New Orbital Destination Opens Up Space For Business And Travel, Creating New Ecosystem
KENT, Wash., October 25, 2021 (Blue Origin/Sierra Space PR) – Blue Origin and Sierra Space today announced plans for Orbital Reef, a commercially developed, owned, and operated space station to be built in low Earth orbit. The station will open the next chapter of human space exploration and development by facilitating the growth of a vibrant ecosystem and business model for the future. Orbital Reef is backed by space industry leaders and teammates including Boeing, Redwire Space, Genesis Engineering Solutions, and Arizona State University.
Shares of space infrastructure and manufacturing conglomerate Redwire (RDW) surged by 16.57 percent on Friday during the company’s first day of trading on the New York Stock Exchange. The stock price rose by $1.74 to $12.24.
The debut came after shareholders of Genesis Park Acquisition Corp. overwhelmingly backed a merger with Redwire on Wednesday. Genesis Park was a special purpose acquisition company (SPAC) that was already traded on NYSE that was established by investors with the goal of finding a company with which to merge and take public.
JACKSONVILLE, Fla. and HOUSTON, Sept. 1, 2021 (Genesis Park PR) — Genesis Park Acquisition Corp. (“GPAC”) (NYSE: GNPK), a U.S. publicly-traded special purpose acquisition company, and Redwire, LLC (“Redwire” or the “Company”), a leader in mission critical space solutions and high reliability components for the next generation space economy, announced that at GPAC’s extraordinary general meeting held today (the “Extraordinary General Meeting”), GPAC’s shareholders voted to approve the previously announced proposed business combination between GPAC and Redwire (the “Business Combination”), as well as all other proposals related to the Business Combination. Approximately 97% of the votes cast at the meeting, representing approximately 73% of GPAC’s outstanding shares as of the record date, voted to approve the Business Combination.
JACKSONVILLE, Fla. (NASA PR) — The farther humans go into deep space, the more important it will be to generate products with local materials. Reducing Earth delivery requirements reduces overall mission cost and launch weight. It also allows for the construction of infrastructure using space-based resources, a practice called in-situ resource utilization (ISRU). NASA is making long term investments to advance ISRU technology across multiple areas, including regolith-based in-space manufacturing and construction.
JACKSONVILLE, Fla., August 19, 2021 (Redwire PR) – Redwire, a leader in mission critical space solutions for the next generation space economy, announced today initial operational capability for its investment in a first-of-its-kind digital engineering environment, the Hyperion Operational Space Simulation Laboratory (HOSS). The state-of-the-art facility leverages the full suite of Redwire digital engineering capabilities, including software- and hardware-in-the-loop configurations, to enable next generation space architectures and solutions, such as advanced artificial intelligence, machine learning and cyber technologies.
JACKSONVILLE, Fla., August 18, 2021 (Redwire PR) – Redwire, a leader in mission critical space solutions and high reliability components for the next generation space economy, has been awarded a subcontract from Firefly Aerospace to provide avionics and critical navigation systems for their Blue Ghost lunar lander. Firefly Aerospace was awarded a contract to deliver a suite of 10 science investigations and technology demonstrations to the Moon in 2023 for NASA’s Artemis program. The award is part of the agency’s Commercial Lunar Payload Services (CLPS) initiative, in which NASA is securing the service of commercial partners to quickly land science and technology payloads on the lunar surface.
WALLOPS, Va. (NASA PR) — NASA is inviting the public to take part in virtual activities and events ahead of the launch of Northrop Grumman’s 16th commercial resupply services mission to the International Space Station for NASA.
Members of the public can register to attend the launch virtually. NASA’s virtual guest program for NG CRS-16 includes curated launch resources, notifications about interaction opportunities, and a virtual guest passport stamp following a successful launch.
Northrop Grumman is targeting liftoff of its Antares rocket and Cygnus spacecraft for no earlier than 5:55 p.m. EDT Tuesday, Aug. 10, from Pad-0A of the Mid-Atlantic Regional Spaceport at NASA’s Wallops Flight Facility on Wallops Island.
HOUSTON (SpaceFund PR) — SpaceFund Inc., announced it has fully deployed investments from its first “LaunchPad” fund today. The venture capital firm placed investor funds in 14 companies, including both some well-known NewSpace stars, as well as seeding rising stars it believes capable of helping lead humanity into the frontier of space.
“We’re right on track in our plan to seed and support the growth of these amazing companies,” said SpaceFund founder Rick Tumlinson. “Our formula is working. First we find brilliant frontier tech startups in need of early funding, then we bring in funds from visionary investors, and after significant diligence, we place those funds in just the right places to power the space revolution.”
FARNBOROUGH, UK (QinetiQ PR) — Hypersat has awarded a design-phase contract to QinetiQ Inc. (QinetiQ) for their next generation hyperspectral satellite. This study will be an enabling activity for a potential constellation of six low earth orbit (LEO) satellites that Hypersat plans to launch, and which will be capable of producing greater information about the material properties on Earth than any current capability in orbit.
QinetiQ will lead a team of specialist engineering and technology organisations across the US that includes Redwire, Millennium Engineering and Integration, LLC, and Brandywine Photonics. The team selected Virgin Orbit as the launch provider in part because of the unparalleled agility, mobility, and responsiveness afforded by air-launch, which allows for shorter call-up times and more flexible scheduling for customers, as well as direct injection into precise target orbits. In addition to the value for commercial customers, this capability enables a major strategic advantage to government organisations seeking to maintain unencumbered overhead intelligence.
JACKSONVILLE, Fla. (April 6, 2021) – Redwire, a new leader and innovator in mission critical space solutions and high reliability components for the next generation space economy, announced today the hiring of Mike Gold as Executive Vice President of Civil Space Business Development and External Affairs, effective April 5, 2021.
Gold joins Redwire from NASA, where he was most recently the Associate Administrator for Space Policy and Partnerships and was responsible for formulating and leading a comprehensive strategy to integrate domestic, international, intergovernmental, and industry policy across the space domain, including priorities that enhance the resiliency and capabilities of the Artemis program.
Redwire is a pure play space infrastructure company providing critical technology and services to fast-growing national security, civil, and commercial markets
Global space economy growing rapidly, projected to exceed $2 trillion in 2040
Business combination values Redwire at a pro forma enterprise value of $615 million; transaction expected to deliver approximately $170 million cash to the Redwire balance sheet (assuming no redemptions)
Includes a fully committed and oversubscribed $100 million common stock PIPE with participation by Senvest Management, LLC and Crescent Park Management, L.P.
Proven management team and 50+ years of space heritage and deep customer relationships in space and aerospace
Undisputed leader in rapidly expanding 3D printing/manufacturing and robotic assembly in space, which is critical to the future of space infrastructure solutions
Strong financial foundation with current revenue, EBITDA, and free cash flow
Projected 2021 revenue of $163 million and forecasted 72% 2021E – 2025E revenue CAGR, with positive and growing Adj. EBITDA and cash flow driven by an over $23 billion pipeline of identifiable contracts
Current Redwire stockholders, Genesis Park stockholders and PIPE investors will hold shares in the combined company to be listed on the NYSE
JACKSONVILLE, Fla. and HOUSTON, March 25, 2021 (Redwire PR) — Redwire (or “the Company”), a leader in mission-critical space solutions and high reliability components for the next generation space economy, and Genesis Park Acquisition Corp. (NYSE: GNPK) (“Genesis Park”), a publicly traded special purpose acquisition company, announced today that they have entered into a definitive merger agreement that will result in Redwire becoming a publicly traded company. The transaction is expected to be completed by the end of the second quarter of 2021, and at that time, Genesis Park Acquisition Corp. will change its name to Redwire and the company will trade on the NYSE.
JACKSONVILLE, Fla., March 9, 2021 (Redwire PR) – Redwire, a new leader in mission critical space solutions and high reliability components for the next generation space economy, has been selected by PlanetiQ, a commercial weather satellite constellation operator, to supply solar arrays for their HD GPS-RO weather satellites. The contract will include delivery of a 130-watt solar array for PlanetiQ’s spacecraft. The agreement marks PlanetiQ’s third flight contract for Redwire’s solar arrays. Previously, Redwire’s subsidiary Roccor delivered two sets of solar arrays to PlanetiQ, dating back to 2018.
JACKSONVILLE, Fla. (Redwire PR) — The Industrial Crystallization Facility (ICF) is a commercial in-space manufacturing device designed to provide proof-of-principle for diffusion-based crystallization methods to produce high-quality optical crystals in microgravity relevant for terrestrial use. ICF was launched to the International Space Station (ISS) on Northrop Grumman’s CRS-15 on February 20.
JACKSONVILLE, Fla. February 23, 2021 (Redwire PR) – Redwire, a new leader in mission critical space solutions and high reliability components for the next generation space economy, announced today that it has acquired Deployable Space Systems, Inc. (DSS), a leading supplier of mission-enabling deployable solar arrays, structures and mechanisms for space applications. Terms of the transaction were not disclosed.
“DSS has an unmatched reputation for innovative deployable space technologies and infrastructure, and that is a perfect fit for Redwire’s technology portfolio,” said Peter Cannito, Chairman and CEO of Redwire. “These new capabilities will expand our set of space infrastructure solutions and deliver even greater value to our customers.”