Why Is Space Technology Company Redwire's Stock Surging Today?

Redwire Corporation RDW shares are trading higher after the company disclosed that it delivered the onboard computer for the European Space Agency's (ESA) Comet Interceptor mission.

The system was developed by Redwire's wholly owned Belgian subsidiary, Redwire Space NV, under a contract with OHB Italia S.p.A.

Serving as the mission’s central processing unit, the onboard computer is part of Redwire's advanced third-generation Advanced Data and Power Management System (ADPMS-3).

Also Read: Redwire Joins ispace Tech In Pursuit Of NASA’s $2.6 Billion Lunar Economy Mission

The device is responsible for managing the spacecraft's subsystems and relaying critical information back to mission control.

ESA's Comet Interceptor will be the first spacecraft to encounter a comet originating from the outermost parts of the solar system, providing a rare opportunity to study untouched material from the early solar system.

Notably, the delivery follows a comprehensive acceptance testing campaign, which includes vibration, thermal vacuum, and electromagnetic compatibility tests.

Mike Gold, Redwire President of Civil and International Space Business, said, “With 25 years of flight heritage, a strong track record of success, and the Redwire team’s unparalleled avionics expertise, Redwire’s ADPMS-3 is a critical, enabling technology for today’s most ambitious European and multinational space missions.”

Last week, the company secured a contract from SpaceTech GmbH to supply essential avionics systems for ESA’s Next Generation Gravity Mission (NGGM) satellites.

Price Action: RDW shares are up 19.00% at $15.47 premarket at the last check on Tuesday.

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