Redwire Signs MOU with Consolidated Safety Services, Inc. to Support International Space Station Services Contract

Rhea-AI Summary

Redwire (NYSE: RDW) has signed a memorandum of understanding (MOU) with Consolidated Safety Services, Inc. (CSS) to jointly pursue task orders under NASA's $478 million Research, Engineering & Mission Integration Services-2 (REMIS-2) contract for the International Space Station (ISS). The partnership aims to provide spaceflight hardware, engineering services, payload integration, and research mission operations for the ISS Program.

Redwire, with its extensive experience in human spaceflight and ISS contributions, currently owns nine payloads and facilities on the ISS and has managed three NASA-owned research facilities. This collaboration with CSS is expected to expand Redwire's legacy in supporting ongoing space station operations, leveraging its expertise in critical hardware and technology systems development.

Positive

• Partnership with CSS to compete for NASA's $478 million REMIS-2 contract
• Potential for new revenue streams through ISS-related task orders
• Redwire owns nine payloads and facilities currently installed on the ISS
• Experience in managing three NASA-owned research facilities on the ISS

Negative

• None.

Insights

Market Research Analyst

The memorandum of understanding (MOU) between Redwire and Consolidated Safety Services, Inc. (CSS) represents a strategic partnership aimed at competing for task orders under NASA's $478 million REMIS-2 contract. While this collaboration positions Redwire to potentially secure a portion of this significant contract, it's important to note that the MOU itself does not guarantee immediate financial impact.

From an investor's perspective, this partnership could be seen as a positive step for Redwire, potentially expanding its footprint in the ISS support services market. However, the actual impact on Redwire's financials will depend on the success rate in winning task orders and the subsequent execution of these projects.

Redwire's extensive experience with the ISS, including ownership of nine payloads and facilities currently installed on the station, provides a strong foundation for this partnership. This existing relationship with NASA and proven track record in space infrastructure could give the Redwire-CSS team a competitive edge in bidding for task orders.

Investors should monitor future announcements regarding any task orders won under this partnership, as these will be more concrete indicators of potential revenue growth. While the MOU itself doesn't warrant a significant shift in investment strategy, it does highlight Redwire's continued efforts to position itself as a key player in the evolving space economy.

Space Industry Expert

This partnership between Redwire and CSS is a strategic move in the competitive landscape of space station services. The International Space Station, while aging, remains a critical platform for scientific research and technological development in low Earth orbit. As NASA continues to support ISS operations while simultaneously planning for future space stations, companies like Redwire are positioning themselves to bridge current and future needs.

Redwire's extensive portfolio of ISS-related technologies and services, including their Roll-Out Solar Arrays which have upgraded the station's power capabilities, demonstrates their deep integration with ISS operations. This partnership with CSS could potentially allow Redwire to expand its service offerings and solidify its position as a key player in ISS support.

However, it's important to consider the long-term implications. The ISS is currently funded through 2030 and while there are plans for commercial space stations to follow, the transition period could present both opportunities and challenges for companies heavily invested in ISS-related services. Redwire's ability to adapt its technologies and services to future space station designs will be critical for long-term growth in this sector.

Investors should view this MOU as part of Redwire's broader strategy to maintain and potentially expand its market share in space infrastructure services, while also considering how the company is preparing for the post-ISS era in low Earth orbit operations.

JACKSONVILLE, Fla.--(BUSINESS WIRE)-- Redwire Corporation (NYSE: RDW), a leader in space infrastructure for the next generation space economy, announced today that it has signed a memorandum of understanding (MOU) with Consolidated Safety Services, Inc. (CSS) to jointly pursue future task orders under NASA’s $478 million Research, Engineering & Mission Integration Services-2 (REMIS-2) contract to support the International Space Station (ISS).

Through this MOU, CSS will team with Redwire to compete for task orders to provide spaceflight hardware, ground hardware and software, engineering services, payload facility integration, and research mission integration operations services for the ISS Program under the REMIS-2 contract. As a trusted developer of critical hardware and technology systems spanning more than three decades of human spaceflight, Redwire is an optimal partner to deliver engineering services support for the ISS Program.

“Redwire has a long-standing history as a key implementation partner for the ISS Program. From research and manufacturing payload development, to management of critical NASA science hardware, and to even upgrading the space station’s power capabilities through our Roll-Out Solar Arrays, Redwire has made significant contributions at every phase of the space station’s life cycle, and we’re proud to partner with CSS to expand on that legacy and support ongoing space station operations,” said Richard Boling, Vice President of Corporate Advancement at Redwire.

"CSS is pleased to strike this strategic partnership with Redwire. Redwire’s heritage and leadership combined with CSS’ history of providing its customers with dependable common-sense solutions is a winning combination,” said Jolanda Janczewski, President of CSS.

Redwire owns nine payloads and facilities, currently installed on the ISS, designed to conduct critical life and physical science research for commercial and government customers. Additionally, Redwire has managed three NASA-owned research facilities, including material science furnaces and the Advanced Plant Habitat, under a similar space station services contract.

About Redwire

Redwire Corporation (NYSE:RDW) is a global space infrastructure and innovation company enabling civil, commercial, and national security programs. Redwire’s proven and reliable capabilities include avionics, sensors, power solutions, critical structures, mechanisms, radio frequency systems, platforms, missions, and microgravity payloads. Redwire combines decades of flight heritage and proven experience with an agile and innovative culture. Redwire’s approximately 700 employees working from 14 facilities located throughout the United States and Europe are committed to building a bold future in space for humanity, pushing the envelope of discovery and science while creating a better world on Earth. For more information, please visit redwirespace.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240729831599/en/

Media Contact:

Emily Devine

Emily.Devine@redwirespace.com

305-632-9137

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Source: Redwire Corporation

FAQ

What is the purpose of Redwire's MOU with Consolidated Safety Services for the ISS?

Redwire (RDW) signed an MOU with CSS to jointly pursue task orders under NASA's $478 million REMIS-2 contract, aiming to provide spaceflight hardware, engineering services, payload integration, and research mission operations for the International Space Station Program.

How many payloads and facilities does Redwire currently have on the ISS?

Redwire (RDW) currently owns nine payloads and facilities installed on the International Space Station, designed for conducting critical life and physical science research for commercial and government customers.

What types of services will Redwire and CSS compete for under the REMIS-2 contract?

Redwire (RDW) and CSS will compete for task orders to provide spaceflight hardware, ground hardware and software, engineering services, payload facility integration, and research mission integration operations services for the ISS Program under the REMIS-2 contract.

What is the value of the NASA REMIS-2 contract that Redwire and CSS are pursuing?

The NASA Research, Engineering & Mission Integration Services-2 (REMIS-2) contract that Redwire (RDW) and CSS are pursuing task orders for is valued at $478 million.