Astrotech Announces Plans for LP&L to Develop a Commercial Lunar Electric Utility

AUSTIN, Texas, Aug. 11, 2026 (GLOBE NEWSWIRE) -- Astrotech Corporation (Nasdaq: ASTC) ("Astrotech" or the "Company") today announced that its wholly owned subsidiary, Lunar Power and Light Corporation ("LP&L"), intends to develop a commercial lunar power-generation, energy-storage and distribution network designed to operate as a lunar electric utility for future government and commercial customers at a high-illumination lunar polar location. The proposed program remains subject to technical validation, financing, customer commitments, launch availability and applicable governmental authorizations.

LP&L's proposed network would combine distributed, elevated and sun-tracking solar towers; utility-scale and local battery storage; autonomous controls; surface transmission and distribution; metering; and recharge stations. Solar generation would serve customer loads and charge storage when sunlight is available. Stored energy would feed the same grid when solar output is insufficient, with the objective of maintaining continuous day-and-night service.

Using a preliminary 90% annual solar-access case, LP&L estimates approximately 7,884 hours of potential direct solar access and 876 cumulative hours of full or partial battery support during an 8,760-hour Earth year. This is a planning assumption, not a guarantee. Final sizing would depend on site-specific, multi-year illumination and shadow analysis, customer demand, reserves and the longest low-generation period.

Proposed Commercial Utility Model

Under LP&L's proposed model, future customers could purchase continuous or reserved electricity, firm capacity, metered consumption, transmission, recharge services and contracted storage from shared infrastructure rather than launching and maintaining a separate power system for every mission. Potential customers may include:

• Lunar construction operations for structures, landing pads and roads;
• Moon-based data centers, artificial-intelligence systems, high-performance computing, communications and scientific infrastructure;
• Lunar mining, excavation, resource-extraction and materials-processing operations; and
• Autonomous robots, rovers, construction equipment and commercial or governmental facilities requiring continuous, reserved or backup power.

"Through LP&L, our intended product is not intermittent daytime solar energy; it is continuous utility power," said Thomas B. Pickens III, Chairman, Chief Executive Officer and Chief Technology Officer of Astrotech Corporation. "Under the proposed model, customers would receive a firm, metered service while LP&L manages direct solar generation and stored energy. LP&L also intends to evaluate nuclear fission power with qualified partners as a potential source of added capacity and resilience."

NASA Lunar Enabling Infrastructure Accelerator (LEIA)

NASA has issued a draft Broad Agency Announcement under Next Space Technologies for Exploration Partnerships-3 (NextSTEP-3), Appendix A: Lunar Enabling Infrastructure Accelerator (LEIA) (Solicitation No. 80GRC026R0008). Topic 1: Vertical Solar Array seeks technology maturation and risk reduction for lunar surface power. LP&L is evaluating a potential proposal to advance its vertical solar-tower technology for later integration with its battery-supported lunar utility architecture.

Appendix A is a draft solicitation and does not constitute a NASA selection, award, contract, authorization, endorsement, funding commitment or agreement to purchase services from Astrotech or LP&L.

Meaning of "Lunar Electric Utility" and Current Status

The term "lunar electric utility" describes LP&L's proposed commercial power-generation, storage and distribution service model. It does not mean that LP&L is presently operating, licensed or certified as a terrestrial regulated public utility, fully financed, approved for deployment or contractually committed to supply power. This announcement does not claim governmental approval or endorsement. Future launch and operation may require applicable launch, payload, communications, export-control and other authorizations.

LP&L remains in an early evaluation and development phase. Initial work is expected to include polar-site and customer identification; illumination and shadow analysis; solar and battery sizing; transmission and recharge-standard development; and identification of technology, launch, financing and operating partners. No final site, capacity, route, launch schedule, service date or project cost is being announced. LP&L is also not announcing any binding power-purchase agreement, customer commitment, strategic-partner agreement, financing commitment, launch contract or operational authorization. Implementation will depend on technical validation, customer demand, partnerships, lunar transportation, financing, applicable authorizations and other factors.

About Lunar Power and Light Corporation

Lunar Power and Light Corporation ("LP&L") is a wholly owned subsidiary of Astrotech Corporation formed to evaluate and pursue commercial lunar power-generation, battery-storage, transmission, distribution, metering, recharging and related services. LP&L has not commenced commercial utility operations.

About Astrotech Corporation

Astrotech Corporation (Nasdaq: ASTC) is an Austin, Texas-based science and technology company that creates and scales businesses in space-related technology, advanced instrumentation, mass spectrometry, gas chromatography, process control and environmental analysis. For additional information, visit Astrotech's corporate website.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding Astrotech's and LP&L's proposed lunar electric utility; polar sites and solar-access estimates; solar towers; continuous power; battery storage; transmission, distribution, metering and recharging; LP&L's potential response to NASA's draft NextSTEP-3 Appendix A Lunar Enabling Infrastructure Accelerator, including Topic 1: Vertical Solar Array; potential demonstrations, customers, partners, financing, governmental authorizations and nuclear fission power; and the timing, cost, capacity, reliability, deployment, operation or commercialization of lunar power infrastructure.

These statements are based on current expectations and are subject to significant risks and uncertainties, including the early-stage nature of the program; possible changes to or non-issuance of the final NASA solicitation; possible non-submission, non-selection or non-award under Appendix A; differences between estimated and actual solar availability; shadow periods; battery performance and degradation; technical challenges; insufficient customers, commitments, partners, financing, transportation or government support; delays or failure to obtain applicable authorizations; launch, landing, deployment and maintenance risks; competition; supply-chain constraints; and uncertainties regarding commercial lunar markets and nuclear fission.

Additional risks are described in Astrotech's SEC filings, including its most recent Form 10-K and Forms 10-Q. No assurance can be given that Astrotech or LP&L will achieve the planning assumptions, provide continuous power, deploy or operate the infrastructure, receive a NASA Appendix A award, obtain authorizations, enter binding agreements, secure financing or sell electricity or related services. Forward-looking statements speak only as of the release date, and Astrotech undertakes no obligation to update them except as required by law.

Contacts

Company Contact
Scott Bartley Interim Chief Financial Officer Astrotech Corporation (512) 485-9530