2021 by the Numbers & a Sneak Preview of 2022

A message from our CEO, Beau Jarvis.

2021 has been by far the most significant year in the history of Phase Four.? The numbers tell the story of a company evolving into a trusted provider of plasma engines for the rapidly expanding small satellite industry.? Behind the numbers is a team of talented professionals who delivered flight hardware at unprecedented short lead times in a constantly evolving and unpredictable pandemic environment. I am incredibly proud of the P4 ‘Old Timers’ whose dedication enabled the world’s first commercial RF Thrusters to operate successfully in space.? I’m also excited by the prospect of our new hires who bring much needed skill sets to our team.? 2022 will surely prove to be an even higher zenith for team P4.? But before we look ahead, let’s look back at Phase Four’s 2021 by the numbers:

• In January our first Maxwell Block 1 systems were launched on board commercial small sats. To date there are 4 Block 1 engines in space with over 1,000 days of accumulated on orbit time.
• 10 Maxwell Block 1 engines delivered with 6 to be launched in the first half of 2022.
• A contract via the AFWERX program to develop the first domestic iodine-fueled plasma propulsion system.
• Introduction of Maxwell Block 2 along with an industry first subscription program called P4 Pass, which ensures industry-leading short lead times and fixed pricing for rapid development of small sat constellations.
• Our first commercial customer confirming performance of Maxwell Block 1 engines in space.
• Awarded a contract during the U.S. Space Force/SpaceWERX Pitch Day to demonstrate multi-mode propulsion using ASCENT green propellant.? This will enable multiple modes of propulsion akin to gears on a car - ‘low gear’ chemical propulsion mode for high thrust maneuvers and ‘high gear’ electric propulsion for high efficiency thrust maneuvers.

• Demonstrating the robustness of our Maxwell engine by cycling the engine more than 10,000 times over 100 hours.
• The debut of our 2nd generation RF Thruster, which offers 85%+ improvements in both thrust and Isp over our first gen thruster.

And we’re just getting started… For 2022:

• We’ve Doubled the size of our production team to significantly scale each production run while maintaining our industry-best 3-4 month lead times
• Maxwell Block 2 enters production in Q1 2022
• We will convert our multi-million dollar bookings backlog into revenue
• Our Advanced Development team will demonstrate performance with iodine in Q1 2022
• We'll begin to adapt Phase Four’s RF Thruster to operate as an air-breathing engine in VLEO
• And much, much more!

All the best for 2022,

Beau