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Sidus Space Expands Relationship and Increases Deliverables to Teledyne Technologies
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
Sidus Space, Inc. (NASDAQ:SIDU) reported its strongest revenue quarter in partnership with Teledyne Marine, following noteworthy growth in Q2 2022. The companies continue to collaborate since the signing of a two-year master supply agreement in July 2019. Sidus will now manufacture components for Teledyne’s facilities in Massachusetts, Texas, and Florida, expanding their relationship. CEO Carol Craig highlighted the increased trust and product quality that contributes to their success. Sidus Space specializes in Space-as-a-Service solutions and aims to provide scalable satellite services.
Positive
Strongest revenue quarter with Teledyne Marine since partnership began.
Expansion of manufacturing scope to include Massachusetts facility.
Increased trust from Teledyne Marine, indicating product quality and partnership value.
Negative
None.
CAPE CANAVERAL, Fla.--(BUSINESS WIRE)--
Sidus Space, Inc. (NASDAQ:SIDU), a Space-as-a-Service satellite company focused on mission critical hardware manufacturing; multi-disciplinary engineering services; satellite design, production, launch planning, mission operations; and in-orbit support, is pleased to announce its growing relationship with Teledyne Marine, a part of Teledyne Technologies, Inc. (NYSE:TDY), following a noteworthy Q2 2022. The three-month period marks the strongest revenue quarter between the parties since their partnership began four years ago.
Sidus Space signed its first two-year master supply agreement (MSA) with Teledyne Marine in July 2019, followed by a two-year product pricing agreement (PPA) in September 2021.
“We’ve been fortunate to build components for Teledyne Marine since 2019, and we’re excited to see our relationship grow and prosper,” said Sidus Space CEO and Founder, Carol Craig. “Teledyne Marine’s increased trust in Sidus is a testament to the quality of products we develop and the value we provide to our partners. We look forward to working together in the years to come.”
As part of the increasing scope of work and revenue with Teledyne Marine, Sidus Space will now manufacture components for Teledyne Marine’s Massachusetts facility and will continue supplying components to Teledyne Marine’s facilities in Texas and Florida.
Sidus Space has been on an upward trajectory over the past few months, taking significant strides to plant its flag among the international space community elite. In December 2021, Sidus listed its Class A common stock on the NASDAQ Capital Market via an IPO, making Craig the first female owner-founder of a publicly traded space company serving government and commercial space industries.
About Sidus Space
Sidus Space (NASDAQ: SIDU), located in Cape Canaveral, Florida, operates from a 35,000-square-foot manufacturing, assembly, integration, and testing facility focused on vertically integrated Space-as-a-Service solutions including end-to-end satellite support. The company’s rich heritage includes the design and manufacture of many flight and ground component parts and systems for various space-related customers and programs. Sidus Space has a broad range of Space-As-a-Service offerings including space-rated hardware manufacturing, design engineering, satellite manufacturing and platform development, launch and support services, data analytics services and satellite constellation management.
Sidus Space has a mission of Bringing Space Down to Earth™ and a vision of enabling space flight heritage status for new technologies while delivering data and predictive analytics to domestic and global customers. Any corporation, industry, or vertical can start their journey off-planet with Sidus Space’s rapidly scalable, low-cost satellite services, space-based solutions, and testing alternatives. More than just a “Satellite-as-a-Service” provider, Sidus Space is a trusted Mission Partner–from concept to Low Earth Orbit and beyond. Sidus Space is ISO 9001:2015, AS9100 Rev. D certified, and ITAR registered.
About Teledyne Marine
Teledyne Marine is a group of leading-edge subsea technology companies that are part of Teledyne Technologies Incorporated. Through acquisitions and collaboration, Teledyne Marine has evolved into an industry powerhouse, bringing Imaging, Instruments, Interconnect, Seismic, and Vehicle technology together to provide total solutions to our customers. www.teledynemarine.com
