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Rocket Lab Corporation Releases New Germanium-Free Solar Cell and Secures Significant Backlog

Rocket Lab Corporation has released the IMM Apex, a next-generation space solar cell that eliminates the need for germanium substrates. This new technology offers a 31.5% beginning-of-life conversion efficiency and 40% lower mass than conventional cells, providing high power per kilogram while reducing exposure to mineral supply constraints. The company stated that the IMM Apex is a mechanical and electrical drop-in replacement for legacy products, allowing customers to integrate it into existing systems without significant retooling. The company also reported a record $2.36 billion backlog, which grew 137% year-over-year. This backlog includes a $397 million Flatellite contract for the Space Force SB-AMTI program and an $816 million award for the U.S. Space Development Agency's Tracking Layer Tranche 3 constellation. Rocket Lab Corporation also completed its 94th Electron mission last week, deploying a satellite for Synspective. Investors are monitoring the company's progress on the Neutron rocket. A Stage 1 tank test failure recently delayed the Neutron's debut to Q4 2026. Despite this delay, analysts maintain a positive outlook, with an average price target of $111, implying a significant upside from the current trading price.

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