Sidus Space Will Continue Producing Hardware That Will Support Parsons Tranche 1 Launch

Rhea-AI Summary

Sidus Space, Inc. (NASDAQ: SIDU) has reaffirmed its commitment to manufacturing hardware for Parsons Corporation (NYSE: PSN) in support of the Tranche 1 (T1) launch. This collaboration involves the production of flight cables for Parsons' evolved secondary payload adapter (ESPA) ring. Sidus Space continues to leverage its manufacturing capabilities to provide end-to-end solutions in the space industry, enhancing its partnership with Parsons.

Positive

• Continued partnership with Parsons Corporation for T1 launch hardware manufacturing.
• Production of flight cables for Parsons' evolved secondary payload adapter (ESPA) ring.
• Sidus Space's reputation for high-quality manufacturing capabilities.

Negative

• None.

CAPE CANAVERAL, Fla.--(BUSINESS WIRE)-- Sidus Space, Inc. (NASDAQ:SIDU), a Space-as-a-Service company focused on mission critical hardware manufacturing combined with commercial satellite design, manufacture, launch, and data collection, is proud to announce that it will continue producing hardware to support Parsons Corporation’s (NYSE: PSN) Tranche 1 (T1) launch. As part of this arrangement, Sidus Space will fabricate flight cables for Parsons evolved secondary payload adapter (ESPA) ring on T1.

The ESPA ring successfully launched on Landsat 9, a NASA satellite constructed to monitor the Earth’s land surface, on Sept. 27, 2021. As a subcontractor, Sidus Space was responsible for cable manufacturing for the ESPA ring. (Photo: Business Wire)

The ESPA ring successfully launched on Landsat 9, a NASA satellite constructed to monitor the Earth’s land surface, on Sept. 27, 2021. As a subcontractor, Sidus Space was responsible for cable manufacturing for the ESPA ring.

“We are excited to build on our partnership with Parsons and continue to derive business from our high-quality manufacturing capabilities as one of the key components in our end-to-end full stack solutions for the space industry,” said Sidus Space CEO and Founder, Carol Craig. “As we look ahead at new projects on the horizon, we are proud of our continued partnerships with key customers like Parsons.”

EELV Secondary Payload Adapter (ESPA) is an adapter used for launching secondary payloads on orbital launch vehicles. T1 Tracking Layer provides the initial missile warning/missile tracking warfighting capability of the National Defense Space Architecture (NDSA).

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 commercial satellite design, manufacture, launch, and data collection. 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 is ISO 9001:2015, AS9100 Rev. D certified, and ITAR registered.

About Parsons

Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and critical infrastructure markets, with capabilities across cybersecurity, missile defense, space, C5ISR, transportation, environmental remediation, and water/wastewater treatment. Please visit Parsons.com and follow us on LinkedIn and Facebook to learn how we’re making an impact.

Forward-Looking Statements

Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute ‘forward-looking statements’ within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words ‘anticipate,’ ‘believe,’ ‘continue,’ ‘could,’ ‘estimate,’ ‘expect,’ ‘intend,’ ‘may,’ ‘plan,’ ‘potential,’ ‘predict,’ ‘project,’ ‘should,’ ‘target,’ ‘will,’ ‘would’ and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and other factors described more fully in the section entitled ‘Risk Factors’ in Sidus Space’s Annual Report on Form 10-K for the year ended December 31, 2021, and other periodic reports filed with the Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof, and Sidus Space, Inc. specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220915005381/en/

Investor Relations

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www.sidusspace.com

Source: Sidus Space, Inc.

FAQ

What is Sidus Space's recent announcement about Parsons Corporation?

Sidus Space announced that it will continue producing hardware for Parsons Corporation to support the Tranche 1 (T1) launch.

What hardware is Sidus Space manufacturing for Parsons?

Sidus Space is fabricating flight cables for Parsons' evolved secondary payload adapter (ESPA) ring on the T1 launch.

How does Sidus Space's partnership with Parsons benefit investors?

The partnership signifies ongoing business opportunities and reinforces Sidus Space's position in the space industry.

What is T1 in relation to Sidus Space and Parsons?

T1 refers to the Tracking Layer providing initial missile warning and tracking capabilities, for which Sidus Space is producing supporting hardware.

Which stock symbols are associated with Sidus Space and Parsons Corporation?

Sidus Space is listed under NASDAQ: SIDU, while Parsons Corporation is listed under NYSE: PSN.