RDW Stock Gains After Redwire Bags $44M DARPA Contract To Advance Very Low-Earth Orbit Mission

• Redwire stated that the Otter VLEO mission is built on the company’s SabreSat Orbital Drone.
• The company noted that the drone is built keeping performance, endurance, and cost-effectiveness in mind for VLEO missions.
• This includes software and hardware systems designed to extend the spacecraft’s life.

Redwire Corp. (RDW) on Wednesday announced that it had won a $44 million contract from the Defense Advanced Research Projects Agency (DARPA) to advance its Very Low Earth Orbit (VLEO) mission.

Redwire shares were up more than 7% in Wednesday’s opening trade. Retail sentiment on Stocktwits around the company trended in the ‘bullish’ territory at the time of writing.

As part of the contract, Redwire will use the funding to complete the manufacturing of the spacecraft and deliver it to DARPA for the agency’s Otter VLEO mission.

Otter And Redwire

Redwire stated in its announcement that the Otter VLEO mission is built on the company’s SabreSat Orbital Drone. The company noted that this drone is built keeping performance, endurance, and cost-effectiveness in mind for VLEO missions.

This includes software and hardware systems designed to extend the spacecraft’s life and improve performance in challenging low-altitude orbital environments.

Otter VLEO Mission

DARPA revealed details of the Otter VLEO mission, stating that it is designed to operate at altitudes of 90-450 kilometers. It added that VLEO comes with challenges of atmospheric drag and Earth’s gravity, resulting in the rapid decay of an object in this orbit.

However, the Otter VLEO mission is aimed at extending satellite operations by “harvesting ambient low-density air, and ionizing and accelerating the resultant ion flow, thereby utilizing a virtually unlimited supply of propellant,” according to the agency.

RDW stock is down 67% year-to-date and 50% over the past 12 months.

Also See: Larry Summers Resigns From OpenAI Board After Trump Orders Investigation Into Democrats’ Ties With Epstein: Report

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