June 21, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Iridium Communications, Inc. (NASDAQ: IRDM) said the Space Exploration Technologies Falcon 9 launch vehicle will be a major provider of launch services for Iridium NEXT, Iridium's next-generation satellite constellation. The contract is said to be worth $492 million.

Iridium, which operates a commercial satellite constellation allowing it to offer mobile voice and data services across the globe, is in the process of replacing many of its satellites. SpaceX's Falcon 9 will carry multiple Iridium NEXT satellites per vehicle, inserting the satellites into a low-earth orbit. The launch is set from Vandenberg Air Force Base in California between 2015 and 2017.

The contract stipulates that SpaceX will provide launch services to Iridium over a two-year period starting in early 2015. Iridium is also in discussions with, and expects to contract with, at least one additional launch services provider. Launch services are included in the total estimated cost of $2.9 billion for Iridium NEXT.

The June 4 inaugural launch of SpaceX's Falcon 9 achieved 100 percent of its mission objectives, culminating in a near bull's-eye insertion to its targeted 250km circular orbit. SpaceX has been working with Iridium and Thales Alenia Space, the prime contractor for Iridium NEXT, to ensure compatibility between the satellite design, the Falcon 9 vehicle and the Iridium NEXT program schedule. This full coordination positions Iridium, SpaceX and Thales Alenia Space for a successful multi-year process of designing, building and launching Iridium NEXT.

The SpaceX Falcon 9 is a medium-to-heavy lift, two-stage launch vehicle capable of lifting approximately 11 tons to LEO.

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