MDA’s $250M contract extension supports ISS robotics operations | 2024-04-18 | Investing News

• MDA Space (TSX:MDA) received a C$250 million contract extension to support robotics operations on the International Space Station
• The leading technology provider to the global space industry scored the extension from the Canadian Space Agency from 2025 to 2030.
• Under the contract, MDA Space will now fulfill robotics flight controller duties to support mission operations on the ISS
• MDA stock last traded at C$14.23 per share

MDA Space (TSX:MDA) received a C$250 million contract extension to support robotics operations on the International Space Station (ISS).

The leading technology provider to the global space industry scored the extension from the Canadian Space Agency (CSA) from 2025 to 2030.

Under the contract, MDA Space will now fulfill robotics flight controller duties to support mission operations on the ISS.

Since 2001, MDA Space has worked with the CSA and its international partners to provide operational readiness of the Mobile Servicing System, which comprises Canadarm2, Dextre and the Mobile Base System. MDA Space also provides training to the robotic operators and supports mission planning, engineering support and real-time operations.

“Robotics flight controllers are the pilots in the control room who make real-time decisions and plan exactly how robotics on the ISS are utilized and executed to support immediate and long-term mission plans, and we’re honoured to be taking on this important role,” MDA Space CEO Mike Greenley said in a news release. “This further solidifies MDA Space as a trusted mission partner and global leader in mission-critical space robotics operations and strategically positions our team to offer mission operations as a commercial service to customers globally.”

MDA has built a more than 55-year track record in robotics, satellite systems and geointelligence for the global space industry across more than 450 missions.

MDA stock (TSX:MDA) last traded at C$14.23 per share. The stock has added 115.61 per cent year-over-year, but is down by 11.06 per cent since its inception in 2021.

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