Space Impulse Brief:
- MDA has received an Authorization to Proceed (ATP) contract from an undisclosed customer to start work on a new Non-Geostationary Orbit (NGSO)* satellite constellation.
- The ATP, valued at approximately US $180 million, is to immediately commence engineering and programmatic activities, including the procurement of long-lead items.
- The full constellation, valued at a minimum of US $750 million, is expected to include a minimum of 36 MDA software-defined digital satellites.
PRESS RELEASE — Brampton, Ontario / November 17, 2023 — MDA Ltd. (TSX:MDA), a leading provider of advanced technology and services to the rapidly expanding global space industry, announced today that it has received an Authorization to Proceed (ATP) contract from an undisclosed customer to start work on a new Non-Geostationary Orbit (NGSO)* satellite constellation. The ATP, valued at approximately $180 million, is to immediately commence engineering and programmatic activities, including the procurement of long-lead items.
The full constellation, valued at a minimum of $750 million, is expected to include a minimum of 36 MDA software-defined digital satellites, a new MDA product recently introduced to the market. The definitive contract for the full constellation, for which MDA would be the prime contractor, is expected in 2024, subject to contract finalization.
The ATP contract will be added to MDA’s backlog in the fourth quarter of fiscal 2023.
*Non-Geostationary Orbit (NGSO) includes Low Earth Orbit (LEO) and Medium Earth Orbit (MEO).
Contact Information:
MEDIA CONTACT
Amy MacLeod
Vice President, Corporate Communications
613-796-6937
INVESTOR CONTACT
Shereen Zahawi
Senior Director, Investor Relations
647-401-3230
SOURCE: MDA
Featured image: Credit: MDA
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