lunar mission to collect moon-based resources.

As part of the Air Force Research Laboratory's AFWERX program, the company said it was developing a GPS-like navigation system for the moon.

Masten estimated that it had between 50-99 creditors, $10 million-$50 million in assets, and $10 million-$50 million in liabilities in its Chapter 11 bankruptcy filing. A Chapter 11 petition was signed by David Masten,

The company's president and CTO. A breakdown of Masten's creditors is included in the filing: SpaceX owes $4.6 million, Psionic $2.7 million, Astrobotic $2.7 million, and NuSpace $1.6 million. The application lists 16 additional creditors.

TechCrunch's request for comment was also responded to by NASA. 'NASA has been informed that Masten business operations may impact its payloads to be delivered aboard Masten Mission One,' the agency said.

As part of the agency's efforts to ensure that future changes comply with Federal Acquisition Regulations, the agency is working closely with the company.

NASA has already paid $66.1 million out of the $81.3 million contract value if Masten Space Systems is unable to complete the task order.

Source :techcrunch

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