Redwire Corp (NYSE:RDW) shares are trading higher on Thursday after the company disclosed an eight-figure deal with European aerospace firm The Exploration Company (TEC).
The agreement entails Redwire supplying two IDSS-compliant docking systems for TEC’s Nyx spacecraft.
Details
As per this deal, Redwire’s International Berthing and Docking Mechanism (IBDM) will enable autonomous rendezvous and docking, supporting Europe’s push for independent space access.
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Notably, Redwire’s IBDM, developed in Belgium alongside international partners and the European Space Agency, meets IDSS standards and enables both berthing and autonomous docking within a modular, standardized interface.
The program is additionally supported by Redwire’s Poland office.
Also, teams in Belgium and Poland are currently applying the IBDM system to the lunar Gateway’s International Habitat, with insights from this project enhancing the performance and reliability of the docking systems that will be delivered to TEC for Nyx.
Management Commentary
Marc Dielissen, general manager of Redwire Belgium added, “This agreement marks a significant step in supporting Europe’s fast-growing commercial space sector. We are thrilled to contribute to one of the most exciting space programs in Europe,”
“IBDM allows for future docking operations in IDSS-compliant environments and positions our system to support missions that demand flexibility, safety, and precision.”
Recent Earnings Results
In November, Redwire reported quarterly losses of 37 cents per share, which missed the consensus estimate for losses of 11 cents. Revenue came in at $103.43 million, which missed the Street estimate of $128.68 million.
RDW Price Action: RDW shares are up 11.09% at $7.16 at publication on Thursday.
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Courtesy Redwire and the Exploration Company
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