Elon Musk's SpaceX Wins $843M Contract For Historic NASA Mission

NASA has awarded SpaceX an $843 million contract to construct the vehicle that will bring the International Space Station out of its orbit around Earth when its operational lifespan ends in a few years.

What Happened: The contract, will see SpaceX, led by tech tycoon Elon Musk, build the vehicle responsible for bringing down the ISS, according to NASA’s official website.

The ISS, which was launched in 1998, is projected to be decommissioned by 2030. The station is operated by space agencies from the U.S., Europe, Japan, Canada, and Russia. All countries except Russia have committed to operating the station until 2030. Russia has only pledged to participate until 2028.

SpaceX will be responsible for building the vehicle, but NASA will oversee the mission. The contract is a testament to SpaceX’s technological capabilities and its role in shaping the future of space exploration.

“SpaceX is honored to be entrusted by @NASA to support this critical mission,” the tech tycoon’s private space agency said on X.

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Why It Matters: This is another significant milestone for SpaceX, which has been making waves in the space industry. Just a few days ago, SpaceX successfully launched the National Oceanic and Atmospheric Administration's (NOAA) GOES-U mission using its Falcon Heavy rocket. This launch marked a major achievement for SpaceX, as the GOES-U satellite is expected to operate into the 2030s.

Meanwhile, SpaceX’s rival, Blue Origin, owned by Amazon founder Jeff Bezos, has been engaging in a public battle with SpaceX over environmental concerns. This has not deterred SpaceX’s progress, as evidenced by the recent contract win.

The development comes at a time when NASA has been named the Best Place to Work in the Federal Government for the 12th consecutive year. NASA Administrator Bill Nelson attributes this achievement to the agency’s exceptional workforce, emphasizing their pioneering spirit.

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This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote